Ericsson has dragged RCom to bankruptcy court over non-payment of more than 1,000 crore of dues and has admitted its petition last week
India has signed free-trade agreements with ASEAN countries Singapore, Malaysia, Indonesia, the Philippines, Thailand, Myanmar, Laos, Cambodia, Vietnam and Brunei.
Ericsson is driving a hard bargain to recover its RCom dues. But experts said changes in the insolvency law may come to the rescue of the beleaguered telco.
Officials say some countries have already used the flexibility available in the Harmonised System of Nomenclature of goods to raise duties without running afoul of the Information Technology Agreement 1, or ITA1.
The government is drafting the upcoming National Electronics Policy (NEP) with increased focus on exports as it looks to harness the local capacity in electronic goods, including smartphones built for the domestic market, a top official told ET.
Growth rates have been high, if not similar, for others as well. Nakul Kumar, cofounder of Cashify, said sales grew three-fold over last year and expects the upside to continue this year.
The latest local move is likely to help the South Korean giant gain back market share lost recently to Chinese rival Xiaomi, said analysts.
RCom and its subsidiaries filed the pleas in the NCLAT asking it to set aside the NCLT’s order on the grounds that Ericsson was an operational creditor.
The phones also come with Samsung Mall app which uses AI to help users shop.
The DoT on May 17 has sought multiple clarification within a week from Airtel about eSIM service facilitation by the company on Apple Watch 3.
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