Press pass story

Apple Partners with Five Anchor Vendors as India Approves ₹41,863 Crore ECMS Projects Apple has emerged as a key driver of India’s electronics manufacturing expansion , partnering with five major companies as anchor vendors under the government’s Electronics Components Manufacturing Scheme (ECMS) . The move follows the approval of ₹41,863 crore in investments by the Ministry of Electronics and Information Technology (MeitY) for 22 companies under the scheme’s third tranche, according to a report by Business Standard . Anchor Vendors Lead Majority of ECMS Investment The five Apple-linked anchor vendors will collectively invest around ₹30,537 crore , accounting for nearly 73% of the total approved investment . The group includes a combination of large Indian conglomerates and global suppliers , strengthening India’s efforts to build a robust domestic electronics components ecosystem. The ECMS provides production-linked incentives (PLI) to promote local manufacturing of electronic co...

 India’s manufacturing sector recorded its slowest growth in two years in December , as softer domestic and export demand weighed on new orders and production, according to a monthly survey released on Friday. India’s Manufacturing Activity Slows to Two-Year Low in December as Demand Momentum Eases: PMI The HSBC India Manufacturing Purchasing Managers’ Index (PMI) declined to 55.0 in December , down from 56.6 in November , marking the lowest reading since December 2023 , data compiled by S&P Global showed. Despite the slowdown, the index remained above the 50-point threshold , which separates expansion from contraction, indicating that manufacturing activity continued to grow, albeit at a more moderate pace. Slower Growth in Orders and Output Manufacturers reported continued expansion in new orders and output , but at reduced rates. Firms cited competitive pressures and weaker sales across certain product categories as key factors behind the deceleration. “Even with gro...

  Tesla has lost its position as the world’s largest electric vehicle (EV) seller to China’s BYD , marking a significant shift in the global EV market in 2025. The development reflects changing market dynamics, rising competition, and a challenging year for the US-based automaker. Tesla Loses Top Global EV Seller Position to China’s BYD in 2025 BYD Overtakes Tesla in Global EV Sales According to company disclosures, Tesla sold approximately 1.64 million vehicles in 2025 , representing a 9% decline year-on-year . In comparison, BYD delivered around 2.26 million electric vehicles , securing the top spot globally. Tesla, founded in 2003, had long dominated the EV sector, outperforming traditional automakers and setting benchmarks in electric mobility. However, the global EV landscape has become increasingly competitive, with Chinese manufacturers expanding rapidly , particularly in Asia and Europe. Market Pressure and Sales Performance Tesla’s fourth-quarter deliveries stood at 4...

Former Jet Airways CEO Sanjiv Kapoor has raised questions about the growing trend of 10-minute grocery and food deliveries , directly addressing Zomato CEO Deepinder Goyal on the subject. Kapoor’s remarks came after Goyal highlighted record-breaking order volumes for Zomato and Blinkit on New Year’s Eve , despite reported calls for a nationwide strike by sections of gig workers. Ex-Jet Airways CEO Sanjiv Kapoor Questions the Need for 10-Minute Deliveries at Zomato and Blinkit Zomato and Blinkit Record Highest-Ever Single-Day Orders In a post shared on X (formerly Twitter) on January 1 , Deepinder Goyal stated that both Zomato and its quick-commerce platform Blinkit achieved their highest single-day delivery volumes on December 31. According to Goyal, operations remained largely uninterrupted, allowing the platforms to serve millions of customers during one of the busiest days of the year. Goyal noted that over 4.5 lakh delivery partners completed more than 75 lakh orders for a...