Business

New Delhi, Aug 21 (IANS) Union Electronics and IT Minister Ashwini Vaishnaw said on Friday that Apple could expand its manufacturing footprint in India beyond iPhone production, while the government is working with three potential Indian smartphone players that could emerge over the next 10-14 months.

Responding to a question on whether Apple could manufacture products beyond iPhones in India, Vaishnaw said "yes", signalling the possibility of a broader expansion of the technology major's manufacturing and product ecosystem in the country.

The minister also said the government expects Indian smartphone brands to emerge and compete across different market segments. As part of efforts to build a stronger domestic smartphone ecosystem, the government has asked three Indian players to develop best-in-segment design options.

These companies have also been asked to identify the segments they are most comfortable competing in, including economy, premium and super-premium categories. Vaishnaw said the Indian players have indicated that they want to focus on the high-volume segment.

However, the government will closely assess their intellectual property and the quality of their designs before extending support to the companies.

"At this point, I see three potential Indian smartphone players coming up in 10-14 months," Vaishnaw said.

His comments come soon after the government notified the Mobile Phone Manufacturing Scheme (MPMS), aimed at strengthening domestic mobile phone manufacturing and supporting the emergence of Indian smartphone brands.

The scheme has been divided into two target segments. Target Segment 1 focuses on incentivising mobile phone manufacturing, while Target Segment 2 is aimed at supporting Indian mobile phone brands.

Applicants under the second segment will receive a one-year gestation period, allowing them to establish operations and meet eligibility requirements before claiming financial incentives.

Under the MPMS, mobile phone manufacturers registered in India with a minimum turnover of Rs 10,000 crore in FY26 will be eligible to participate. Existing brands seeking financial incentives will have to achieve additional sales of Rs 5,000 crore over their total FY26 sales in each financial year for which incentives are claimed.

For electronics manufacturing services (EMS) companies, the scheme sets a minimum FY26 turnover threshold of Rs 1,000 crore for eligibility.

The government's latest push comes as India seeks to move beyond its role as a major manufacturing base and develop a stronger domestic electronics ecosystem, including locally designed and branded smartphones.

--IANS

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New Delhi, Aug 21 (IANS) China may be winning many of the contracts to build out Southeast Asia’s digital infrastructure, but Beijing is making less headway on the rules, according to an article published in The Diplomat.

The Southeast Asian governments are not adopting China’s digital governance model together with the technology. They are picking and choosing, taking Beijing’s hardware while writing their own rulebooks, drawing from European regulation, UN norms, regional frameworks, and their own political traditions, states the article written by Ilaria Carrozza.

It highlights the cases of Indonesia, Malaysia and the Philippines which have used China’s technology. In Indonesia, the national cyber agency, BSSN, anchors its guidance in ISO 27001, the international standard for information security management.

Banks follow central bank regulations; fintech firms answer to the financial services authority; and all of it, as one member of the country’s cybersecurity community described it, aligns ultimately with international standards. Indonesian officials talk a great deal about digital sovereignty, but the rules their institutions actually enforce were mostly written in Geneva and Washington, says the report.

Similarly, Malaysia’s cybersecurity governance took shape in response to UN processes, and Kuala Lumpur has endorsed UN norms of responsible state behaviour in cyberspace. Its capacity-building partners are Canadian firms and EU programmes. The Philippines aligns even more explicitly with the West: its Data Privacy Act was consciously built on the European GDPR model, and officials describe international cybersecurity governance as a Western-dominated affair, the report mentions.

“Thus, in cybersecurity, it seems that balance was struck long ago in favour of the incumbent powers rather than Beijing. Technical standards have enormous inertia. Once a country’s banks, telecoms, and certification regimes run on ISO and Western frameworks, the switching costs are prohibitive, and every new regulation layers on top of the old ones. And Beijing arrived to the standards race decades late,” the author observes.

On top of this, there is widespread official mistrust of Chinese platforms. Such sentiments were voiced repeatedly in interviews, even by officials in governments happy to accept Chinese infrastructure. Pei argued convincingly that officials abroad could never replicate the Chinese party apparatus.

