India reportedly plans to continue its restrictive policy against Chinese investments as local manufacturers are hoping to leverage technological expertise from China to build a local supply chain. Taiwan also emerges as a choice for India as it looks to reduce its reliance on China.
According to an official press release, Canon announced plans to strengthen its core businesses in India during a strategy meeting held in Mumbai on June 7. These core businesses include imaging, printing, and surveillance.
According to a presentation released to investors on its website, Tata Motors, the leading EV brand in India, plans to increase Capex in its EV business, aiming to launch mid-to-low-end products to achieve the penetration of EVs in its portfolio to about 30%.
After a general election where India's ruling party lost its parliamentary majority, Taiwanese experts maintain that there are opportunities for Taiwanese investors, particularly in the semiconductor sector. However, investors may encounter challenges as India's central government policies could face opposition from state governments, necessitating efforts to find common ground and compromise.
Asus emphasized the significance of the Indian PC market and is expanding PC production in the country. Asus also urged a consistent and transparent policy.
Dixon Technologies, an EMS/ODM company based in India, revealed its intention to establish a Joint Venture (JV) with a leading display manufacturer based in China. This move marks Dixon's official entry into the display manufacturing sector.
Four-wheeler and two-wheeler companies will launch multiple models by 2030 in India, which has great potential in EV manufacturing and consumption. However, the unavailability of charging infrastructure, geopolitics, and other factors will continue to challenge the country's electrification ambition.
India has concluded its general election, resulting in the ruling BJP losing its parliamentary majority despite retaining power. As a result, the electronics components may experience slower growth due to the need for the government to seek compromises in policy-making and investment support.
According to Maruti Suzuki's press release on June 5, the company announced a commitment to increase its investments in renewable energy projects from INR1.2 billion (US$14.48 million) in fiscal 2024 (April 2023 to March 2024) to INR4.5 billion (US$53.96 million) over the three years starting in fiscal 2025.
According to Renesas' press release, on June 3, the Japan-based semiconductor solution provider and the Indian Institute of Technology Hyderabad (IITH) signed a three-year memorandum of understanding (MOU) to collaborate on research in VLSI and embedded semiconductor systems.
Telangana state official has stated that Foxconn's plant near Hyderabad, Telangana has finished construction and will start manufacturing its first batch of hearbles reportedly include Apple's Airpods, as early as August.
After India approved three chipmaking proposals earlier this year, Tower Semiconductor's wafer fab proposal is in the spotlight as India's general elections conclude.
As multinational companies recognize the importance of diversifying supply chains, India and Vietnam are emerging as key beneficiaries. The electronics and machinery sectors in India are likely to see rising exports in the coming years, says Nomura.
India has surpassed Japan and Australia, becoming Asia's second-largest data center hub after China. Data center capacities in the country are expected to nearly double in the next two years.
