NEW DELHI, THURSDAY, MAY 15, 2025 FOLLOW US ON TWITTER & FACEBOOK. APP AVAILABLE ON APP STORE & PLAYSTORE VOL. L1 NO. 63, 36 PAGES, `12 (PATNA & RAIPUR `12, SRINAGAR `15) P U B L I S H E D F R O M : A H M E D A B A D , B E N G A L U R U , C H A N D I G A R H , C H E N N A I , H Y D E R A B A D , K O C H I , K O L K ATA , L U C K N O W, M U M B A I , N E W D E L H I , P U N E WWW.FINANCIALEXPRESS.COM READ TO LEAD SENSEX: 81,330.56 ▲ 182.34 NIFTY: 24,666.90 ▲ 88.55 NIKKEI 225: 38,128.13 ▼ 55.13 HANG SENG: 23,640.65 ▲ 532.38 `/$: 85.28 ▲ 0.07 `/€: 95.97 ▼ 1.16 BRENT: $66.25 ▼ $0.38 GOLD: `93,407 ▼ `629 IN THE NEWS BCI allows foreign lawyers to practise THE BAR COUNCIL of India (BCI) has notified amendments to its 2022 rules which would enable foreign law firms and lawyers to practise in India on a reciprocal basis, reports Jyotsna Bhatnagar. ■ PAGE 3 Indian stock mkt best in Asia: BofA INDIA HAS REPLACED Japan as fund managers’ top Asian stock market pick, according to BofA Securities’ latest monthly survey. ■ PAGE 6 Vi to start 5G in all 17 circles by Aug VODAFONE IDEA WILL launch its 5G services in all 17 priority circles by August this year, the telco said on Wednesday, reports fe Bureau. Its commercial 5G services will go live in DelhiNCR on May 15. ■ PAGE 4 FIRMSTO HIRE CANDIDATESTHROUGHTHEYEAR Internship target up nearly 6 times ● Intake this fiscal pegged at 700,000 despite tepid FY25 MANU KAUSHIK New Delhi, May 14 THE GOVERNMENT IS making its best efforts to salvage the PM Internship Scheme (PMIS) which has met with a lukewarm response so far.The ministry of corporate affairs (MCA) has set a target of 700,000 for intern intake by India Inc in the current financial year. This is nearly six times the goal for FY25,when the pilot for the flagship scheme was launched. The ambition has been scaled up even though not even half of the 125,000 internship opportunities envisaged under the scheme for FY25 might actually have been created. To achieve the JOB DETAILS Round 1* Round 2* Number of applications received: 621,000 Internship offers made by companies: 82,077 Candidates accepting offers ✓ 28,141 Internship opportunities offered by companies 118,000 *Pilot project targeted to provide 125,000 internships in FY25 Candidates joining as interns 8,000 target in FY26, the MCA is looking at various proposals, including giving an option to companies to hire candidates throughout the year. Currently, companies can hire interns in phases staggered over a year,and onlywhen the government tells them to. The government’s optimism also stems from a large pool of candidates who have applied for the unique skillling opportunity.Besides,the scheme has been tweaked to allow candidates to opt for companies and units closer to their domiciles. Continued on Page 7 Cabinet clears `3,706-crchip plant ● HCL-Foxconn unit in UP’s Jewar will be India’s sixth FE BUREAU New Delhi, May 14 THE UNION CABINET on Wednesdayapproveda`3,706croresemiconductorplanttobe setupinJewar,UttarPradesh,by a joint venture between HCL Group and Taiwan’s Foxconn. This is the sixth major project CHIPPING IN ■ Uttar Pradesh will bea the third state to have chip plant under the semiconductor mission, after Gujarat (4 units) and Assam (1 unit) ■ The facility is expected to become operational in 2027 & create 2,000 jobs The Jewar facility will manufacture advanced display driver chips used in mobile phones, laptops, automobiles ■ clearedunderthegovernment’s semiconductormission. The upcoming facility will manufacture advanced display driver chips used in mobile phones, laptops, automobiles, and other electronic devices. Announcing the Cabinet deci- sion,electronicsandITminister AshwiniVaishnawsaidtheplant will be equipped to process 20,000 wafers per month and produce 36 million chips monthly.“These chips control the quality and format of the contentdisplayedonscreen.Itis averyadvancedtechnologythat is being set up,” he said. The facility is expected to become operational in 2027 and will generate employment foraround2,000people,hesaid. Continued on Page 7 New Delhi
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