The author’s research found that nobody in the governments of Indonesia, Malaysia, and the Philippines seemed to be looking to Beijing for rules in the first place – even in areas where Chinese technology is most deeply embedded. Recipient states have their own institutions, values, and strategic calculations, which they seek to pursue while using Chinese technology.

The physical infrastructure matters less than Washington seems to think; the contest that actually matters is playing out in venues like ISO and ITU processes, regional regulatory forums, and ASEAN’s AI governance track, where the rules attached to the hardware get written. The West’s greatest advantage in Southeast Asia is that its standards are already the region’s default, but that won’t last if no one from Washington or Brussels shows up to defend and extend those principles.

Second, the United States must treat Southeast Asian agency as the asset it is. The instinct in Washington is to demand alignment, but ASEAN’s hedging culture rejects this mentality, according to the author.

The states best able to resist China’s normative influence are not necessarily the most loyal U.S. allies but the most institutionally capable. Supporting regulatory capacity, training, and legal reform – without requiring alignment – can strengthen the filtering mechanisms that have kept Beijing’s model at bay thus far. Third,

Washington must show up for the AI governance contest specifically, because it is here that the end result is most in question. That means funding Southeast Asian participation in international AI forums, engaging ASEAN’s governance process as a serious interlocutor rather than an afterthought, and offering frameworks worth borrowing from, the article further states.

--IANS

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New Delhi, Aug 21 (IANS) BMW India on Friday unveiled the first locally manufactured electric sedan from its portfolio -- the BMW i5 Long Wheelbase -- and opened bookings for the luxury electric vehicle across its dealer network.

The BMW i5 Long Wheelbase will be produced at BMW Group Plant Chennai which is the second electric BMW model to be manufactured in India and the company's first locally produced electric sedan in the country.

The new BMW X1 Long Wheelbase (LWB) was launched at an introductory price of Rs 49.90 lakh (ex-showroom).

According to the luxury car maker firm, the launch marks its latest push into the premium electric mobility segment amid growing demand for luxury EVs in India.

The first-ever BMW i5 Long Wheelbase stands as the largest and longest sedan in its segment in terms of size (5,175 mm length, 2,156 mm width, 1,520 mm height).

“The commanding 3,105 mm wheelbase means extra space for the rear passengers who want to travel in the utmost luxurious comfort. Powering this electric sedan is a robust electric motor delivering 268 hp of instantaneous power, propelling from 0 to 100 km/h in just 6.7 seconds,” informed the company.

Equipped with an advanced 81.6 kWh high-voltage battery pack, the i5 delivers an exceptional, anxiety-free driving range of up to 669 km (MIDC) on a single charge.

The SUV is covered by a standard two-year warranty with unlimited kilometres and two years of roadside assistance.

Service packages start from three years or 40,000 kilometres and can be extended to 10 years or 1,00,000 kilometres. The warranty can also be extended for up to 10 years.

BMW Group India recently highlighted its financial services arm, which offers customised financing solutions including flexible EMIs, reduced interest rates on select models, assured buy-back options and end-of-term flexibility through its BMW Smart Finance programme.

--IANS

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New Delhi, Aug 21 (IANS) The government on Friday said that 29 FDI investments have been reported under the revised framework (up to August 20), involving proposed FDI of Rs 4,895.65 crore.

The 29 investments have been reported by investors and entities based in jurisdictions including Mauritius, the United States, the Republic of Korea, Japan, Singapore, Luxembourg and the Cayman Islands, according to a Commerce Ministry statement.

These investments span a range of sectors, including Information Technology, Artificial Intelligence, Information & Communication, Manufacturing, Pharmaceuticals, Data Centres and Transport Services, among others, said the statement.

The official statement further said that the revised framework facilitates and expedites the flow of foreign investment into India by removing the requirement of prior Government approval in cases involving non-controlling Land Bordering Countries (LBC) ownership of up to 10 per cent.

The reform provides greater certainty to investors, reduces transaction time and further strengthens the ease of doing business in India.

“Earlier, foreign investors with beneficial ownership from LBCs of India were required to obtain prior Government approval under Press Note 3 of 2020, even where such LBC ownership was very small. This had been a long-standing concern among investors seeking greater clarity and ease of investment,” the statement noted.

