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Mumbai: The drafting of the rules for the Digital Personal Data Protection (DPDP) Act is "in very advanced stages," and the government will start consultations with the industry on the subject very soon, electronics and information technology (MeitY) minister Ashwini Vaishnaw said."We will be as extensive as we can. We will not rush through and prefer a consultative process. In parallel, we are working on creating a digital by-design platform, so that the implementation can be done in a digital form," Vaishnaw said.ET reported on June 12 that the IT ministry aims to release the proposed administrative rules under the DPDP Act for public consultation before the start of the upcoming Parliament session in July to give ample time for stakeholders to deliberate on the finer nuances of the rules."We will make lots of changes based on what the industry, stakeholders, and so many other organisations, including lawyers, user groups and consultants. We will take all their views into consideration," he said.A senior government official said the platform to be used for the implementation of the DPDP Act and its administrative rules will be designed and implemented in-house, either by the National Informatics Centre or the Digital India Corporation. Over the last four months, the government has received queries from significantly large electronics component manufacturers who met officials from MeitY and sought to know the process of setting up a plant in India, among other things, he said."We have been directing them primarily to the OEM (original equipment manufacturers) so that the component manufacturers and they (OEM) have synergy. That is working well," Vaishnaw said, adding that the component ecosystem will also increase the local value-addition plans of the government.India is moving towards building a complete ecosystem of component makers along with finished product manufacturers in the next 3-4 years, another official said.Memory chips, which are an essential component of electronic products, will also get a good boost once the Micron plant being built at Sanand in Gujarat is commissioned, the official said.

JERUSALEM: Israel's military said Saturday that eight soldiers were killed in southern Gaza in the deadliest attack on Israeli forces in months.The troops were killed in an explosion, the army said, without elaborating. The deaths will likely fuel calls for a cease-fire and heighten Israeli public anger over ultra-Orthodox exemptions from the military.In January, 21 Israeli troops were killed in a single attack by Palestinian militants in Gaza.Last month, Israel’s Supreme Court ordered an end to government subsidies for many ultra-Orthodox men who don’t serve in the army. A new draft law hasn't been passed, but the coalition of Prime Minister Benjamin Netanyahu this week voted in favor of extending exemptions for religious men. Although the vote was only procedural, it caused an uproar by being approved during a war in which hundreds of soldiers have died and many others remain inside Gaza or on the front lines against Hezbollah militants in Lebanon.Israel's coalition government contains a powerful bloc of ultra-Orthodox parties that have been longtime partners of Netanyahu.Israel’s bombardment and ground offensives in Gaza have killed more than 37,000 Palestinians, according to Palestinian health officials, who don’t give the breakdown of civilians and fighters. The war has also driven about 80% of the population of 2.3 million from their homes, and Israeli restrictions and ongoing fighting have hindered efforts to bring in humanitarian aid, fueling widespread hunger.Israel launched its campaign after Hamas and other militants stormed into Israel on Oct. 7, killing some 1,200 people, mostly civilians, and taking around 250 hostage. Over 100 hostages were released during a weeklong cease-fire last year in exchange for Palestinians imprisoned by Israel. Hamas is believed to be holding around 80 hostages and the remains of another 40.Months of cease-fire negotiations have failed to find common ground between Israeli and Hamas. On Wednesday, U.S. Secretary of State Antony Blinken said that Hamas proposed changes to a U.S.-backed plan, some of which he said were “workable” and some not.Hamas has continually called for a permanent cease-fire and complete Israeli troop withdrawal from Gaza as part of any deal that would see the hostages released. While the proposal announced by U.S. President Joe Biden includes these two provisions, Hamas has expressed concern about whether Israel will commit to them.

