India's PLI, Nestle, NexGen, BYD, Nvidia, DALL-E, Elon Musk, etc.

Author

Vaishali Sharma
April 05, 2024

India's $1 Billion Boost: Fueling Local Manufacturing Through PLI Scheme

  • India has allocated $1.02 billion in incentives under the PLI scheme to promote local manufacturing.

  • The PLI scheme, launched in 2020, aims to stimulate $24 billion in industrial growth across 14 sectors.

  • Major global and Indian companies, such as Apple, Samsung, and Reliance Industries, have engaged with the scheme.

  • Mobile phone exports surged to $15 billion in the last fiscal year, marking a significant achievement of the PLI scheme.

  • Goods worth 3 to 3.5 trillion rupees have been exported under this scheme.

  • Rapid growth observed in sectors like electronics and mobile manufacturing, while textiles and specialty steel.

Justice Served: Nestle Triumphs in Long-Standing Maggi Legal Battle

  • NCDRC dismisses the government's 2015 plea against Nestle India concerning Maggi noodles.

  • The Department of Consumer Affairs had accused Nestle of unfair trade practices and selling defective goods.

  • The government sought compensation totaling over Rs 640 crore from Nestle.

  • The complaint was rooted in a 2015 incident where Maggi noodles were found to contain excessive lead levels by the FSSAI.

  • Subsequent tests, however, declared Maggi noodles safe, leading to their return to the market.

  • This case marked the first time the Consumer Affairs Ministry used the Consumer Protection Act to drag a company to the NCDRC.

Briefs, You Can’t Miss:

  1. GE Power India Witnesses Stellar 113% Growth in Stock Price Over 5 Months. 

  2. Essential Drug Prices to Remain Stable in FY25, Announces Mandaviya.

  3. Tesla Eyes India for New $3 Billion Electric Vehicle Factory, According to FT. 

  4. RIL, Tata Motors, and IOC Lead Bidding for Pilot GH2 Project. 

  5. Uttarakhand Set to Open Plant for Lithium-Ion and E-Waste Recycling.

  6. 9% Pay Rise Expected Across India Inc in 2024, Says AmbitionBox Survey.

  7. NexGen Energia’s Latest Electric Two-Wheeler Hits Market at Rs 36,990. 

World Briefs

  • BYD’s First Electric Pickup Truck to Hit the Market, Rivals Tesla and Ford. 

  • Nvidia’s Supplier SK Hynix Announces $3.87 Billion U.S. Chip Facility Investment.

  • Semiconductor Companies Flock to Malaysia in Wake of U.S.-China Chip Tensions.

  • Google Takes Legal Action Against Crypto Scammers Over Fake Android Apps.

AI Briefs

  • Hanooman and Abu Dhabi’s 3AI Holding Forge Strategic AI Partnership.

  • Google May Restrict AI-Powered Search to Paid Users, According to a Report.

  • Elon Musk Confirms Salary Increase for Tesla AI Engineers in Talent Competition.

  • AI Coalition and Labeling on the Table in India’s Fight Against Election Misinfo.

  • Edit Images Directly in ChatGPT with DALL-E’s upgraded Functionality.