With 'Press Note 2 of 2026' and the consequent amendment to the Foreign Exchange Management (Non-debt Instruments) Rules, 2019, notified on May 1, 2026, the beneficial ownership test is now applied at the level of the investor entity.

Investors with non-controlling LBC ownership of up to 10 per cent can invest through the automatic route, subject to applicable sectoral caps, entry routes and other conditions.

The investor entity can proceed with the investment without obtaining any other approval, after reporting the relevant information to the Government, said the ministry.

--IANS

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New Delhi, Aug 21 (IANS) Pakistan's central government debt rose to Rs 81.9 trillion during July-May of fiscal year 2025-26, a report has said, citing the government.

A report published in the Business Recorder said total domestic debt stood at Rs 58.1 trillion (Pakistani rupee), while external debt, excluding obligations to the International Monetary Fund (IMF), amounted to Rs 23.8 trillion.

Total central government debt was Rs 77.9 trillion in July 2025, comprising Rs 54.5 trillion in domestic debt and Rs 23.4 trillion in external debt.

“Total central government debt stood at Rs 77.9 trillion in July 2026, including domestic debt of Rs 54.5 trillion and external debt of Rs 23.4 trillion,” the report said.

Debt increased by Rs 4 trillion over the first 11 months of the fiscal year.

“During the 11 months, the total debt of the central government increased by Rs4 trillion, or 5.2 per cent, marking the slowest pace of increase in the last 15 years on an 11-month fiscal-year basis,” according to the report.

Aurangzeb said Pakistan's fiscal responsibility and debt limitation act requires a gradual reduction in public debt, targeting a debt-to-GDP ratio of 50 per cent by FY33 through annual reductions beginning in FY24.

According to the report, the debt-to-GDP ratio was estimated at 68.5 per cent in June 2026. Based on public deposit data available through end-March 2026, the ratio for FY26 was estimated at 62.2 per cent.

The government has also pursued debt-management initiatives such as debt buybacks, retirements and a shift toward longer-tenor borrowing instruments.

Interest payments during the first nine months of FY26 fell to Rs 4.9 trillion from Rs 6.4 trillion a year earlier, a decline of 23 per cent.

--IANS

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New Delhi, Aug 21 (IANS) Emerging technologies create new opportunities for progress but require stronger international cooperation to keep innovation accessible, affordable, trusted and sustainable, Union MoS Science and Technology and Earth Sciences Dr. Jitendra Singh said on Thursday at 14th BRICS Science, Technology and Innovation (STI) Ministerial Meeting.

Dr. Singh urged BRICS partners to pursue practical pathways for deeper collaboration in frontier research, innovation financing, talent mobility, research infrastructure sharing, startup partnerships and capacity building, an official statement said.

Such cooperation can help create a future‑ready BRICS STI architecture that is responsive to global challenges and supportive of the aspirations of the Global South, Dr. Singh said.

The minister said the world is undergoing rapid transformation driven by emerging technologies such as Artificial Intelligence, quantum technologies, advanced materials, biotechnology, photonics, geospatial technologies and high-performance computing.

The minister defined India’s growing global outreach in science, technology and innovation under the leadership of Prime Minister Narendra Modi.

Dr. Singh said India remains committed to advancing an open, inclusive and human-centric approach to science and innovation.

He referred to India’s initiatives including the National Quantum Mission, National Supercomputing Mission, BioE3 Policy, National Geospatial Policy and the expanding Digital Public Infrastructure ecosystem, which reflect an approach where innovation improves people’s lives, and supports sustainable economic transformation.

Welcoming the delegations from BRICS member countries, Dr. Singh said India has chosen “Building for Resilience, Innovation, Cooperation and Sustainability” as the theme of its BRICS Presidency in 2026.

The theme reflects the shared conviction that science, technology and innovation must serve humanity by enhancing resilience, driving inclusive growth, promoting sustainable development and fostering equitable partnerships among nations.

BRICS, with its vast population, scientific talent and growing research capabilities, is well placed to foster a cooperative, responsible and future-oriented innovation ecosystem, he added.

