Foxconn (Hong Hai) revealed that its Indian subsidiary will procure equipment from Apple's subsidiary, signaling an expansion of Apple product production in India, which is rapidly emerging as a key manufacturing hub for the company
Chinese electric vehicle (EV) manufacturer BYD is considering establishing an electric car manufacturing unit near Hyderabad, which would make Telangana the first Indian state to host a BYD factory. The company has engaged in extensive discussions with the state government and is assessing three proposed locations before finalizing a site and signing an agreement, reports ETV Bharat, Business Standard, and the Times of India
India sees major tech and industry shifts: Intel's OSAT speculation grows, Asus recovers US$161.9M, Netrasemi preps AI SoCs, Samsung faces US$601M tax demand, smartphone and renewable energy sectors surge, and OpenAI, Meta eye Reliance partnership
Infineon Technologies revealed a plan to set up a Global Capability Centre (GCC) in Gujarat International Finance Tec-City (GIFT City), Ahmedabad, marking the company's first such facility in the state and its second in India
Indian semiconductor startup Netrasemi is set to launch its first AI-optimized system-on-chips (SoCs) for edge computing applications, with tape-outs scheduled at TSMC in April and June
Reuters, citing a government order, reported that India required Samsung and seven of its executives to pay US$601 million in back taxes and penalties for allegedly evading tariffs on imported telecom equipment. The demand includes US$520 million in unpaid taxes and a 100% penalty, along with US$81 million in fines for the executives
Asus recently announced the recognition of a NT$5.35 billion (approx. US$161.9 million) bad debt for the fourth quarter of 2024, stemming from delayed payments by an Indian client. The company has reportedly recovered this payment, allowing them to reverse the bad debt, which could positively impact their profits for the full year of 2025
Tesla is reportedly talking to local suppliers, including those from Tata, amid its supply chain diversification away from China and Taiwan. This move aligns with its goal to sell cars in India, where incentives are available for EV manufacturers that produce locally
India's smartphone manufacturing rose in 2024, driven by Apple and Samsung exports, with Foxconn, Tata, and Dixon Technologies significantly increasing production
India's renewable energy sector is witnessing an unprecedented surge, with major corporations ramping up investments as demand for clean power grows substantially year-on-year, according to Powercon, which counts major corporations like Tata Power, Adani, and NTPC among its customers
HCL-Foxconn's OSAT venture reportedly seeks EPC partners L&T and CTCI, aiming for quick Cabinet approval, following a Foxconn senior executive's visit to India
India's growing electronics and AI sectors are attracting major global investments. Telangana state's Taiwan Industrial zone and "Formosa Town" aims to draw Taiwanese firms under the "China+1" strategy, while Foxconn will start AirPods production in April 2025. Meanwhile, NTT plans a US$1.5 billion investment in data centers, highlighting India's rising role in global supply chains
Intel's appointment of Lip-Bu Tan as its new chief executive has raised fresh speculation over the company's potential expansion into India's semiconductor sector, particularly in the outsourced semiconductor assembly and testing (OSAT) segment
Since 2019, the Indian government has implemented the Production Linked Incentive (PLI) scheme for 14 industries to attract foreign investment in local manufacturing. Although it has positioned India as a key player in smartphone production, its benefits for other sectors are limited. As a result, India may explore offering subsidies for factory construction instead of linking incentives to production and investment levels
