As the demand for EVs in India continues to rise, so does the need for batteries. At the moment, lithium-ion batteries are the primary roadblock in India's efforts to be self-sufficient in the EV sphere. Although the country has identified some lithium reserves, extracting them remains a distant goal.
Following the meeting between India's Prime MInister Narendra Modia and Nvidia CEO Jensen Huang, Nvidia announced a partnership with Reliance Industries for buildning AI infrastructure and to train engineers at Tata Consultancy Services, as the AI chip giant is looking to capitalize on India's AI potential.
Foxconn applied for India's incentive schemes for computer and semiconductor manufacutring. Nvidia is optimistic about India's AI demands and is looking to expand the market.
India hopes to encourage local manufacturing of computers with the Production Linked Incentive (PLI) for IT hardware, and Foxconn's decision to apply for the scheme through three entities implied a diversified production for different segments in India.
Foxconn reportedly partnered with STMicroelectronics for semiconductor investments in India, and Foxconn's former chip partner Vedanta submitted a separate application for India's chip incentive scheme.
Amid global supply chain diversification, India keeps attracting investments from global and local manufacturers. However, India's growing electronics production comes with a rising reliance on China.
India's cabinet has approved a plan to incentivize battery storage projects, as the South Asian country is pursuing carbon reduction and encouraging EV adoption.
According to a corporate filing, Hero MotoCorp announced that its board of directors had approved an investment of up to INR5.5 billion (US$66.2 million) in Ather Energy, adding that the investment is subject to the execution of definite documents and completion of certain conditions.
As India's festival season approaches, the smartphone industry is closely watching for signs of recovery in the world's second-largest smartphone market, which has seen shipments decline for four consecutive quarters.
The MEMS and Sensors Forum, part of Semicon Taiwan 2023, was held on September 5. Keynote speaker Prashanth Doreswamy, president and CEO of Continental Automotive Components (India) Pvt., said the primary catalyst of automotive technology development has shifted from horsepower to chips. Next-generation cars rely on electronics to enhance their performance.
Developing the semiconductor industry is a continuous process of accumulating capital, and only profitable companies have enough capital to keep scaling up, investing in R&D, and catch up with leading competitors.
As India's festival season is approaching, Apple reportedly aims to minimize the time gap between the iPhone 15 launch and the release date in India, a boon for Apple to capitalize on the world's second-largest market witnessing smartphone premiumization.
On September 21, 2022, India unveiled the Modified Programme for Development of Semiconductor and Display Manufacturing Ecosystem in India to support its vision of becoming a global hub for electronics system design and manufacturing (ESDM).
In line with India's current ambitions to develop a semiconductor ecosystem in the country, many global companies have been increasing investments and expanding presence here. Recently, AMD announced plans to set up its largest design center in the South Indian city, Bangalore. Intel has also underscored India's rapid growth as a once-in-a-generation occurrence.