Dr. Singh also acknowledged the contribution of the STI Steering Committee, senior officials and various STI Working Groups in sustaining dialogue and translating it into practical cooperation and tangible outcomes.

The minister said BRICS STI cooperation has evolved into a robust platform encompassing research collaboration, innovation partnerships, young scientist exchanges, research infrastructures and thematic working groups.

During India’s Presidency, a comprehensive review of BRICS STI priorities was undertaken to align cooperation with emerging scientific and technological frontiers and the developmental aspirations of societies.

—IANS

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New Delhi, Aug 21 (IANS) IT services firm Cognizant has notified customers of a data breach that occurred on April 21, 2026, which may have exposed personal information, while stating that there is no evidence so far that the data has been misused, as per multiple reports.

In a notification sent to affected individuals, the US-headquartered company said it was informing customers as a precautionary measure despite having no reason to believe the information had been improperly used.

“While we have no reason to believe that your information was misused, we thought it prudent to make this notification,” Cognizant said in the letter. “We deeply regret this incident and any inconvenience to you.”

The disclosure comes amid heightened scrutiny of cybersecurity practices in the Indian IT services sector. Over the past two weeks, industry peers Tata Consultancy Services (TCS), HCLTech and Hexaware have denied reports of alleged employee data leaks within their organisations.

According to media reports, a cybercrime group known as CoinbaseCartel has claimed responsibility for the Cognizant breach. The incident reportedly exposed Social Security numbers and other personal information.

Cognizant advised affected individuals that they may file a police report or place a security freeze on their credit reports at no cost. A security freeze prevents credit reporting agencies from releasing information from a consumer's credit report without written authorisation.

The company has also offered identity theft protection services through IDX, a provider of data breach response and recovery services. The package includes 24 months of credit and CyberScan monitoring, identity theft recovery support and an insurance reimbursement policy of up to $1 million.

“With this protection, IDX will help you resolve issues if your identity is compromised,” Cognizant said. However, the company did not provide details on the number of individuals affected by the incident.

--IANS

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Mumbai , Aug 21 (IANS) Indian equity markets ended on a mixed note on Friday, with the benchmark indices largely flat as global equities retreated following a rebound in bond yields, while rising crude oil prices amid simmering tensions between the US and Iran kept investors cautious.

The Sensex gained just 3.11 points to settle at 77,540.83, while the Nifty edged up 20.15 points, or 0.08 per cent, to close at 24,252.00.

Commenting on Nifty technical outlook, experts said that the 24,000–24,200 zone remains the key support base, reinforced by heavy Put open interest at the 24,000 strike.

"On the upside, this week's high of 24,360 falls within the broader 24,300–24,400 resistance zone, making this the immediate hurdle for the index," an analyst stated.

"A sustained move above 24,360–24,400 could trigger a quick advance towards 24,500–24,600," a market expert mentioned.

Despite the marginal gains in the day's session, both the Sensex and Nifty declined for the second consecutive week, reflecting continued concerns over global market conditions and geopolitical risks.

Among the major Nifty losers, Trent, Maruti Suzuki India and InterGlobe Aviation came under pressure and ended among the top-performing stocks on the downside.

The broader market, however, showed some resilience. The Nifty MidCap index rose 0.1 per cent, while the Nifty SmallCap index gained 0.69 per cent.

Sectorally, the Nifty FMCG, Nifty Auto and Nifty IT indices underperformed the broader market. In contrast, the Nifty Metal and Nifty Private Bank indices emerged as the key outperformers during the session.

Experts said that market sentiment remained cautious as investors continued to track movements in global bond yields, crude oil prices and developments surrounding tensions between the US and Iran.

"The elevated global bond yields continue to cause worry in the market. The recent US Treasury’s move to ease the bond yields failed to provide lasting comfort, given surging crude prices and persistent inflation fears," the analyst stated.

--IANS

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New Delhi, Aug 21 (IANS) MC²+ -- the energy innovation platform under the Ministry of Petroleum & Natural Gas -- has launched MC²+ Ignite, a sector-specific accelerator programme that will select approximately 30 deep‑tech startups and offer milestone‑linked convertible funding of up to Rs 2 crore to each of them, a statement said on Friday.

