Taiwan and India strengthen their partnership to promote semiconductor development
Benefiting from strong government support and emerging applications, the Indian semiconductor market is projected to exceed $55 billion by 2026, with domestic electronics production output expected to surpass $300 billion by 2030, according to PwC. In light of these projections, a forum was held to unveil the Indian government’s strategy to become a semiconductor powerhouse. The event, which included the Ministry of Electronics and Information Technology (MeitY) and the India Semiconductor Mission (ISM), focused on the prospects, opportunities, and current market conditions of the Indian semiconductor market. The forum also aimed to deepen bilateral cooperation between Taiwan and India in the semiconductor and electronic technology sectors. Manharsinh Laxmanbhai Yadav, Director General of ITA, emphasized the economic complementarities between India and Taiwan, highlighting the potential for innovation and talent from Indian design houses to be realized through Taiwan’s fabrication and manufacturing capabilities.
Key speakers at the forum outlined India’s strategic initiatives to nurture the semiconductor industry’s growth, including policy support, financial incentives, technology R&D, and talent development programs. S. Krishnan, Secretary of MeitY, emphasized India’s commitment to creating a resilient, diversified, and trusted semiconductor supply chain. Ajit Manocha, President and CEO of SEMI, and Terry Tsao, SEMI Global Chief Marketing Officer and SEMI Taiwan President, underscored India’s readiness to become a significant player in the global semiconductor market. The forum concluded with a call for enhanced collaboration between India and Taiwan, aiming to build win-win partnerships and drive mutual prosperity in the semiconductor industry. This event marks a new chapter in the cooperation between the two nations, positioning India as a pivotal force in the global semiconductor landscape.
Editor’s Note: India and Taiwan have joined forces to bolster semiconductor development, recognizing the immense potential in their partnership. With India’s burgeoning semiconductor market projected to exceed $55 billion by 2026, collaborative efforts aim to capitalize on this growth. Strategic initiatives outlined by key speakers underscore India’s commitment to fostering a resilient and diversified semiconductor supply chain, signaling a new chapter in global semiconductor cooperation.
India asked to rethink competition law by US lobby group representing tech giants Google, Amazon and Apple
A U.S. lobby group representing tech giants Google, Amazon, and Apple has urged India to reconsider its proposed EU-like competition law, arguing that regulations against data use and preferential treatment of partners could raise user costs. In a letter to India’s Corporate Affairs Ministry, the U.S.-India Business Council (USIBC), part of the U.S. Chamber of Commerce, highlighted concerns that the new “Digital Competition Bill” would impose significant obligations on large digital firms, including those with a global turnover of over $30 billion and at least 10 million local users. The bill, similar to the EU’s Digital Markets Act 2022, aims to prevent companies from exploiting non-public user data and promoting their own services over rivals. The USIBC warned that such measures could lead to reduced investment in India, higher prices for digital services, and a limited range of services.
India’s “Digital Competition Bill” was proposed in response to the increasing market power of a few large digital companies. The government panel behind the bill argues that it is necessary to complement existing regulations, which it claims are “time-consuming” to enforce. The bill proposes penalties of up to 10% of a company’s annual global turnover for violations. The Competition Commission of India (CCI) has been investigating big tech firms for years, including fining Google $161 million in 2022 for restricting users from removing its pre-installed apps and allowing downloads without its app store. Amazon and Apple are also under investigation for alleged antitrust violations. While a group of 40 Indian startups supports the new law to address monopolistic practices and create a level playing field, the Indian government will review feedback on the proposal before seeking parliamentary approval.
Editor’s Note: A U.S. lobby group representing tech giants Google, Amazon, and Apple has urged India to reconsider its proposed competition law, expressing concerns about potential negative impacts on user costs and investment. The proposed “Digital Competition Bill” aims to regulate large digital firms and prevent exploitation of user data and preferential treatment of partners. While the Indian government panel argues the necessity of the bill to address growing market power, feedback from stakeholders, including big tech firms and Indian startups, will inform the eventual decision before seeking parliamentary approval.
AI and data protection at the top of tech’s wish list for the next govt
Technology policy experts emphasize that notifying the Digital Personal Data Protection (DPDP) Rules should be a top priority for the new government to enforce the DPDP Act, which has been in suspended animation for the last nine months due to the lack of subordinate rules. The Digital India Bill (DIB), which will replace the Information Technology Act of 2000 and address issues like intermediary liability, fake news, and deep fake content, also requires urgent attention. Regulating AI is essential, especially after the EU approved the world’s first AI governance law. Rahul Matthan of Trilegal and Avimukt Dar of IndusLaw stress the importance of notifying the DPDP rules within the first 100 days. Aparajita Bharti of The Quantum Hub Consulting and Nehaa Chaudhari of Ikigai Law highlight the need for thorough consultation on the rules and adequate preparation time for businesses. Ashish Aggarwal of Nasscom and Dhruv Garg, a tech policy advisor, underscore the importance of clear communication on the DIB and cautious AI regulation to ensure domestic growth.
