APRIL 20268TOP STORIESIndia is moving fast to secure its future in Rare Earth Permanent Magnets, rolling out a national plan that links mining, processing, research, and advanced manufacturing.With the current drive to self-sufficiency, Odisha has become a center stage state, as well as Kerala, Andhra Pradesh, and Tamil Nadu, as the nation strives to reduce importation of critical minerals.This has been announced by the Union Budget 2026-27, which will be launched in these four states Dedicated Rare Earth Corridors. These corridors will develop a complete ecosystem, which includes mineral mining, beneficiation, research, and high value production. The aim is to position India as a serious contender in the world in the area of sophisticated materials and enhance local supply chains. Kaynes Semicon Private Limited, which is a wholly owned subsidiary of Kaynes Technology India Limited has signed its Fiscal Support Agreement and other transactional documents with the India Semiconductor Mission through the semiconductor policy framework of the Government of India.The relocation is a milestone procedural move to unlock fiscal funding to the scheme principles and is an indication of a continuous movement towards the national mission.Implementation of the agreements allows formal support of the project by the government in terms of fiscal assistance. It is also a pointer of further alignment between the company and authorities as India continues to drive to enhance its local semiconductor ecosystem. The growth is given the fact that the India Semiconductor Mission hastens to establish long term manufacturing capacity in the country. India's electronics manufacturing landscape is undergoing a decisive structural shift, led by Apple's expanding production and export base under the government's smartphone production-linked incentive (PLI) scheme.According to sources, iPhone exports from India have crossed a record $50 billion by December 2025, marking one of the most significant milestones in the country's manufacturing-led export growth story.With three months still remaining in Apple's five-year PLI eligibility window, exports are expected to climb further. Data accessed by the Economic Times shows that iPhone shipments in the first a months of FY26 alone reached nearly $16 billion, pushing cumulative exports beyond the $50-billion mark. In comparison, Samsung exported devices worth close to $17 billion during its entire five-year PLI tenure from FY21 to FY25. On Friday, the Indian government introduced two measures such as including interest subversion and collateral support, with a sum allocation of Rs 7295 crore over a period of six years (FY26-31) to provide small exporters an upper hand in obtaining trade finance.It is also being perceived as a significant effort to boost the Indian export environment, particularly during a period when there is uncertainty in the global trading environment, and financing is also expensive.The interest subvention scheme to be named as Interest Subversion, pre- and post-shipment Export credit will allow micro, small and medium enterprises (MSMEs) to have access to export credit at subsidized rates, which are lower than the market interest rates. The government is trying to reduce liquidity pressures on small exporters by reducing the cost of borrowing, which will enhance their competitiveness in the global markets. ODISHA EMERGES AS HUB FOR RARE EARTH PERMANENT MAGNETSKAYNES SEMICON SIGNS FISCAL SUPPORT DEAL UNDER ISM SCHEMEAPPLE IPHONE EXPORTS FROM INDIA CROSS $50 BILLION UNDER PLIGOVERNMENT LAUNCHES RS 7,295 CRORE SCHEMES TO BOOST MSME FINANCING
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