India roundup: Foxconn expands Indian investments by capital injection and land acquisition

Jingyue Hsiao, DIGITIMES Asia, Taipei 0

Credit: AFP

Global manufacturers such as Foxconn, Cisco, and Hyundai are expanding their manufacturing capabilities in India. India's local opto-semiconductor maker introduced sapphire substrates to meet local LED demand.

Foxconn expands Indian investments by capital injection and land acquisition

According to Foxconn's filing, its subsidiary Foxconn Hong Hai Technology India Mega Development acquired 300 acres of land in Information Technology Investment Region in Devanhahalli Taluk, Bengaluru, with a price of INR3 billion (US$36.54 million). Besides, another Foxconn filing said that Foxconn invested US$39 million in its Indian subsidiary Foxconn Hong Hai technology India Mega Development through its Singaporean subsidiary Foxconn Singapore.

Cisco to invest US$1 billion to make products in India

According to Cisco's statement, the telecom and networking gear manufacturer will invest US$1 billion in India for domestic and overseas demand, adding that the strategic investments in its Indian manufacturing capabilities aim to deliver cutting-edge technologies to customers in India and across the globe.

Polymatech introduced sapphire substrates

According to ElectroncisB2B, India's opto-semiconductor manufacturer Polymatech introduced sapphire substrate, which includes two, three, and four-inch diameter sapphire wafers, for LED customers in the consumer electronics and general lighting industries. The company said it would supply the substrates to the market later without elaborating on the exact timeline.

Hyundai to invest US$2.45 billion to make EVs and batteries

Reuters reported that Hyundai Motor announced an INR200 billion (US$2.45 billion) investment in Tamil Nadu over the next ten years, planning to ramp up electric and ICE vehicle production, set up a battery manufacturing facility, and install 100 charging stations.

India's tablet shipment declined by 30% in 1Q23

IANS, quoting CMR's data, reported that India's tablet market declined by 30% in the first quarter of 2023. Besides, the 5G tablet share in the market increased to 4% thanks to the annual growth of 36% of the 5G tablet shipments.