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Smartphone makers such as Xiaomi, Vivo and OnePlus plan to absorb the exchange rate impact as of now, with the industry fearing a slide in sales since prices are all set to go up due to increase in goods and services tax on smartphones to 18% from 12%. But they will factor the exchange rate in the pricing of future launches, the executives said.

Vivek Sharma, MD at Panasonic Life Solutions India, said these stores will serve as experience centres for consumers and influencers, He said the stores will target customers as well as builders, contractors and architects. The company has opened the first such outlet in Hyderabad will be setting up these stores in a franchise owned and operated model.

"Two long-term policy decisions have been taken to make India hub of electronics manufacturing in new directions and medical electronics. Cabinet has approved production linked-incentive for electronics companies. We will give Rs 40,995 crore in the coming five years for production linked-incentive," Union Communications Minister Ravi Shankar Prasad said.

On the impact of the outbreak, the company said: "COVID-19 has affected the supply of some components to our manufacturing facilities and volume of business in 'Servicetec' segment. This is likely to impact our planned production and volume of business in excess of 10 per cent for the month of March."

LG Electronics India will donate products like water purifiers, air conditioners, refrigerators and TVs to the hospitals. Samsung India, on the other hand, will provide preventive kits to hospitals, which includes a surgeon gown, face mask, gloves, preventive eye wear, hood cap and shoe cover.

For domestic mobile phone companies, the investment threshold is Rs. 200 crore over four years and sales criteria is Rs. 5000 crore in five years and for components it is Rs. 100 crore for 4 years and Rs. 600 crore of sales in 5 years.

Having suffered an unprecedented sales decline of 6-7 per cent in 2019-20, the industry will be up against challenges in both supply and demand sides due to the coronavirus pandemic, Panasonic India and South Asia President and CEO Manish Sharma said.

India’s manufacturing industry does rely heavily on imported components, including semiconductors, smartphone screens, LED screens, sensors and so on.

​​Even after the curbs are lifted, social distancing norms and an overall fear of the pandemic may keep people away from the stores for some time.

The company plans to make investments of around Rs 210 crore on infrastructure development of the facility over the next four years. This new manufacturing facility will cater to the domestic and international business for Compaq televisions, for which it holds licence for multiple countries and regions.

Both LG and Samsung have opened bookings for various products on their websites for limited periods and are offering gifts of up to Rs 10,000 on pre-bookings made during the lockdown period. LG has opened pre-bookings till May 15 and Samsung by May 8.

After 40 days of lockdown, certain business activities like opening of standalone stores and e-commerce delivery of non-essential items have been allowed in green and orange zones (locations with few or no COVID-19 cases).

Industry has also pitched for SPV with initial funding from govt, to help refinance small and mid-sized NBFCs

Affirms Issuer Default Ratings for seven banks including these four and Bank of India, Canara and PNB

With malls and shops closed, spending avenues are practically non-existent.

Capital infusion to be supported by IDFC limited, ICICI Prudential Life, HDFC Life, Warburg Pincus and Bajaj Allianz

The meeting will take stock of implementation of several steps announced by the RBI, including moderation in interest rate and its transmission, as well as liquidity infusion measures for industry

Fitch has cut its forecast for India's GDP growth in the financial year ending March 2021 (FY21) to 0.8 per cent from a pre-pandemic forecast of 5.1 per cent

Dhawan will assume charge from Saturday in place of Ashish Agarwal, the current chief risk officer, who will be transitioning to a new role in the bank

The meetings were also attended by deputy governors and other senior officers of the central bank, RBI said in a statement on its website

Depositors to get up to Rs 5 lakh under deposit insurance on liquidation