The semiconductor sector in India is growing rapidly. According to an estimate, the semiconductor sector in India will create 10 lakh jobs by 2026. In this regard, a report on Monday said that as India is set to become a semiconductor manufacturing hub, this industry is set to provide 1 million jobs across various sectors by 2026. Talent solutions company NLB Services reports that this includes approximately 300,000 jobs in semiconductor chip manufacturing, around 200,000 positions in ATMP and additional roles in chip design, software development, systems circuits and manufacturing supply chain management.
Due to increasing technological innovation, the number of patent applications in India has doubled in the last five years. India now ranks sixth in the world in this field. The Union Ministry of Commerce and Industry has provided this information. According to the ministry, patent and industrial applications from India have doubled between 2018 and 2023. While trademarks have increased by 60%. The country now ranks sixth globally with 64,480 patent applications, an increase of 15.7%.
Lifestyle change in India, increased shopping
The basket size of consumer goods in rural India has seen a 60 per cent increase. This growth reflects the increasing consumption patterns i.e. lifestyle changes and increase in purchasing power in 2024. It has increased from 5.8 in 2022 to 9.3 in 2024. This growth is attributed to the increasing preference for convenience products, such as beverages and ready-to-eat (RTE) items.
Monthly net inflows into equity mutual fund (MF) schemes rose 22 per cent month-on-month to an all-time high of Rs 41,887 crore in October. The previous record of Rs 40,608 crore was reached in June this year. Assets (AUM) of the MF industry hit a record high of Rs 67.3 trillion in October.
Industry experts have attributed this to the global investment made by investors to take advantage of the market decline. The market crash provided a good investment opportunity and investors spared no effort to take advantage of it. In this way, net investment was recorded in this segment for the 44th consecutive month.
Mutual fund industry hits record high
On the other hand, the Indian mutual fund industry hit a record high in October 2024. Monthly contributions to SIPs crossed Rs 25,000 crore for the first time. Strong capital flows into equity-oriented schemes and growing preference for disciplined investments through SIPs led to higher participation by retail investors, taking mutual fund portfolios to an all-time high. In September, this figure was Rs 25,323 crore as against Rs 24,509 crore. The monthly contribution to the SIP in the same period of the previous year was recorded at Rs 16,928 crore.
There is also a jump in the net direct tax collection of the Government of India. During the period from April 1 to November 10 this year, it rose 15.4 percent to 12.1 trillion rupees ($143 billion) compared to last year. Direct taxes, which include corporate and personal taxes, grew more than 21 percent in gross terms during the period to Rs 15 trillion, the Income Tax Department said. The government said it has issued tax refunds worth 2.9 trillion rupees.
India’s Solar PV Exports Increased 23 Times
India’s solar PV exports have grown 23-fold in the last two years. According to a report, India’s solar photovoltaic (PV) module exports have increased dramatically. It has increased almost 23 times in just two years between FY22 and FY24. This reflects a big change. Solar modules have gone from import to export.
The IEEFA and JMK Research and Analytics report showed that Indian manufacturers exported PV modules worth around $2 billion in fiscal 2024. The United States emerged as the largest market, contributing more than 97 percent of these exports. India’s three largest manufacturers (Vaari Energies, Adani Solar and Vikram Solar) contributed the most to PV exports.
IGNYTE, the flagship brand of national helmet manufacturer Steelbird, has made its debut in the European market. The company has presented a range of more than 36 helmet models. All of them are certified with the European safety standard ECE 22.06. This step is also associated with the country’s ‘Make in India, Make for the World’ initiative. The GNYTE range is the first Indian brand to receive ECE 22.06 and DOT certification.
