Young Liu, chairman of Hon Hai Precision Industry (Foxconn), is in India meeting Prime Minister Narendra Modi and Alkesh Kumar Sharma, Secretary of the Ministry of Electronics and Information Technology (MeitY).
Vedanta and Foxconn selected Dholera SIR in the Gujarat state for establishing its wafer fab project, and the weak economy leads to a drag on India's local handset manufactuers' production plans.
As Apple suppliers pick up their pace of investing in India, Apple has become the largest blue-collar job creator in India's electronics manufacturing industry. However, suppliers also witnessed occasional incidents that have led to production disruption.
Witnessing the ongoing tech war between the US and China, a slew of electronics brands have flocked to India to establish production bases, driven by the local government's Make in India (MII) initiative, which was launched in 2014 to encourage investments in the market, according to DIGITIMES Research's new study over India's handset manufacturing industry.
As a leader in India's emerging EV market, Tata Motors is reportedly looking to raise funds for the EV expansion as the carmaker is grappling with debt reduction in the automotive business.
India has risen to be the next global manufacturing hub and holds great market potential. George Chiou, air freight president of international logistics company Dimerco, said those interested in entering the Indian market can start doing business in the free trade warehousing zone (FTWZ) to avoid making heavy investments in the first place.
Stellantis posted record financial results on Wednesday, with battery EV sales jumping 41% and adjusted operating income growing 29% in 2022. CEO Carlos Tavares said a strong order book will carry the company through the first half of this year.
Despite macroeconomic headwinds that face the world, India's tablet market saw huge growth amid speeding roll-out and rising 5G services, with the momentum expected to continue over the next quarters.
PwC India partner Sivam Subramanian said India is thought of as the largest business opportunity of the 21st century, while current prime minister Narendra Modi has resolved to reform and optimize India as a business hub. Tax laws and bureaucracy have also simplified.
India's TWS (True Wireless Stereo) market again saw double-digit growth in 2022, and major brands ramped up local production to drive down the end products' price amid 'Make in India' initiatives.
The Indian EV market is expanding at a rapid pace as more and more car owners embrace technology for convenience and cost-efficiency. The Indian government has ambitious plans to grow EVs significantly by the decade's end. In line with this, major automobile companies are launching several new electric vehicles almost every other month.
Vedanta and Foxconn have chosen Dholera to set up a semiconductor fab and display manufacturing facility, while India's electronics industry is still waiting for the government to unveil the list of approved applicants under India's INR760-billion(US$92 billion) incentive policy.
Uber and India-based Tata Motors announced a Memorandum of Understanding (MoU) on February 20. Tata will supply Uber with 25,000 EVs in India starting in this month, facilitating the ride-hailing service company's effort to electrify its global fleets by 2040.
Following Google's decision to cooperate with India's anti-trust authorities to change its Android policies, Android phones in India may get a new version of Google Mobile Services, just like that in the European Economic Area or Turkey.