A new study by Randstad India reveals that 31% of employees in India have faced age-related bias or discrimination at work. The pharma, healthcare, life sciences, and BPO/IT-enabled services sectors report the highest instances of ageism, with 43% of respondents affected. This is followed by the construction, infrastructure, and real estate sectors, where 41% reported ageism. The study, covering nearly 1,000 respondents, shows that 40% have either experienced or witnessed ageism at work, although many were unaware of the term ‘ageism’. Viswanath PS, MD & CEO of Randstad India, notes that overcoming ageism requires a conscious effort to challenge stereotypes and foster an inclusive culture that values both experience and fresh perspectives, ultimately driving collaboration, innovation, and growth.
https://timesascent.com/articles/top-5-it-companies-saw-25k-women-staffers-exit-in-1-year/158732
Editor’s Note: Tech experts emphasize the urgency of enforcing the Digital Personal Data Protection (DPDP) Rules and addressing issues like intermediary liability and fake news through the Digital India Bill (DIB). They stress the need for clear communication and thorough consultation to ensure effective implementation within the first 100 days of the new government. Meanwhile, a study by Randstad India reveals high instances of age-related bias in sectors like pharma, healthcare, and BPO/IT-enabled services, underscoring the importance of fostering an inclusive workplace culture to drive collaboration and innovation.
Few consumer companies lining up their IPOs amid booming stock market
A dozen consumer-facing companies are planning to launch their IPOs this year, aiming to capitalize on the strong growth potential in consumer sectors and the increasing aspirational demand from tier-2 and tier-3 cities. Among these companies are food delivery giant Swiggy, Baazar Style Retail Ltd., CG Foods (maker of Wai Wai noodles), financial service provider One Mobikwik Systems, and Hindustan Coca-Cola Beverages, the bottling partner of Coca-Cola. These companies have either consulted bankers about a public listing or filed the draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI). The DRHP is a document filed with SEBI when a company intends to go public.
Packaged food maker Cremica Food is reportedly planning to raise Rs 500 crore through an IPO. Akshay Bector, managing director of Cremica Food, expressed optimism about the sector, noting a significant resurgence in the HORECA (hotels, restaurants, and catering) and branded foods segments post-COVID. Similarly, Indian spirits company Allied Blenders and Distillers Ltd. has received the final observation from SEBI to file for an IPO, aiming to raise Rs 1,500 crore, including a fresh issue of up to Rs 1,000 crore. Swiggy’s IPO is particularly noteworthy, with the company aiming to raise around $1 billion through its listing. The holding company of Swiggy has changed its name from “Swiggy Private Limited” to “Swiggy Limited,” indicating its transition to a publicly traded corporation. Executives remain optimistic about the potential for IPOs in India’s still unsaturated consumer market.
Editor’s Note: Several consumer-facing companies, including Swiggy, Baazar Style Retail Ltd., and CG Foods, are gearing up for IPOs this year, capitalizing on the robust growth in consumer sectors and increasing demand from tier-2 and tier-3 cities. With companies either consulting bankers or filing draft red herring prospectuses with SEBI, the IPO boom reflects optimism about India’s consumer market potential.
Ministries disagree on whether to include IT gear to the list of public procurement
A debate has reportedly emerged between the Department of Promotion of Industry and Internal Trade (DPIIT) and the Ministry of Electronics and Information Technology (MeitY) regarding the classification of certain electronic items within the public procurement framework. According to a report in the Economic Times, the two ministries are divided over whether items such as storage consumables, printer cartridges, toners, and printer cables should be included in ‘Appendix A’ of the public procurement list.
This classification dispute is significant because ‘Appendix A’ items are subject to specific procurement guidelines and restrictions aimed at promoting domestic manufacturing and self-reliance. The disagreement highlights the broader challenge of balancing industrial promotion with the practical needs of public procurement.
Editor’s Note: A debate has surfaced between the DPIIT and MeitY regarding the classification of electronic items within the public procurement framework, including storage consumables and printer accessories. This disagreement underscores the challenge of aligning industrial promotion goals with the practical requirements of public procurement regulations.
Indian army collaborates with IOCL to receive its first hydrogen bus
Displaying a firm resolve towards finding green and sustainable transport solutions, the Indian Army has collaborated with Indian Oil Corporation Limited (IOCL) for demonstration trials of Hydrogen Fuel Cell Bus technology. A Memorandum of Understanding (MoU) was signed between the Indian Army and IOCL in the presence of General Manoj Pande, Chief of the Army Staff (COAS), and Mr. Shrikant Madhav Vaidya, Chairman of Indian Oil. During the event, one Hydrogen Fuel Cell Bus was received by the Indian Army, marking the start of this mutually beneficial partnership. The MoU emphasizes the commitment to fostering innovation and advancing sustainable transport solutions for the future. Hydrogen Fuel Cell technology, which converts Hydrogen gas into electricity through an electro-chemical process with water vapour as the only byproduct, ensures zero emissions. The Hydrogen Fuel Cell Bus, with a seating capacity of 37 passengers, promises an impressive mileage of 250-300 km on a full 30 kg onboard tank of Hydrogen fuel.
Notably, on 21st March 2023, the Indian Army became the first government entity to sign an MoU with National Thermal Power Corporation Renewable Energy Limited for the installation of Green Hydrogen-based Microgrid Power Plants along the Northern Borders. A pilot project is being set up at Chushul, where a 200 Kilowatt Green Hydrogen-based Microgrid will provide 24×7 clean electricity to troops deployed in inhospitable terrain and extreme climatic conditions. With a focus on innovation and environmental responsibility, the Hydrogen Fuel Cell Bus initiative between the Indian Army and IOCL represents a significant stride towards cleaner and greener transport solutions, paving the way for future advancements in sustainable transportation.
https://pib.gov.in/PressReleaseIframePage.aspx?PRID=2021802
Editor’s Note: The Indian Army has teamed up with Indian Oil Corporation Limited (IOCL) to initiate trials of Hydrogen Fuel Cell Bus technology, showcasing their commitment to sustainable transport solutions. The collaboration, marked by the signing of a Memorandum of Understanding (MoU), highlights efforts towards innovation and environmental responsibility in the pursuit of cleaner transportation options.