Benefits available under PM Vishwakarma
More than 10.8 lakh traditional artisans and craftsmen have been trained under the government’s flagship programme, PM Vishwakarma, since its launch in September last year. In which the 5 main trades are tailoring, masonry, carpentry, barbering and garland maker. About 40% of qualified candidates are women, and many have received training in traditional bamboo art, sculpture and crafts, such as making boats and fishing nets. According to data shared by the Ministry of Skill Development and Entrepreneurship (MSDE), of those trained, over 5.8 lakh belong to Other Backward Classes (OBC), over 1.9 lakh belong to Scheduled Castes (SC).
According to the data, Karnataka has the highest number of certified candidates at 1.1 lakh, followed by Jammu and Kashmir (82,514) and Gujarat (82,542). So far, loans worth Rs 551.8 million have been provided to the beneficiaries of this scheme, of which Rs 132.4 million have been disbursed.
India leads the way in AI adoption
According to a report by Boston Consulting Group (BCG), India is at the forefront of adopting Artificial Intelligence (AI). According to the BCG report, 26 percent of global companies use AI. The financial technology, software and banking sectors are increasingly using AI in their operations. The report indicates that after several years of investing, hiring talent and launching pilots in Artificial Intelligence (AI), solid returns are being sought from this technology.
The report is based on a survey of 1,000 senior executives from more than 20 sectors spanning 59 countries in Asia, Europe and North America. Ten major industries have been included in this. The report says India’s rapid adoption of AI is proving its competitiveness globally. 30 percent of Indian companies have maximized the potential value of AI.
Aircraft fleet likely to increase 5 times
India’s aircraft fleet is likely to increase more than fivefold in 20 years. According to the Cirium report, with this increase, the share of Indian airlines in the passenger fleet of the Asia-Pacific region will increase from 8 percent currently to 18 percent in 2043. According to Cerium Fleet Forecast by 2024, India’s passenger aircraft fleet is expected to grow from 720 aircraft by the end of 2023 to more than 3,800 aircraft over the next 20 years.
According to the estimated report, Indian airlines will lead the world in terms of aircraft orders, accounting for the second largest volume of orders in the world after the United States. Indian airlines are expected to order 2,000 aircraft by March 2025, of which 1,620 have already been purchased by Air India, IndiGo and Akasa.
Investment possibilities increase in the marriage market
The marriage market in the country is growing rapidly, so investment possibilities have also started to emerge in this sector. The Indian wedding industry has seen remarkable growth in recent years. It is estimated that by 2025 it could reach 10 trillion rupees. In fact, a lot of money is spent on fashion, jewelry, travel, food and entertainment at Indian weddings. That’s why there is a lot of business here during the wedding season. However, this is a short-term investment, so it is not recommended. But in this short period there is extraordinary demand and the marriage market is booming. Entrepreneurs do not miss this opportunity.
Apple has increased the iPhone production target in India to 32% by fiscal 2027. Apple Inc and its suppliers aim to gather 32 percent of global iPhone production volume and 26 percent of its value in India by 2026 -27. This is one year after the last year of the five-year production-linked incentive (PLI) plan for mobile devices. Its production value could exceed $34 billion in 2023-24.
Japan wants to increase investment in India
Seeing India’s economic progress, Japanese companies are interested in increasing investment here. Mitsubishi UFJ Financial Group Inc. is bullish on India. It wants to increase its presence in the most populated country in the world. MUFG chief Yasushi Itagaki said Japan’s largest lender aims to increase its acquisitions and investments in India. The annual yield of these must be increased by 20% in 10 years. This Japanese company believes that India has the ambition to become a superpower in the manufacturing sector; Considering the population and area, energy demand is likely to increase here. You can move in this direction.
The glory of the Indian gaming market
On the other hand, venture capital firm Lumikai is influenced by the Indian gaming market. The company said the Indian gaming market is expected to reach $9.2 billion by 2028-29. Venture capital firm’s ‘State of India Gaming and Interactive Media Report’ states that India’s gaming market is expected to grow 23 percent to $3.8 billion in fiscal 2024 from $3.1 billion in FY23.
