Weekly News Updates-India May 10 to May 16

Foxconn to invest $500 million in Telangana

Foxconn (2317.TW), a supplier to Apple Inc (AAPL.O), will invest $500 million to build manufacturing facilities in the Telangana state of southern India, the state’s IT minister announced on Monday.

In the first phase, the investment will generate 25,000 employments, according to a tweet from K. T. Rama Rao.

Apple has been shifting production away from China, where previous COVID limitations hampered the creation of new iPhones and other gadgets. The tech giant also wants to prevent any damage to its business from the Beijing and Washington conflict.

The Karnataka government had granted Foxconn permission to spend $968 million in the state at the end of March.

Apple supplier Foxconn to invest $500 mln in India’s Telangana state | Reuters

ASUS changes the India leadership team

Taiwanese tech giant ASUS announced Eric Ou’s appointment as Country Head, President, and Director of the Systems Group, ASUS India on Thursday.

Arnold Su and Dinesh Sharma, who were previously the Business Heads for Consumer & Gaming PCs and Commercial PC & Smartphones at systems group, ASUS India, respectively, have also been promoted by the firm to Vice President.

According to the firm, Eric Ou has 23 years of extensive experience working for ASUS in a variety of locations and capacities. He is credited with being instrumental in growing the brand’s market share to that of a regional market leader.

Taiwanese company ASUS rejigs India leadership team (nationalheraldindia.com)

Cisco to manufacture in India to reach its goal of over $1 billion in exports and domestic production

Cisco, a leader in global technology, announced that it will begin manufacturing in India, marking a significant development in the company’s expansion in the country. This step is a part of Cisco’s plan to diversify and strengthen the global supply chain while also advancing India’s goal of becoming a major hub for manufacturing. With its most recent investment, Cisco hopes to increase local manufacturing and exports by more than $1 billion over the next few years in order to meet the country’s expanding consumer demand.

Following a meeting with Prime Minister Narendra Modi, Cisco Chair and CEO Chuck Robbins declared the opening of a new manufacturing facility in New Delhi.

Organizations in India and throughout the world are accelerating their digitization, and as a result, their technological requirements are expanding and changing quickly. The factory will produce Cisco’s best-in-class technology, built to support complex cloud computing systems and deliver next-generation services and applications in a flexible, economical manner. The products can accommodate businesses’ changing needs as they work to promote agility in a world that is increasingly hybrid and digital-first.

Cisco to Manufacture in India as it Targets over $1 Billion in Combined Exports and Domestic Production

First Pod Taxis to be launched in UP

The first customized rapid transit system in the nation will be implemented at Noida International Airport. The airport and Film City will be connected by a new pod taxi transit system. Uttar Pradesh will host the nation’s first-ever pod taxi service. After receiving all necessary government clearances, the development work will soon begin.

Electric vehicles called Pod Taxis run without a driver. These are compact autonomous vehicles that can travel a predetermined route with 4-6 passengers at a time. However, given their autonomy, they move more quickly. These electric vehicles, which resemble pods, travel on a track from which they draw power. Only these pod taxis are permitted to use the tracks. And in India, Uttar Pradesh would be the first state to make these available. However, they are already in use at Heathrow Airport in London, Singapore, Dubai, and other places across the world.

Uttar Pradesh To Lead Way For Pod Taxi in India: Here’s All You Should Know | Auto News | Zee News

Government assures every assistance for the adoption of the Green Energy Open Access Rule

R K Singh, Minister of New and Renewable Energy, gave the industry instructions to create goals for the Green Open Access Rules 2022.

The Green Open Access Rules 2022 were announced by the government to speed up India’s renewable energy initiatives. In order to further accelerate India’s ambitious renewable energy programs and to ensure that everyone has access to affordable, dependable, sustainable, and green energy, the government announced the Electricity (Promoting Renewable Energy Through Green Energy Open Access) Rules, 2022 on June 6 of last year. These regulations were made known to encourage the production, acquisition, and consumption of green energy, including through waste-to-energy plants.

In order to obtain green power at reasonable rates and to contribute to a more sustainable and greener environment, the minister has urged the leaders of the sector to set goals for going green and make use of the Green Energy Open Access Rules’ provisions.

Power minister asks industry to set targets under Green Open Access Rules (business-standard.com)

MeitY to announce DLIs for semicon startup at Future Design roadshow

Several semiconductor design start-ups may receive financial backing from the Ministry of Electronics and Information Technology (MeitY) during the third SemiconIndia futureDESIGN Roadshow on Friday at the Indian Institute of Technology Delhi.

The roadshows are intended to inspire the next generation of semiconductor designers, promote the culture of collaborative development and shared intellectual property ownership with engaged industry participation, and support domestic semiconductor chip development for the automotive, mobile, communication, and computing industries.

The initiative is part of the semiconductor design-linked incentive (DLI) scheme, which was introduced in 2021 with the goal of enhancing the semiconductor design ecosystem and giving the semiconductor design industry technological leadership. Twenty percent of the semiconductor design engineers in the world are based in India, where they annually design thousands of chips.

FutureDesign Roadshow: MeitY plans DLIs for semicon start-ups, ET Government (indiatimes.com)

Hyundai to invest $2.45 billion India

South Korea’s Hyundai Motor Co announced that it will invest 200 billion rupees ($2.45 billion) in Tamil Nadu over the next 10 years to increase electric vehicle production in the world’s most populous country.

The automobile industry is centred in Chennai, Tamil Nadu, known as the Detroit of Asia, where companies like Ashok Leyland, TVS Motor, and Renault-Nissan produce millions of vehicles each.

In a statement, Hyundai claimed that over the next five years, it will establish 100 EV charging stations throughout the southern state and establish a battery pack assembly facility with a 178,000 unit annual capacity.

South Korea’s Hyundai to invest $2.45bn in Indian state – Nikkei Asia

India’s EV sales increased 174% YOY to 12,47,120 units in FY23

From 4,55,773 units in FY 23, the sales of electric vehicles (EV) in India climbed by 174% year over year.

E2W held the greatest proportion with 48.76%, and E3W passenger car was barely behind with 43.33%, according to data gathered from sources, which shows that 23,37,761 units of electric vehicles (EVs) have been sold up until FY 23. E3W Cargo and E-Car sales, at 3.65% and 3.85%, respectively, were nearly equal. E-bus made up only 0.17% of the total, while other factors made up 0.24%.

Ola: EV sales in India increases 174% YoY to 12,47,120 units in FY23, ET Auto (indiatimes.com)

AI courses to be included in Center’s skills training

The Ministry of Skills Development and Entrepreneurship will soon modify its current courses and create new courses linked to artificial intelligence (AI) to meet the industry’s future requirements. The ministry is eyeing the worldwide demand for trained workers in the AI domains.

A sixteen-member group has been established to develop courses, evaluate training costs for courses connected to AI, and prepare guidelines for various skilling bodies.

By 2025, AI and technology, according to the World Economic Forum’s Global Risks Report of 2023, will create 97 million new jobs while eliminating 85 million existing positions.

training: Centre’s skills training to include AI courses – The Economic Times (indiatimes.com)