India's electronic manufacturing is likely to double in the next five years, according to sources in the Ministry of Electronics and Information TechnologyThe country's electronic manufacturing is likely to reach around USD 250 billion in the next 5 years, said a source in the ministry.The current electronic exports of the country stand at USD 125-130 billion.The govt is also aiming to address the issue of unemployment by creating Jobs in the electronic manufacturing sector. Currently, 25 lakh people are employed in electronic manufacturing.In the next five years the Govt targets to double the jobs in the electronic manufacturing sector from 25 lakhs to around 50 lakh jobs."Our focus remains the same on providing services to digital technology, our focus remains on getting large-scale electronics manufacturing. Those focus remain exactly and those target goals will only get accelerated" said Ashwini Vaishnaw Minister for Electronics and Information Technology.The sources highlight that India in certain segments for example in mobile is already at the stage where it is transitioning from import substitution and becoming Aatmanirbhar and becoming an export-led manufacturer. In the case of laptops, India is in the phase of becoming Aatmanirbhar.The Indian government, through various incentive schemes, has also provided an outlay of Rs 760 billion for electronic manufacturing in India. India's per capita electronic consumption is one-fourth of global consumption.In terms of imports, China and Hong Kong account for a significant portion, representing 44 per cent and 16 per cent respectively, of India's total electronic imports.Conversely, mobile phones and Electronic Control Units (ECUs) dominate India's electronic exports, with the United States and the UAE emerging as the largest export destinations, collectively absorbing a substantial share of India's electronic products.According to the experts, India's electronic manufacturing sector is going through a transition, and the nation's position as a global electronics manufacturing hub is poised to strengthen, driving economic development, job creation, and technological innovation across the country.In order to position India as a global hub for electronic manufacturing, the government has announced various schemes including the Production Linked Incentive Scheme (PLI) for Large Scale Electronics Manufacturing, Production Linked Incentive Scheme (PLI) for IT Hardware, Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS) and Modified Electronics Manufacturing Clusters Scheme (EMC 2.0)Additionally, the government also introduced the Semicon India Program with an incentive outlay of USD 10 Bn with the vision to develop a sustainable semiconductor and display ecosystem in the country. This program will establish India as a global hub for semiconductor and display manufacturing. (ANI)

Modern warfare is no longer a solely physical domain, but a dynamic and ever-evolving landscape increasingly influenced by complex data networks and advanced cyber technologies, IAF Chief Air Chief Marshal VR Chaudhari said on Saturday. Addressing the Combined Graduation Parade (CGP) of the 213 Officers' Course at the Air Force Academy (AFA) at Dundigal near here, Chaudhari also said tomorrow's conflicts cannot be fought with yesterday's mindset. "Modern warfare is a dynamic and ever evolving landscape. It is no longer solely a physical domain. It is increasingly influenced by complex data networks and advanced cyber technologies. As leaders, you all need to adapt, innovate and leverage technology effectively for proving decisive in winning wars," the Air Chief Marshal said. He further said professionalism, aggressiveness and initiative are the three most admired qualities of a leader and at the same time, leaders who are thinkers are also needed. 110879863"As you embark on this extraordinary journey, let the core values of the Indian Air Force - mission, integrity and excellence be your guiding beacon," he advised the newly commissioned officers. "For us, the men and women in uniform, mission accomplishment is of utmost importance. It is vital for maintaining the direction, efficiency and overall success of an organisation," he said. He also suggested that they must cultivate the habit of reading and that it would bear rich dividends. "The more you read, the better you will understand the complexities of your field. A well read mind is capable of adapting and leading with clarity in the face of the unknown," he said. While gaining professional knowledge is paramount, the newly commissioned officers should hone their skills in other areas as well, he said. 110818312On integrity, he brought out how making ethical choices, upholding the highest standards of conduct and leading by example will inspire trust and loyalty with the team members. Speaking on the IAF's vision statement of 'People First, Mission Always', Chaudhari urged newly commissioned officers to earn the respect of their subordinates and peers through professional competence, physical and moral courage, character and empathy. The CGP marks the successful culmination of training of 235 flight cadets of flying and ground duty branches of the Indian Air Force. Chaudhari, who was the Reviewing Officer, conferred the Presidents' Commission to the graduating flight cadets on successful completion of their training. The graduating officers included 22 women officers who got commissioned in various branches of the IAF, a defence release said. 110823312On the occasion, nine officers from the Indian Navy, nine officers from the Indian Coast Guard, and one officer from the friendly foreign countries were also awarded 'Wings' on successful completion of flying training. This is also the first CGP where 25 cadets who joined the National Defence Academy four years ago for Ground Duty branches, were commissioned as officers, it said. The Reviewing Officer gave away various awards to the graduating officers who excelled in various disciplines of training. Flying Officer Happy Singh from the flying branch was awarded the President's Plaque and the Chief of the Air Staff Sword of Honour for standing first in the overall order of merit in the pilots' course, the release said. Flying Officer Taufeeq Raza was awarded the President's Plaque for being first in the overall order of merit in the ground duty officers course, it added.

