Tag: acquisition

Tata Electronics to become a key Apple player after Wistron’s iPhone plant acquisition

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New Delhi: As Apple doubles down on local manufacturing in India, Taiwan-based iPhone manufacturer Wistron is reportedly winding up its operations in the country and Tata Electronics is set to take over Wistron’s Karnataka factory and manufacture new Apple products.
The move will only give a fillip to the government’s local manufacturing dream, at a time when iPhone exports from the country surged to cross $5 billion (over Rs 40,000 crore) in FY23.
Wistron’s factory in Karnataka, that employs about 12,000 people, constitutes a major chunk of its business in the country.

According to a report in Hindu Business Line, Wistron will be winding down its operations and is “likely to approach the National Company Law Tribunal and the Registrar of Companies to dissolve its India operations within the next year.”
The 150-year-old Tata Group has taken several measures to step up its business with Apple in the recent past.
Prabhu Ram, Head, Industry Intelligence Group, CMR, told IANS that the ‘Make in India’ initiative is set to gain even more momentum with the emergence of homegrown majors, such as Tata Electronics, “and the possibility of concurrent production of the Apple iPhone 15 and beyond.”
“As we progress, these initial steps will undoubtedly bolster India’s semiconductor ecosystem and strengthen its position in the global electronics value chains,” Ram added.
According to the report, Wistron is also waiting for some subsidy payments under the smartphone production-linked (PLI) scheme, before it winds down its India operations.

In FY23, Apple shipped more than 7 million iPhones and half a million iPads in the country, registering a 28 percent growth for iPhone shipments, according to initial estimates provided by market intelligence firm CMR.
As Apple doubles down on domestic manufacturing in India, the tech giant is likely to garner 6 percent market share in FY23-34, with selling more than 8 million iPhones in the country in the period.
In such a scenario, Tata Group is hopeful of India becoming an electronics manufacturing hub after the conglomerate succeeded in its efforts to take over Wistron’s iPhone assembly plant, according to earlier reports.
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#Tata #Electronics #key #Apple #player #Wistrons #iPhone #plant #acquisition
( With inputs from www.siasat.com )

May 4, 2023
Tata Electronics to become a key Apple player after Wistron’s iPhone plant acquisition

[ad_1]
New Delhi: As Apple doubles down on local manufacturing in India, Taiwan-based iPhone manufacturer Wistron is reportedly winding up its operations in the country and Tata Electronics is set to take over Wistron’s Karnataka factory and manufacture new Apple products.
The move will only give a fillip to the government’s local manufacturing dream, at a time when iPhone exports from the country surged to cross $5 billion (over Rs 40,000 crore) in FY23.
Wistron’s factory in Karnataka, that employs about 12,000 people, constitutes a major chunk of its business in the country.

According to a report in Hindu Business Line, Wistron will be winding down its operations and is “likely to approach the National Company Law Tribunal and the Registrar of Companies to dissolve its India operations within the next year.”
The 150-year-old Tata Group has taken several measures to step up its business with Apple in the recent past.
Prabhu Ram, Head, Industry Intelligence Group, CMR, told IANS that the ‘Make in India’ initiative is set to gain even more momentum with the emergence of homegrown majors, such as Tata Electronics, “and the possibility of concurrent production of the Apple iPhone 15 and beyond.”
“As we progress, these initial steps will undoubtedly bolster India’s semiconductor ecosystem and strengthen its position in the global electronics value chains,” Ram added.
According to the report, Wistron is also waiting for some subsidy payments under the smartphone production-linked (PLI) scheme, before it winds down its India operations.

In FY23, Apple shipped more than 7 million iPhones and half a million iPads in the country, registering a 28 percent growth for iPhone shipments, according to initial estimates provided by market intelligence firm CMR.
As Apple doubles down on domestic manufacturing in India, the tech giant is likely to garner 6 percent market share in FY23-34, with selling more than 8 million iPhones in the country in the period.
In such a scenario, Tata Group is hopeful of India becoming an electronics manufacturing hub after the conglomerate succeeded in its efforts to take over Wistron’s iPhone assembly plant, according to earlier reports.
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#Tata #Electronics #key #Apple #player #Wistrons #iPhone #plant #acquisition
( With inputs from www.siasat.com )

May 4, 2023
SC confirms HC order quashing land acquisition for Vedanta University

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New Delhi: The Supreme Court on Wednesday confirmed the 2010 Orissa High Court decision to quash acquisition of 6,000 acres of land in 2006 for Anil Agrawal-led Vedanta Resources Ltd to establish a university there.
A bench of Justices M.R. Shah and Krishna Murari said: “It is not appreciable why the government offered such an undue favour in favour of one trust/company. Thus, the entire acquisition proceedings and the benefits, which were proposed by the state government were vitiated by favourism and violative of Article 14 of the Constitution of India.”
It said the most important aspect, which is required to be considered is the non-application of mind by the state government on environmental aspects and passing of two rivers from the acquired lands in question.

