17110481406_20741b4d20_b

Samsung Makes In India

8.64 million metric tonnes

What is it? The quantity of coal imported by Indian power plants in two months ending May 2018.

Why is it important? This is down from 10.13 million during the year ago period, an indication that there could be a decline in power generation. The lower imports is thanks to higher coal prices (up 25% from year ago) and a weaker rupee.

Tell me more: Power plants designed to use imported coal have been running on lower capacity. Power plants in general are facing a shortage in coal supply, with coal stock of 15.3 MT in June, against the usual 35.5 MT.

120 million

What is it? The number of mobile phones Samsung can manufacture at its Noida factory after expansion.

Why is it important?This would make it the largest mobile manufacturing factory in the world, according to the South Korean mobile maker. It would invest  $716.57 million over the next three years to expand its plant capacity. It is expected to add 1000 jobs, and would help the government’s Make in India campaign.  The plant was inaugurated by Prime Minister Narendra Modi and South Korean President Moon Jae-In on Monday.

Tell me more:Last week, Samsung said its earnings in the second quarter grew at the slowest pace in more than a year. Analysts attributed it to the slump in sales of its smartphones.

6
 

What is it? The number of educational institutions that have been granted ‘eminent’ status by the government of India, enabling them to get Rs 1000 crore of government funding over the next five years. 
 
Why is it important?  The Human Resource Development ministry faced criticism for including Reliance Foundation’s Jio Institute, which is yet to be set up, in the list. The other five are well established. HRD ministry later said it was included under the under Greenfield category for new or proposed institutions. 

Tell me more:The other five educational institutions are: Indian Institute of Science, Bengaluru, the Indian Institutes of Technology at Mumbai and Delhi, Manipal Academy of Higher Education and BITS, Pilani.
 
 
8549

What is it? The number of products for which China has agreed to cut import tariffs, in an agreement with India. India, in turn, has agreed to cut tariffs for 3142 products.

Why is it important? The Indo-China agreement comes at a time when China is fighting a trade war with US, raising concerns about globalisation, and economic growth. From cars to whiskey, a range of products are likely to feel the impact.

Tell me more:In China, the reduction in tariffs for Indian medicines, especially anti-cancer drugs, which costs a tenth of its alternatives, has caught attention. A recent Chinese film on cancer, Dying to Survive, highlighted the high costs and the need for Indian drugs.

52 crore

What is it? Tax amount charged on Indian Institute of Management for the years 2009-10 to 2014-15, on the fees it collected for four postgraduate programmes.

Why is it important?The premier B-school has appealed to Human Resources Development ministry for help. It’s likely to emerge as yet another high profile tax disputes. The government has often been accused of ‘tax terrorism’ arising from “high unrealistic target setting, leading to high-pitched assessments, and the long time taken to settle appeals.”

Tell me more:Revenue department has slapped charges considering the institute to be a ‘commercial coaching centre.’ The dispute has been going on for some years, with IIM-A arguing that it is liable to pay service taxes for its consulting revenues, and not for educational programmes such as PGP.

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Adhar_DSCN4539

Don’t Like Aadhaar? Don’t Say it.

 

Rs 15,935 crore

What is it? The total cost of proposals cleared by India’s Defence Acquisition Council to purchase assault rifles, sniper rifles, carbines and light machine guns on Tuesday.

Why is it important? This brings an end to a 11-year-wait by the armed forces, which had flagged the need for new guns. Indian soldiers have been using AK-47 and indigenous Indian Small Arms Systems rifles since 1988, and there has been an urgent need for arms upgradation, especially in border areas and for counter-insurgency operations. Having rejected a few indigenous weapons recently, India needs an overhaul of its defence planning and procurement system, with due consideration to local requirements and strategic interests.

Tell me more: The approvals include procurement of light machine guns through the fast-track procedure at an estimated cost of Rs 1,819 crore, while 740,000 assault rifles will be ‘Made in India’ under the categorisation of ‘Buy and Make (Indian)’ at an estimated cost of Rs 12,280 crore. Over 5,700 sniper rifles will be procured at a cost of Rs 982 crore.

 

8

What is it? The number of researchers, activists and journalists that news agency Reuters has interviewed who have complained of being harassed by government agencies or being slapped with criminal cases because of their critique of Aadhaar.

Why is it important? This raises questions about the right to dissent and free speech with respect to Aadhaar, the country’s national identity project that has seen various instances of data and security breach. Recently, the Unique Identification Authority of India filed a criminal case against Tribune newspaper for publishing an article that claimed that the details of the database were up for grabs for just Rs 500.

Tell me more: As of last year, over 1.11 billion Indians had an Aadhaar number, which covered 99% of the Indian adult population.

 

24.7%

What is it? Samsung’s market share in India’s smartphone market in 2017, according to International Data Corporation (IDC).

Why is it important? Samsung maintained its market leadership position when the entire year is taken into account. However, Samsung slipped to the second position in the last quarter of 2017, overtaken by China’s Xiaomi, which had a share of 26.8% compared to the former’s 24.2%. This report echoes the findings of other research firms such as Canalys and Counterpoint Research that said Xiaomi had ended Samsung’s dominance in the fourth quarter of 2017 to command the highest market share for the first time ever.