The programme is designed to help deep-tech startups move from technology development and laboratory validation to industrial pilots and commercial deployment.

MC²+ Ignite will connect startups with capital, R&D infrastructure, technical expertise, industry mentors, pilot opportunities and potential commercial pathways through participating energy companies, the statement added.

Applications for the inaugural MC²+ Ignite cohort will close on August 31, 2026 and selected startups will be announced on September 15, 2026.

MC²+ is a Section 8 not-for-profit energy innovation platform led by the Ministry of Petroleum & Natural Gas and backed by India’s energy majors.

It was created to help translate energy and industrial deep-tech innovations from the laboratory into real-world deployment.

The platform brings together energy companies, research institutions, startups and innovators to address industry problem statements and create pathways for promising technologies to be tested, piloted and ultimately commercialised.

The programme will operate through a hub in Delhi and nodes within R&D centres of participating oil and gas companies, enabling startups to work closer to real industrial environments and access pilot sites for technology validation.

MC²+ has partnered with premier institutions including IIT Madras, IIT Kanpur, IIT Kharagpur, C-CAMP and Venture Centre, Pune, giving startups access to infrastructure, laboratories and mentoring capabilities across India.

The platform aims to create a direct interface between industry problem statements, scientific research, startup innovation and commercial deployment—reducing the distance between a technology being developed in a laboratory and its adoption in the energy sector.

Dr. Neeraj Mittal, Secretary, Ministry of Petroleum & Natural Gas and Chairman, MC² Foundation, said the platform was created to address duplication and fragmentation in energy-sector R&D and establish stronger links between industry requirements, research institutions and startups.

“Several of our companies can be working on the very same catalyst at the same time. That is duplication of work, of investment and of bureaucracy and it comes with no direct interface to the institutions where the research is actually happening,” Mittal said.

Dr. Mittal also emphasised the need for Indian energy technologies to be developed with global markets in mind.

The platform will support startups through the entire cycle, he said, adding that technical and managerial mentorship will be provided.

“A PSU will procure your product when it is ready. You should not have to worry about whether a market exists,” Mittal added.

—IANS

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New Delhi, Aug 21 (IANS) The Directorate General of GST Intelligence (DGGI) has uncovered a clandestine manufacturing operation involving pan masala, scented jarda and gutkha across six premises in Uttar Pradesh's Chitrakoot and Banda districts, according to an official statement on Friday.

According to the Ministry of Finance, acting on specific intelligence, officers of the DGGI's Lucknow Zonal Unit launched coordinated searches around midnight on August 18 at premises linked to two firms, one engaged in the manufacture of pan masala and allied products and the other involved in trading activities.

During the searches, officials detected 27 undeclared pouch-packing machines, including six machines used for scented jarda, nine for pan masala and 12 for dohara/desi gutkha, the ministry said, adding that mixing, areca nut crushing and drying machines were also found at the premises.

In addition, authorities seized 1,550,922 pouches of finished products, including pan masala, chewing tobacco, scented jarda and sugandhit supari.

Raw materials and packaging materials seized included 32.9 metric tonnes of areca nut and cut areca nut, 2.8 metric tonnes of tobacco, 8.4 metric tonnes of packaging material, pouches and laminates, 470 kg of katha powder, 850 kg of glycerine, 545 kg of essence and 256 kg of unpacked pan masala.

According to the ministry, evasion of Goods and Services Tax (GST), Health Security and National Security (HSNS) Cess and Central Excise duty amounting to about Rs 185 crore has been detected so far.

Preliminary evidence suggests the operation was being run through a network of unregistered premises using undeclared machinery, with goods allegedly cleared without payment of applicable taxes, cess and duties, it said.

Moreover, the proprietor of the manufacturing firm was found prima facie to be responsible for organising and managing the clandestine manufacturing and clearance activities and was arrested on August 19 under provisions of the HSNS Cess Act, 2025, and the Central Excise Act, 1944, and produced before the Special Chief Judicial Magistrate (Customs), Lucknow, who remanded him to judicial custody. The investigation is continuing and further recoveries are expected, officials said.

--IANS

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