Global hardware companies intensify discussions with local companies to manufacture under PLI
國際硬體大廠將深化與印度本地製造商的合作
According to a report by The Economic Times, leading global hardware brands, including Asus India, Acer India, HP, and Lenovo, are in talks with local companies that have applied for a revised production-linked incentive (PLI) scheme for making laptops, desktops, and servers in India. The companies want to assist India in meeting its target of 70% domestic production.
Rajeev Chandrasekhar, the Minister of State for Electronics and IT, announced last week that the Centre hopes to minimize reliance on imports from dubious sources by up to 70% by producing up to 70% of the nation’s IT hardware needs locally over the next three years.
Editor’s Note: Incentives schemes and regulations are prompting global companies to increase value addition locally. Many Indian EMS companies are open for collaboration with foreign companies. The report states that Taiwanese companies such as Acer and Asus have also informed about their plan of collaborating with Indian companies.
小編點評：印度激勵計劃和法規鼓成功勵全球企業在當地增加價值。許多印度EMS公司願意與外國公司合作。報告指出，像宏碁和華碩這樣的台灣公司也已表明了他們計劃與印度公司合作的意願。
Korean trade team looking into prospective opportunities in the Indian display industry
南韓產業團拜訪印度顯示器業者
A prominent South Korean business team traveled to India to look into potential joint ventures and investments in the high-tech display industry. The delegation was in India at Vedanta Group’s invitation and was led by the Korea Trade-Investment Promotion Agency (KOTRA) and the Korea Display Industry Association (KDIA).
The delegation visited Dholera SIR, Ahmedabad, Mumbai, and New Delhi to meet with important players in an effort to get firsthand knowledge of prospective investment prospects in the nation. The delegation spent time in the Invest India office on the last day of their tour, when the Korea Plus and Invest India teams displayed the vast potential that await foreign companies eager to collaborate with the Make in India project.
Editor’s Note: The report points that high-tech manufacturing is also being explored by foreign companies in India. This will be the right time for Taiwanese companies to explore moving manufacturing to India considering the global trend and also the investment climate.
小編點評：報告指出，外國公司也在印度拓展高科技製造產業。鑑於全球趨勢和投資氛圍，這將是台灣公司探索將製造業轉移到印度的良好時機。
India’s first green hydrogen fuel cell public bus starts its operation
印度啟用第一輛本土綠氫公車
According to the Press Information Bureau (PIB), Union Minister of Petroleum & Natural Gas Hardeep Singh Puri will inaugurate India’s first green hydrogen fuel cell bus at Kartavya Path in Delhi on Monday. The initiative is a part of Indian Oil’s attempts to test 15 fuel cell buses that are powered by green hydrogen on predetermined routes across Delhi, Haryana, and Uttar Pradesh.
This project marks a significant milestone as it is the first-ever initiative in India to provide green hydrogen at 350 bar pressure for fuel cell bus operation. At its R&D site in Faridabad, Indian Oil has also built a refueling station that can refill green hydrogen created through electrolysis using solar PV panels.
Editor’s Note: India is engaged in exploring various sources of clean energy and the pace of transformation is fast. This opens up huge opportunity considering the sheer size of the country and its population. This news is a tip for companies who are looking at exploring hydrogen fuel-based business opportunities in India.
小編點評：印度正在探索各種綠色能源來源，轉型速度迅速。考慮到該國龐大的面積和人口，這為正在考慮在印度探索氫燃料業務機會的公司帶來了巨大商機。
Government issues final Angel Tax rules
印度「天使稅」已於九月實施
With effect from September 25, unlisted firms issuing shares at a price above their fair market value will be subject to an angel tax of 30.6% in an effort to reduce overvaluation and ensure transparency in capital transactions. The Angel Tax regulations for valuing equities and compulsorily convertible preferred shares issued by companies to resident and non-resident investors were announced by the center late on Monday.
The Budget for 2023–24 expanded the scope of the angel tax to include non–resident investors, demonstrating the government’s commitment to regulating financial activities within startups and ensuring proper value evaluations. Previously, angel tax only applied to investments made by a resident investor.
According to the budget, the excess premium would be taxed at a rate of up to over 30% because it is “income from sources.” However, the DPIIT (Department for Promotion of Industry and Internal Trade) exempts startups that have registered from the new standards.
Editor’s Note: This is expected to ease some of the issues of foreign investors. Earlier the Angel Tax was levied only on investments made by local investors. Now it expanded its scope to cover non-resident investors as well.
小編點評：這預計會減緩外國投資者所面臨的一些問題。之前，天使稅僅對當地投資者的投資徵收。現在，其範圍已擴大，包括非居民投資者。
Micron begins construction of semiconductor plant in Gujarat
美光科技於古吉拉特邦的封測廠開始動工
The $2.75 billion assembly, testing, and packaging plant (ATMP) of US-based chipmaker Micron Technology, Inc. was officially launched in Sanand, Gujarat.
The event was held in Sanand at the Gujarat Industrial Development Corporation (GIDC) industrial area, where the company has been given 93 acres of land for the undertaking.
Tata Projects stated in a statement that the contract’s award “solidifies the company’s proficiency in large-scale, sustainable infrastructure development in the Indian manufacturing landscape.”
Editor’s Note: The project is the India Semiconductor Mission’s (ISM) greatest investment to date. On Saturday, Tata Projects announced that it would be working with Micron Technology to build an advanced semiconductor assembly and test facility in Sanand. The company also stated that it would begin shipping semiconductor chips the following year.
小編點評：本案為印度半導體使命（ISM）迄今為止最大的投資。塔塔項目宣布將與美光科技合作，在Sanand建造一個先進的半導體裝配和測試設施。該公司還表示，將在明年開始出貨半導體芯片。
India’s startups in fourth place globally with declared VC funding of above $50 million
印度得到5千萬美金創投的新創家數為全球第四多
India ranks fourth internationally among firms that have received more than $50 million in declared venture capital (VC) investment, according to the most recent Startup Genome Scaleup Report.
In terms of revealed VC funding for startups, only the United States, China, and the United Kingdom have overtaken India, according to a report by the policy advisory and research firm.
Out of the 12,400 startups surveyed in 80 locations across 40 nations, there were 7,184 scaleups in the US, 1,491 in China, 623 in the UK, and 429 in India. However, India outperformed the UK in terms of total VC investments made to scaleups and their cumulative tech value investment.