Tell me more: In the feature phone segment, Samsung had the highest market share of 20.5% in 2017, whereas in the last quarter of 2017, Reliance Jio pushed ahead of it to gain a share of 24.1% compared to the former’s 14.5%, according to IDC.

 

15 days

What is it? The number of additional days that Fortis Healthcare has sought to file its financial results for the second quarter and third quarter of 2017-18.

Why is it important? Yet another delay on this front turns the spotlight on financial dealings of the company with its promoters, Malvinder Singh and Shivinder Singh, who last week resigned from the board. Bloomberg last week also reported that Fortis could not declare its Q2 results within the stipulated 45-day period as its auditor refused to sign off on the results until about Rs 500 crore the promoters took out from the company without board approval was accounted for or returned.

Tell me more: In another filing with stock exchanges, Fortis said that credit rating agency ICRA had downgraded the rating of the company and four Fortis subsidiaries.

 

4-1

What is it? The results count in the ongoing one-day international bilateral series between India and South Africa.

Why is it important? Yesterday, in the fifth of the six-match series at Port Elizabeth, India beat South Africa to win the series—its first in South Africa in five attempts, dating back to 1992-93. Before this, South Africa had only lost two ODI series of five matches or more at home, both to Australia. With this series win and the manner of it, India has conquered another overseas bastion and also bolstered its credentials in the one-day sphere, be it at home or away.

Tell me more: India won yesterday’s match by 73 runs, anchored by a century by Rohit Sharma and six wickets by wristspinners Kuldeep Yadav and Yuzvendra Chahal.

 

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Maruti takes a hit

Rs 1,556 crore

What is it? Maruti Suzuki’s net profit in the April-June quarter, a 4.4% increase from a year-ago period.

Why is it important? The net profit has lagged estimates – a Bloomberg poll of analysts had estimated a net profit of Rs 1,692.3 crore. Maruti, which has more than 50% market share, said the company’s performance was impacted by a one-time compensation to dealers due to the switch to the goods and services tax, higher raw material prices, sales promotion and marketing expenses.

Tell me more: Maruti’s revenue from operations increased by 16.4% to Rs 19,777 crore from a year ago. It sold 3.94 lakh units in the latest quarter, up 13.2% from the same period a year ago.

 

 

24.1%

What is it? Samsung’s market share in India’s smartphone market in the April-June quarter this year.

Why is it important? With this, Samsung continues to be the leader in the smartphone segment in the country followed by Chinese brands such as Xiaomi and Vivo, which have more than doubled their market share from a year ago. However, Xiaomi overtook Samsung in the category of smartphones selling under Rs 10,000 in the second quarter with its phones Redmi Note 4 and Redmi 4. This is the first time any brand has been able to overtake Samsung, which has held the best-seller slot for its models for the last four years or so.

Tell me more: Chinese smartphone brands account for more than half of the shipments and this is the second straight quarter when their market share exceeds 50% after they took over local brands in the second half of 2016.

 

 

6

What is it? The number of years after which banks in India can appoint the same audit firm, as per a notification by the Reserve Bank of India (RBI) on Thursday.

Why is it important? This has been increased from two years. Earlier, upon completion of its four year term with a bank, an audit firm, could be reappointed after a gap of two years. The central bank observed that in some cases, the statutory central audit responsibility was handled by two audit firms, who were appointed alternately. This policy change is aimed at deterring the auditors and the auditee from establishing a comfortable relationship that might hinder strict adherence to audit principles and also, to enable the examination of issues in a bank from a different perspective.

Tell me more: The change in rule comes at a time when there has been a great divergence between the bad loans reported by some banks for 2015-16 and the RBI’s findings.

 

 

0

What is it? The number of top-100 Joint Entrance Examination (JEE) rankers who opted for three IITs — Kharagpur, Kanpur and Madras.

Why is it important? While 65 of them opted for IIT Bombay, 31 of the rankers chose IIT Delhi. However, this year, the remaining four rankers did not opt for the other IITs. While the IIT Kharagpur had stopped attracting the top-100 rankers for some years, some of them had still chosen Kanpur and Madras (Chennai) till 2016. But in 2017, these three top seats of learning seem to have fallen out of favour.

Tell me more: The three institutes have got around 50 students from the top 500 rankers this year.

 

 

Rs 1,250

What is it? The average wholesale price of a quintal of onions in Maharashtra on Thursday.

Why is it important? It is a rise of 118% since July, 13. A wait for kharif crops in October, Gujarat’s floods and hoarding by farmers of crops from March and April have led to the hike.

Tell me more: The central government might reinstate a minimum export price which had been withdrawn in the last 19 months. The country is already reeling under the rise in prices of tomato, another kitchen staple.

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The year in technology: Apple stagnates, Samsung slips, Google reboots

This piece originally appeared on Livemint.com

 

With Donald Trump’s US election sweep, the Panama leaks, the war at Tata group and the Brexit shock, 2016 has been one rollercoaster ride, topped off with a currency demonetisation that left the country staggering.

Starting today, through the coming fortnight, we tell you the tale of these and various other issues, industries and individuals through graphics.

 

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tech2

tech3

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