Weekly News Updates-India Oct 11 to Oct 17

Tech talent acquisition at a new phase; Government considers introducing a new PLI scheme for batteries; First semicon fab anticipated within a year; Government approves expenditure of Rs 1000 crore; Foxconn buys land in Telangana for Rs. 126 crore; India to address WTO concerns about laptop import restrictions

Tech talent acquisition at a new phase: Taiwanese tech giants turn to India

A severe lack of skilled workers has impacted Taiwan’s tech industry. Nine Taiwanese companies, including Hon Hai Precision Industry Co., United Microelectronics Corp., Acer Inc., and Powertech Technology Inc., turned to India in an effort to regain their talent pool. This choice highlights a strategic shift in how countries and companies look at the world’s talent pool.

India emerged as an ideal partner due to its enormous pool of IT specialists and internationally recognized institutions. The recruitment effort was evidence of the appeal of Taiwanese enterprises and the enthusiasm of Indian professionals to explore prospects within them, receiving 37,565 resumes and holding 623 face-to-face interactions.

Additionally, Taiwan’s aim to develop its tech sector, notably in research and development, where Indian workers have shown expertise, is in line with the recruitment effort.  Working in Taiwan’s booming IT industry provides access to cutting-edge technologies, global markets, and international collaborations.


Editor’s Note: Over the years India has emerged as a global hub for Technology Talent. India produce more than 1,500,000 engineering graduates annually. It has institutions of global standards such as IITs, NITs, and IIITs, to create best talents. India also has world’s second largest English speaking population. Most of the global technology companies interest in India is also on Talent. Now, Taiwan also looking at India for Tech Talent requirements.

Government considers introducing a new PLI scheme for batteries
印度政府將評估設立電池生產激勵計畫 (PLI)

According to R K Singh, Union Minister for Power and New & Renewable Energy, the government intends to roll out another production-linked incentive (PLI) scheme for batteries to cut costs.

In order to facilitate a smooth energy transition, the PLI storage scheme states that the price of batteries will only decrease if volume increases and encourages the use of electric vehicles (EVs) in India. The PLI project for producing advanced chemistry cell (ACC) batteries with an estimated expenditure of Rs 18,100 crore (181 Billion) received approval from the Central government in May 2021.

The government hopes to raise Rs. 45,000 crore (450 Billion) in investment through this from both domestic and foreign sources. The scheme seeks to manufacture 50 GW of battery storage.


Editor’s Note: The PLI Schemes announced for Electronics and Semiconductors has been of interest from Global players and the same has be made utilized by companies to expand their business in India. This move should also be of serious consideration for Global companies, also from Taiwan, who are looking at India market.

First semicon fab anticipated within a year
According to Union Telecom and IT Minister Aswhini Vaishnaw, the first electronic chip production facility for the nation is anticipated to be functional within a year.

For the purpose of encouraging the establishment of a semiconductor manufacturing ecosystem in the nation, including a wafer fabrication facility, the government initially earmarked $10 billion incentive. The first component of physical chips utilized in all high-tech electronic products is made in wafer fabrication plants.

Last month, Gujarat’s Sanand began building a semiconductor assembly plant for memory chip manufacturer Micron. The company stated in June that it would invest a total of $2.75 billion (about Rs 22,540 crore) in Gujarat to build a semiconductor assembly and test facility.


PLI Scheme for Electronics: Government approves expenditure of Rs 1000 crore

The production-linked incentive (PLI) scheme’s Empowered Committee has approved a distribution of Rs 1,000 crore to participating electronics businesses.

The Committee consisted of representatives from NITI Aayog, the Ministry of Electronics and Information Technology, the Department for Promotion of Industry and Internal Trade, the Department of Revenue, the Department of Economic Affairs, and the Directorate General of Foreign Trade (DGFT).


Editor’s Note: This is the first disbursement of the current fiscal year. Until March 2023, INR. 2,900 crore (29 Billion) has been disbursed under the PLI Scheme. 32 beneficiaries have received approval under the PLI Scheme for large scale electronics manufacturing of mobile phones and specific electronic components.

Foxconn buys land in Telangana for Rs. 126 crore

In a deal worth approximately Rs 126 crore, a unit of Foxconn, Apple’s largest supplier, acquired more than 500,000 square yards of land from a Telangana state agency.

Chang Yi Interconnect Technology (India) will invest Rs 58.24 crore in the production of consumer electronics and components by 2027, according to stamp duty registration documents published by Propstack.


India to address WTO concerns about laptop import restrictions

According to a senior government official, India will address concerns over laptop import curbs expressed by certain countries at the World Trade Organization. The official emphasized that the government’s proposed mechanism is an import monitoring system that has not yet gone into effect.

India had earlier announced import restrictions on laptops, tablets, all-in-one personal computers, servers, and ultra-small form factor computers with immediate effect on August 3. As a result, importers of these products are now needed to apply for government permits for future consignments.

At a meeting of the WTO’s Committee on Market Access on Monday, the United States, China, South Korea, and Chinese Taipei allegedly voiced concerns with India’s intention to impose import restrictions on laptops and desktops.

They have requested India to reevaluate the implementation and offer comprehensive explanations and information on this matter, including the implementation schedule.


Editor’s Note: We have been following the development of India’s decision to license the import of Laptop, Tablets, and other items, as many Taiwan companies are going to be affected by this. Taiwan has also been in the list of countries that raised the concern at the WTO’s Committee on Market Access。