It is not in dispute that from the lands in question two rivers, namely Nuanai and Nala are flowing, which as such were acquired by the state government, it added.
“How the maintenance of the rivers etc. can be handed over to the beneficiary company. If the lands in question are continued to be acquired by the beneficiary company, the control of the rivers would be with the said private company, which would violate the Doctrine of Public Trust,” said the bench.
It added that the large-scale construction for the establishment of the proposed university as observed by the high court will also adversely affect the wildlife sanctuary, entire ecosystem, and the ecological environment in the locality. “It is a duty of the state to protect the wildlife sanctuary and it may affect the entire ecosystem and the ecological environment in the locality,” said the bench.
It further added that merely because the Balukhand Wildlife Sanctuary is separated from the proposed site by a highway – Pthe uri-Konark Marine Drive, cannot be a ground to acquire the huge lands for the proposed university and as rightly observed by the high court, the same will adversely affect the wildlife sanctuary and the entire ecosystem and the ecological environment in the locality.
“The aforesaid aspects have not at all been considered by the state government and/or the Collector and/or the appropriate authority even while considering the proposal and/or even the objections under Section 5A of the Act, 1894,” said the bench.

The top court dismissed the appeal filed by the Anil Agrawal Foundation against the judgment of the high court and also imposed a Rs 5 lakh cost. The bench said initially, 15,000 acres was proposed to be acquired, which is now reduced to 3,837 acres, meaning thereby, the proposal was for exaggerated demand and this was mala fide intention on the part of the appellant company/foundation.
The bench observed that it is required to be noted that the lands were proposed to be acquired at the instance of one foundation/company and the state government was dealing with the lands belonging to the agricultural landowners.
“It is required to be noted that the government is holding a public trust and has to deal with the lands belonging to private landowners, more particularly, agricultural landowners in accordance with law. The state government could not have considered the proposal from only one beneficiary/trust. There may be other public trusts/companies, who might be interested in establishing such a university. Even no proper inquiry seems to have been initiated by the government/Collector while considering the proposal by the beneficiary company,” said the bench, in its 103-page judgment.
The bench noted that the lands to be acquired are agricultural lands belonging to 6,000 families and their only source of livelihood is on the agricultural lands, which cannot be compensated in terms of money, therefore, the proposal made now has to be rejected outright.
Citing the detailed findings recorded by the high court, the bench said: “We are more than satisfied that the High Court has not committed any error and in fact the High Court was justified in setting aside the entire acquisition proceedings, which has been vitiated by non-compliance of the statutory provisions under the Act, 1894 and the Rules, 1963 and vitiated by mala fides and favourism and is a clear case of the non-application of mind on relevant aspects. We are in complete agreement with the view taken by the High Court.”
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#confirms #order #quashing #land #acquisition #Vedanta #University
( With inputs from www.siasat.com )

April 12, 2023
India approves capital acquisition of military hardware worth Rs 70,584 cr

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New Delhi: India on Thursday approved capital acquisition of a plethora of indigenously-developed military hardware including indigenous BrahMos missiles, marine diesel engine, artillery gun system, electronic warfare suits and utility helicopters at a cost of Rs 70,584 crore as part of a mega procurement plan.
Out of the total acquisition plan, the Indian Navy’s proposals constitute more than Rs 56,000 crore, which largely included Shakti Electronic Warfare (EW) systems, maritime helicopters and other key equipment, officials said.
All the platforms and weapons systems are being procured from domestic sources.
The other key military hardware which are being procured included long range stand-off weapon (LRSOW), K-9 Vajra-T gun system, 155mm/52 caliber advanced towed artillery gun system (ATAGS) and gun towing vehicles (GTVs) for the Indian Army.
The approval to the procurement proposals has been accorded by the Defence Acquisition Council (DAC) chaired by Defence Minister Rajnath Singh, an official statement said.
The approval for a medium speed marine diesel engine is seen as a significant step as for the first time, India is venturing into the development and manufacturing of such engines indigenously.
The go ahead to the fresh procurement proposals came amid the nearly three-year standoff along the Line of Actual Control in eastern Ladakh with China.
The DAC accorded Acceptance of Necessity (AoN) for capital acquisition amounting to Rs 70,584 crore and all the procurement will be made under the Buy (Indian-IDDM) category.

