India Aims to Boost IT Hardware Production with Subsidies
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 21 November 2023
⏱️ 7 minutes
🧾️ Download transcript
Summary
Episode transcripts seekingalpha.com/wsb.
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Transcript
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| 0:00.0 | Welcome to See King Alpha's Wall Street breakfast, where we cover the top news for investors every morning. |
| 0:08.0 | Good morning. Today is Tuesday, November 21st. I'm Julie Morgan. |
| 0:13.0 | Major companies are getting subsidies from India to make IT hardware there. |
| 0:18.0 | The SEC charges Krakan in Texas is suing Pfizer. |
| 0:22.0 | India will provide subsidies to nearly 30 tech companies |
| 0:26.5 | including Dell, HP, Lenovo, FoxCon, Aces and Aeser. This is happening under a production linked incentive scheme for IT |
| 0:36.0 | hardware aimed at boosting domestic manufacturing. According to a government statement, the 27 companies are expected to invest |
| 0:44.0 | 359.9 million dollars with the value of IT hardware |
| 0:48.4 | production estimated at 42 billion dollars. |
| 0:51.6 | India's minister for electronics and IT |
| 0:54.5 | said 23 companies are ready to start manufacturing |
| 0:58.0 | from day zero. |
| 0:59.2 | The move is part of Prime Minister Modi's |
| 1:01.5 | pushed to make India a global high-tech manufacturing hub. |
| 1:05.6 | The PLI scheme covers laptops, tablets, all-in-one PCs, servers, and ultra-small form-factor |
| 1:12.4 | devices. |
| 1:13.0 | These subsidies come at a time of heightened scrutiny of Chinese companies in India |
| 1:18.0 | on account of geopolitical tensions between the two countries. |
| 1:22.0 | The U.S. Securities and Exchange Commission on Monday charged cryptocurrency exchange |
| 1:27.8 | Krakhan for allegedly co-mingling customer money with its own while operating as an unregistered securities exchange, broker, |
| 1:36.0 | dealer, and clearing agency. |
| 1:38.4 | The regulator's complaint accused San Francisco-based Krakon of making hundreds of millions of dollars unlawfully |
... |
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