ET CEO poll
- About 75% participants said the economy and earnings are set to recover faster than expected from the pandemic-induced recession.
- Nearly half the CEOs polled believe that economic growth will range 7-10% in FY22
- 18% believe that growth could be higher than 10%
- Demand, which has grown ahead of expectations so far, is likely to maintain the same pace for the rest of FY21.
- 75% of poll participants said the revenue growth of their companies is likely to top 10% in FY22.
- 33% believe it could go as high as 20% plus
- But the poll also revealed some anxieties about demand sustaining in the wake of rising inflation and the impact on interest rates.
- A majority of respondents (54%) also said that the government has not done enough to spur demand.
Apple – Wistron – Bengaluru
- Apple Inc is probing whether its contract manufacturer Wistron violated its supplier guidelines at the latter’s violence-hit iPhone manufacturing facility near Bengaluru.
- Apple’s supplier guidelines mandate third-party staffing agencies to pay workers and provide them other benefits as per rules and on time.
- A global shortage of semiconductors is beginning to impact the manufacturing of vehicles, laptops, mobile phones and televisions and is likely to hit domestic output by 5-30% by the fourth quarter, depending on the companies and product categories.
- The shortage of key components such as chipsets, ICs and displays will continue for the next one-two months with most of the available stocks being allocated by smartphone brands to production for holiday sales in the West.
- The shortage of key components such as chipsets, integrated circuits and displays have become a constraint after Diwali for smartphones, televisions and laptops.
- The shortage of electronic control units (ECUs) for the automotive sector is expected to hit the manufacture of diesel passenger vehicles and commercial vehicles in India.
- Industry executives attribute the shortage to a surge in demand for electronic consumer products, including smartphones, coupled with the 5G rollout in China and the US.
- That’s been exacerbated by supply-chain disruptions due to Covid-19.
- 5G smartphones require 30-40% more chip content compared with 4G devices, according to Taiwan Semiconductor, the world’s largest chip maker.
Google Net Project
- Search engine giant Google is in talks with Reliance Jio and Bharti Airtel to pilot high-speed internet and telecom connectivity using light beams.
- India’s two leading telcos are said to be keen on the next generation technology that could bring connectivity to remote areas and resolve hurdles such as laying optic fibre.
- Alphabet, the parent company of Google, launched project Taara from the stables of its company X, also called the “moonshot factory,” which comes up with solutions for some of the trickiest problems across the world.
- For project Taara, X uses Free Space Optical Communications like light beams to connect far-flung regions.
- The person said the speed is 20 gigabytes a second compared with less than one gigabyte a second that many consumers get now.
- The technology sends light beams – instead of radio waves – between transmitters and receivers attached to servers placed on buildings and structures.
- A cloudy sky or rain can become a hindrance
- It comes as telcos grapple with data loads that have burdened their networks in a pandemic year, when transactions have increasingly gone digital.
- Less than 30% of India is connected by fibre compared with 80% in developed markets.
- Reserve Bank of India has made Real-Time Gross Settlement (RTGS) money transfer facility operational round-the-clock.
- The announcement to this effect was made by RBI Governor Shaktikanta Das.
- RBI Governor said, India has become one of the few countries in the world to operate its RTGS system round the clock throughout the year.
- The move is aimed at giving a push to digital payments in the country.
- Earlier, RTGS transaction facility was available for customers from 7 am to 6 pm on all working days of a week, except the second and fourth Saturdays.
- The RTGS system is meant for high-value transactions, on a real-time basis.
- The minimum amount that can be remitted through RTGS is 2 lakh rupees and there is no maximum limit.
- The beneficiary bank receives instructions to transfer the funds immediately after the transaction is carried out, and the transfer is instantaneous.
- On the other hand, NEFT handles fund transfers up to 2 lakh rupees and such transactions are usually executed in a couple of hours.