The total approval granted for capital acquisition in the financial year 2022-23 now stands at Rs 2,71,538 crore, out of which 98.9 per cent of the procurement will be sourced from the Indian industries, the officials said.
“Such quantum of indigenous procurement will not only galvanize the Indian industries towards achieving the goal of ‘Aatmanirbhar Bharat’ (self-reliant India) but also reduce India’s dependency on foreign vendors to a large extent,” Singh’s office tweeted.
About Navy’s proposals, the defence ministry said while the additional procurement of BrahMos missile system will enhance the maritime strike capabilities and anti-surface warfare operation, the addition of utility helicopters will multiply the operational readiness of the force.
Similarly, Shakti systems will equip and modernise the frontline Naval ships to counter any Naval operations by the adversaries, it said.
“To keep pace with the emerging technologies and counter the adversaries in the Western and Northern front, the necessity of the new weapons and its integration with the delivery platforms was felt by the government,” the ministry said.
“To achieve the same objectives, the DAC accorded the approval to Indian Air Force’s proposal for Long Range Stand-Off Weapon (LRSOW) which will be indigenously designed, developed and integrated on SU-30 MKI aircraft,” it said.
“For artillery modernisation, in addition to the ongoing Dhanush Gun System and K-9 Vajra-T Gun System, AoN for procurement of 155mm/52 Caliber Advanced Towed Artillery Gun System (ATAGS) along with High Mobility Vehicles (HMVs) and Gun Towing Vehicles (GTVs) for the Indian Army was accorded by the DAC,” it said.
“It (DAC) also accorded AoN for procurement of Advance Light Helicopters (ALH) MK-III from Hindustan Aeronautics Limited for the Indian Coast Guard. The helicopter will be able to carry a suite of surveillance sensors which will enhance the surveillance capabilities,” the ministry said.
“It will also give full night capability and Instrument Flight Rules (IFR) capability for operations of the Indian Coast Guard,” it said.
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#India #approves #capital #acquisition #military #hardware #worth
( With inputs from www.siasat.com )

March 16, 2023
Xbox: Acquisition of Activision Blizzard is not fundamental, says Phil Spencer

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Phil Spencer stated that theacquisition of Activision Blizzard is not a “pivot” to the future of Xboxesalbeit of great importance, and that Microsoft’s gaming division will continue to exist regardless of the outcome of this $69 billion maneuver.
Responding to a question from the Times, which asked what would happen to Xbox if such a strategically important acquisition were blocked by the CMA, the European Commission and the FTC, Spencer said that the gaming division does not depend on it and will continue to thrive regardless.
“This is an important acquisition for us. It’s not some sort of pivot in the long run – Xbox will continue to exist even if the deal doesn’t go through,” Spencer said.
Phil Spencer
In the same interview Spencer stated that more competition in the console market would guarantee gamers more choiceand therefore the advantages.
“The competition is us getting stronger,” he added. “In my view, in a scenario where we, Sony and Nintendo do well in the console market – all with their own strengths, uniqueness, content and capabilities – it gives gamers more choice.
“I hate to see consoles go in the direction of the mobile market where there are only two manufacturers. And right now we have three very good competitors.”
Finally, Spencer said that he feels sympathy for the regulators who have the difficult task of having to evaluate the acquisition of Activision Blizzard, as it is a question of analyzing a complicated market, between console and cloud, unknown to many of them.
“Most of the time in my Xbox career when I’ve met with government regulators, there’s been a real lack of knowledge about the video game industry,” Spencer said. “I appreciated being able to spend time with them and in some cases helping to educate on these topics. I think for many regulators this is their first time in this area.”

#Xbox #Acquisition #Activision #Blizzard #fundamental #Phil #Spencer

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#Xbox #Acquisition #Activision #Blizzard #fundamental #Phil #Spencer
( With inputs from : pledgetimes.com )

February 27, 2023
1,457 cases pending related to compensation for land acquisition

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New Delhi: A total of 1,457 cases are pending in various high courts, related to compensation for land acquisition against the government or the National Highway Authority of India (NHAI) wherein no response could so far be filed, the Rajya Sabha was told on Wednesday.
Union Minister of Road Transport and Highways, Nitin Gadkari, in a written reply at the Rajya Sabha, said: “There is no delay in filing of replies. Therefore, the question of fixing responsibility does not arise.”
“Instructions have been issued to all concerned officers to file the response on behalf of the government or NHAI within the prescribed time limit in the matters pending before the High Courts,” he added.
The Ministry of Road Transport and Highways has issued instructions and guidelines regarding timely handling of court cases in which it has been instructed that the concerned field office of the agency involved in the development and maintenance of national highways, shall file a suitable counter affidavit in court cases, well before the date of hearing of the case before the court and defend the case on behalf of the Central government, said the reply.
The Ministry said that many efforts have been taken for resolution of land acquisition compensation disputes. It includes introduction of BhoomiRashi portal for online submission of LA notification for reducing the time in publication and payment of compensation.
The efforts in this regard also include regular meetings with state governments for speedy land acquisition and timely disbursement of compensation.
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#cases #pending #related #compensation #land #acquisition
( With inputs from www.siasat.com )

February 8, 2023