Despite setbacks, particularly the breakup with Foxconn, the debt-laden Vedanta Group is still keen on semiconductor and display forays, which was seen as a strategy to deal with the group's financial stress. The prospect of Vedanta's display fab proposal with Innolux remains to be seen.
The Times of India, citing senior officials in the Indian government, said that India is considering launching a new multi-billion-dollar incentive package for semiconductor companies. This move comes as the previous Rs 760 billion plan, introduced in December 2021, is nearing exhaustion.
The Economic Times quoted sources saying that Tata Electronics, which joined the ranks of Apple suppliers in recent years, is now engaged in internally developing very sophisticated and highly precise CNC tools essential for manufacturing these iPhone casings.
Taiwanese semiconductor company MediaTek has said it is bullish on India and expects to grow in R&D and market penetration. Speaking to Digitimes Asia recently, Anku Jain, MD of MediaTek India, mentioned although the pace of growth will depend on various factors, they are committed to growing their presence here.
Sharp is reportedly talking to the Indian government about a plan to set up a 10G display plant in India, which may be the first display fab and is likely eligible for the semiconductor incentive scheme.
Apple is diversifying rather than expanding its supplier base in India, as indicated by its latest supplier list. Despite some concerns from the Indian government, China-based suppliers continue to play a significant role in Apple's India strategy.
India-based EMS player Kaynes Semicon believes its OSAT project is expected to be approved and eyes advanced packaging, including Co-Packaged Optics (CPO), to differentiate itself from competitors in Southeast Asia.
Supreme Electronics, an IC distributor specializing in memory chips, is targeting the Indian and Southeast Asian markets for electric scooter demand opportunities.
India is ramping up efforts to craft dedicated AI regulations or frameworks to address challenges posed by generative AI as it prepares for the AI-driven future.
India introduced a policy to lower the tariffs on imported EVs to attract global EV manufacturers to set up manufacturing facilities in the country. Still, despite a growing presence in the global EV market, China-based EV manufacturers may not benefit from India's latest policy.
Padget Electronics, a subsidiary of India-based Dixon Technologies, signed an agreement with Longcheer, the world's second-largest smartphone ODM based in China, for smartphone manufacturing.
Smartphone sales boomed in India, the world's second-largest smartphone market, during the first quarter of 2024, which is good news for smartphone vendors, especially as global electronics companies work hard to reduce their high inventory levels.