Nifty ended the week with a closing near its upward-moving channel. The index closed at 23,465, after making a new all-time high on Friday. On the other hand, Bank Nifty is still somewhere in the middle of its upward channel, giving a close at 50,002.The post-election rally has taken everyone by surprise and both indices now are currently sustaining well above their short-term moving averages after testing their 200 day moving averages.As the markets move towards making new highs frequently, ET Markets interacted with analyst Sudeep Shah, Deputy Vice President and Head of Technical & Derivatives Research, SBI Securities regarding the outlook on Nifty and Bank Nifty along with an index strategy for the upcoming week. Following are the edited excerpts from his chat:The markets are making new highs almost each day now. Do you think the indices are headed towards a swift northward movement, or will it become steady in the near future?Markets experienced an extremely swift recovery last week from the lows of 21,281 made on the day of Election verdict with more than 2,000 points rebound in a very short span of time. While the overall undertone is extremely bullish, we anticipate that the markets may enter a period of time-wise correction and witness buying on dips, with the upcoming union budget serving as the next major catalyst. Meanwhile, fund flows have shifted in favor of mid and small-cap stocks, driven by positive domestic cues.In this week so far, the FIIs have remained net short on the index futures. However, the short positions are declining. How do you interpret this ?The election verdict leading to the NDA government's return to power for a third consecutive term has propelled the Indian markets to new all-time highs. Foreign Institutional Investors (FII), who were 87% net short in Index futures at the start of the series, have gradually reduced their short positions to 52% as of June 14th. However, there has been no significant change in flows within the cash market. Since the beginning of 2024, FIIs have sold approximately Rs 1,38,221 crore, indicating that they have not yet made a substantial comeback in the market till now.What does the current DII standing indicate? Previously, when FIIs were net short, DIIs were net long. But this week’s DII data indicates mixed sentiments. What does this mean?Domestic Institutional Investors (DIIs) have maintained a bullish outlook on the markets, as evidenced by their positions in the cash segment. Except for June 4th, when they sold approximately Rs 3,318 crore due to political uncertainty, DIIs have not engaged in significant selling. They have emerged as strong performers during the current bull run. They have been buyers to the tune of Rs 2,20,225 crore since the beginning of the year from January 2024, completely absorbing the FII selling in cash. We do not anticipate any major shift in stance from DIIs at this point.As per the technical placement, Nifty seems to be near the resistance of the upward channel and also quite above its moving averages. Do you think now is the time when the price might retrace from the resistance to test the averages?The Nifty index appears to be experiencing a period of consolidation following a highly volatile election week. Over the past week, Nifty has fluctuated within a narrow 274-point range, the tightest weekly range observed in the last eight weeks. Despite this limited movement, Nifty managed to close the week at a record high, gaining nearly 1%. From a technical perspective, the index's position at all-time highs, coupled with bullish signals from moving averages and momentum indicators, suggests a continuation of the upward trend.Going ahead, we believe the index may continue to consolidate in the range of 23,500-23,200 zones. The penetration with strength on either side would open gates for a trending move. Till it happens, we recommend concentrating on the broader market as the real action is seen in these stocks, and momentum is likely to continue.In case Nifty sustains above the level of 23,500, then we may witness the next round of buying interest. In that case, it is likely to test the level of 23,750, followed by a psychological level of 24,000 mark. While on the downside, the zone of 23,240-23,200 is likely to act as a crucial support for the index. Any sustainable move below the level of 23,200 will lead to profit booking in index up to the level of 23,000, followed by 22,800 in the short term.If the above case is true, how can one hedge against the risk of fall in prices?A correction of sizable nature will be seen only once the Index witnesses a breakdown below the mark of 23,200. In that case, traders can consider hedging their portfolios by purchasing ATM 23,200 PE or slightly OTM strike of 23,000.Does the PCR data currently indicate any positions in Nifty?The Nifty's weekly Put-Call Ratio (PCR) currently stands at 1.31, while the monthly PCR is at 1.16. This indicates that option writers expect the markets to consolidate with a positive bias in the coming week. The PCR is also used as a contra-indicaor and is a useful derivative tool, especially when there is extreme call or put writing in the system—specifically, when the PCR approaches 1.5 on the upside or 0.4 on the downside. These extreme levels generally don't sustain for longer enabling a trader to take a contra view closer to an important support or resistance that can act as a reversal point.What does the Bank Nifty’s OI data indicate for the upcoming week?Bank Nifty has relatively underperformed this week, with some major PSU banking stocks still recovering from the selling pressure experienced on June 4. The highest call writing is observed at 50,000 CE and 50,500 CE. A close above 50,300 could trigger short covering in the weekly expiry, potentially pushing the index towards the 50,750-50,900 zone. On the downside, support is identified in the 49,500-49,700 range.Do you have any strategies or levels to play on Bank Nifty in the coming week?We believe that frontline private banks could make a comeback and witness traction in the following week. HDFC bank, which has the highest weightage, is on the verge of a breakout, which could propel the index higher. Traders can consider doing a bull spread strategy in Bank Nifty 19th June Expiry with purchasing a 50,100 Call and selling 50,500 Call.Any stock recommendation that you might have for the upcoming week?We are bullish on Indian Hotels. The stock has given consolidation breakout on a daily scale backed by robust volume. In addition, it has formed a sizable bullish candle on the breakout bar, which adds strength to the breakout. Currently, the stock is trading above its short and long-term moving averages. These averages are in rising trajectory, and they are in the desired sequence, which suggests the trend is strong. The daily RSI has surged above 60 levels for the first time after 42 trading sessions.The derivative data also supports the overall bullish chart structure.With the technical and derivative factors aligning in favor of bulls, we recommend accumulating the stock in the zone of Rs 615-610 with the stop loss of 590. On the upside, it is likely to test the level of Rs 650, followed by 680 in the short term.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)