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Government Cuts Import Duty On Phone Components Cut To 10% From 15%

The Indian government has strategically reduced import duties on mobile phone components to boost the domestic manufacturing industry. Import duties on parts us... The Indian government has strategically reduced import duties on mobile phone components to boost the domestic manufacturing industry. Import duties on parts used in mobile phone manufacturing have been decreased from 15% to 10%. This move aligns with India's broader objectives of strengthening its position in global supply chains and fostering increased exports. India has been emerging as a key hub for mobile phone manufacturing, attracting major global players to establish production facilities in the country.

Finance Ministry Highlights Key Economic Challenges

The Finance Ministry has outlined four key challenges facing India's economy in its report, "The Indian Economy: A Review," ahead of the Interim Budget. These c... The Finance Ministry has outlined four key challenges facing India's economy in its report, "The Indian Economy: A Review," ahead of the Interim Budget. These challenges include the impact of artificial intelligence on the services sector, where over 50% of GDP is generated, necessitating workforce retraining. Balancing energy security with the transition to renewables is another complex challenge, considering climate commitments and growing energy needs. The availability of a skilled workforce remains crucial for economic growth, requiring reforms in healthcare and education. Despite these challenges, the ministry forecasts a positive growth trajectory, aiming for 7% or higher GDP growth in 2023-24 and potentially in 2024-25, supporting India's goal of becoming a $7 trillion economy by 2030.

Integrated Industrial Township, Greater Noida

Prime Minister Narendra Modi inaugurated the Integrated Industrial Township in Greater Noida (IITGN), a 750-acre smart township designed to compete with global ... Prime Minister Narendra Modi inaugurated the Integrated Industrial Township in Greater Noida (IITGN), a 750-acre smart township designed to compete with global manufacturing hubs. Developed by the Delhi Mumbai Industrial Corridor and the Greater Noida Authority, the Rs 1,700 crore project has attracted over Rs 4,000 crore in investments from companies like Haier and Forme Mobile, generating approximately 11,000 jobs. The Delhi Mumbai Industrial Corridor (DMIC), the country's first industrial corridor, serves as the backbone for the project, covering a vast stretch across several states in western India. The IITGN, part of the government's initiative to build industrial smart cities, emphasizes world-class infrastructure and incentives to attract global investments. Additionally, infrastructure upgrades and transportation enhancements were inaugurated to further facilitate the development.

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Government Cuts Import Duty On Phone Components Cut To 10% From 15%

Finance Ministry Highlights Key Economic Challenges

Integrated Industrial Township, Greater Noida

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