India closing on an agreement with Tesla
According to reports, India and Tesla Inc. are nearing an agreement that would permit the US manufacturer to ship its electric cars to India starting next year and establish a facility within two years.
Sources say that the announcement might be there at the Vibrant Gujarat Global Summit in January. According to another source, the states of Tamil Nadu, Maharashtra, and Gujara are being considered because they already have developed ecosystems for exporting and selling electric vehicles.
Tesla also plans to invest a minimum of USD 2 billion in its plants initially and aim to boost its purchase of auto parts from the country to up to USD 15 billion.
Piyush Goyal visits Tesla factory at Fermont, participates in investors round-table in San Francisco
On November 13, 2023, Shri Piyush Goyal, the Union Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution, and Textiles, landed in San Francisco, USA. The Minister of Commerce and Industry met with senior Tesla group officials at the Tesla Factory Unit in Fremont to begin the official tour.
The Minister spoke about possible cooperation under the Indo-Pacific Economic Framework (IPEF), strategies for boosting bilateral trade and commerce ties, WTO-related concerns, and other topics of shared interest during these ministerial discussions.
Additionally, the Minister took part in the Investors Round Table, which was arranged in association with Indiaspora & USISPF. Venture capitalists and entrepreneurs from a variety of US industries, such as those in the fields of energy, manufacturing, logistics, technology, and so on, attended the event.
https://pib.gov.in/PressReleaseIframePage.aspx?PRID=1976791
TEGC 2023 celebrates 10 Years of Gaming Excellence & Inclusivity in India
The Taiwan Excellence Gaming Cup (TEGC) 2023 had its exciting 10-year anniversary grand finale at Ambience Mall in Gurugram, NCR, on November 18, providing the gaming community with an unforgettable experience. The longest-running e-sports championship in India surpassed the confines of typical events to become a grand celebration of ten years of gaming brilliance, a leader in inclusivity initiatives, a union of well-known gaming influencers, and an exhibition of Taiwan’s best gaming products.
This year, TEGC launched a unique competition that is particularly intended for the best female gamers in India. It was a truly wonderful initiative. A special CS2 match between two female gamer teams was part of the event.
Govt grants approvals to 27 firms under new IT hardware PLI scheme
Among the 27 companies that received approval to produce IT gear in India under a production-linked incentive scheme are global tech giants Dell, HP, and Lenovo from China. India wants to increase local manufacturing and draw significant investments across the value chain.
The government of India authorized the PLI Scheme 2.0 for IT gear in May, and under it, companies will receive incentives for goods made in India.
The scheme includes the production of laptops, tablets, all-in-one PCs, micro PCs, and servers and has a budget of 170 billion Indian rupees (about $2 billion) distributed over six years.
72 unicorns in India, valued at $196 billion: Report
India’s unicorns contribute significantly to the global unicorn valuation, accounting for 5% of the total, but having a lower average valuation per unicorn than some of their rivals, at $2.72 billion.
According to the research, this places India with the UK and highlights its importance in the global startup sector.
With an extraordinary 668 unicorn firms, the US leads the world in this regard, more than three times as many as China, which comes in second (172).
With a combined worth of more than $2 trillion, US unicorn companies make up more than half (54%) of all unicorn company valuations.
Planned ‘cloud’ laptop by Reliance Jio aims to lower ownership costs
According to reports, Reliance Jio is developing a “cloud laptop” that will significantly lower ownership costs at an estimated ₹15,000.
According to a senior Reliance Jio official the laptop will be a ‘dumb terminal’ with all the storage and processing on the Jio Cloud, allowing users to access all the services at a faster speed and reduce the current purchase cost of about Rs 50,000. Multiple users can access customized services on the same device.
Trials for the planned cloud PC are reportedly still going on, on HP Chromebooks, according to reports. Jio intends to provide the cloud PC for a monthly subscription; the cost details will be confirmed at a later time. To access computing services without having to purchase a new device, cloud PC software can be loaded on any desktop computer or smart TV.
Taiwan labor ministry denies rumors of hiring 100,000 Indian workers
Days after it was suggested in multiple publications that Taiwan might hire 100,000 Indian labourers, Hsu Ming-chun, the country’s labour minister, declared the rumours to be “inaccurate.” She did agree to, though, that although the two nations are in talks, the issue has not yet been finalized.
Days after several reports cited that Taiwan might hire 100,000 Indian workers Hlaborerssu Ming-chun, the country’s labour minister, declared the rumours to be “inaccurate.”
According to a Bloomberg story from last week, India is planning to send tens of thousands of workers to Taiwan as early as next month in an effort to strengthen its economic ties.
Supply Chain Summit: Taiwan’s semiconductor success is accelerated by India’s red carpet treatment of Taiwan
In an effort to realize its semiconductor ambition, India is actively seeking Taiwanese partners. In addition to producing mature-node semiconductors for its 1.4 billion-population market, the country also wants to send out clear message to IC design organizations that they should come design and manufacture for India rather than pass up the opportunity.
Ajai Chowdhry, chairman of the EPIC Foundation, co-founder of HCL Group, and advisor to India’s National Semiconductor Mission, discussed the nation’s ambition with reporters in a private discussion.
Semiconductors play a major role in India’s aim to become a Product Nation and attempt to emulate China’s success.