Rapido Becomes Unicorn Amid Surge in India’s Space Tech Sector
印度太空科技產業蓬勃發展，Rapido 成為獨角獸
India’s space technology sector has achieved a significant milestone, securing a record-breaking $126 million in funding for 2023. This marks a 7% increase from 2022 and an impressive 235% jump from 2021, as reported in the Tracxn Space Tech Geo Report 2024. The country’s space tech startup ecosystem is rapidly expanding, now featuring over 100 companies, the majority of which were founded in the past five years. This growth reflects India’s increasing presence in the global space technology arena and its commitment to innovation and development in this sector.
Meanwhile, Rapido, a ride-hailing startup, has joined the unicorn club after raising $120 million in fresh funding led by WestBridge Capital. The funding round propelled Rapido’s valuation to $1 billion, making it the third startup to achieve unicorn status in 2023, following Krutrim and Perfios. The startup ecosystem in India is witnessing renewed investment activity after a period of slowdown, with other companies like Zepto and Purplle also securing substantial funding earlier this year. This trend highlights the growing investor confidence in India’s burgeoning tech startups.
小編點評：印度航太科技產業 2023 年融資額高達 1.26 億美元，較前一年成長 7%，較 2021 年成長 235%。叫車新創公司 Rapido 在獲得 WestBridge Capital 領投的 1.2 億美元融資後，估值達到 10 億美元，成為獨角獸企業。投資的大幅成長凸顯出人們對印度充滿活力的科技創業生態系統的信心不斷增強。
Indian Startups Embrace Generative AI to Drive Innovation
印度新創公司採用生成式人工智慧來推動創新
Artificial intelligence is becoming a cornerstone of innovation for many of India’s leading startups across various sectors, including e-commerce and fintech. A recent report by EY reveals that about two-thirds of India’s top 50 unicorn startups are already leveraging AI or generative AI technology, showcasing their proactive approach to adopting these technologies compared to traditional players. Startups are utilizing AI for a range of applications beyond customer-facing chatbots, such as personalized recommendations, marketing, content generation, fraud detection, risk management, and payment solutions. “There is no poverty of ambition or talent in Indian startups trying to leverage AI,” said Rohit Pandharkar, AI partner at EY. While the scale and maturity of AI deployment in Indian startups are still evolving and lagging behind the US and China, Pandharkar believes this will improve as AI costs decrease.
According to Rajnil Mallik, partner and GenAI go-to-market leader at PwC, the distinction between AI and non-AI startups is blurring as more companies integrate AI into their operations. Indian startups have a talent pool advantage for AI adoption, but global startups often benefit from easier access to capital. In the fintech sector, Indian startups are particularly well-positioned due to the UPI revolution, which has opened new avenues for payment innovations. This shift highlights the growing role of AI as a ubiquitous part of the technological landscape, enabling Indian startups to stay competitive on the global stage.
小編點評：生成式人工智慧日益推動印度頂級新創企業的創新，該國三分之二的領先獨角獸企業將這些技術用於個人化推薦和詐欺檢測等多種應用。儘管與全球領先企業相比，印度新創公司在規模上落後，但它們正在利用其人工智慧人才和 UPI 革命來提高競爭力並實現行業轉型。
India Maintains Stance on Chinese Investments Despite Economic Recommendations
儘管有首席經濟顧問建議，印度仍維持對中國投資的立場
India will not reconsider its current stance on allowing Chinese investments, according to Trade Minister Piyush Goyal. During a press briefing in New Delhi, Goyal stated, “There is no rethinking at present to support Chinese investments in the country.” This statement comes in response to suggestions made by Chief Economic Adviser V. Anantha Nageswaran in the government’s annual economic survey, which recommended focusing on direct investments from China to boost exports and manage India’s growing trade deficit with Beijing. Goyal emphasized that these economic survey recommendations are not binding on the government.
The Indian government heightened scrutiny on Chinese investments following border clashes in the Himalayas in 2020. Despite this, Finance Minister Nirmala Sitharaman has expressed support for Nageswaran’s suggestions to allow more Chinese investment. The Trade Minister’s remarks also follow a Reuters report indicating that India may consider easing restrictions on Chinese investments in non-sensitive sectors like solar panels and battery manufacturing. This potential shift highlights ongoing debates within the government regarding the balance between economic interests and national security concerns.
小編點評：印度將維持目前對中國投資的立場，貿易部長Piyush Goyal確認，沒有計劃重新考慮現有的限制。這一立場與首席經濟顧問 V. Anantha Nageswaran 的建議形成鮮明對比，後者建議增加中國直接投資，以解決貿易逆差並促進出口。儘管財政部長Nirmala Sitharaman支持Nageswaran的提議，但政府內部仍在平衡經濟利益與國家安全問題之間的爭論。
WTO Delays Ruling on India-Taipei ICT Import Duty Dispute Until October
世貿組織將印度與台北 ICT 進口關稅爭端的裁決延至 10 月
The World Trade Organization’s (WTO) dispute settlement body has agreed to delay the adoption of a ruling against India’s import duties on certain information and technology products until the end of October, following a joint request from India and Taiwan. The decision was made during a meeting of the dispute settlement body in Geneva on July 26, as both parties are engaged in mutual discussions to resolve the issue. “The DSB agreed to the latest requests from Taiwan and India,” stated a Geneva-based official. This request marks the fifth time India and Taiwan have sought additional time to consider the adoption of panel rulings concerning India’s tariffs on certain high-tech goods. The two sides requested the DSB to postpone the adoption of the panel reports until October 28, 2024, to facilitate a resolution.
The WTO’s dispute panel had ruled on April 17, 2023, that India’s import duties on specific information and technology products violated global trading norms. This ruling resulted from a case initiated by the European Union, Japan, and Taiwan against India in the WTO, which began in May 2019. The dispute concerns duties on electronic goods, including cellular network telephones and machines for data reception and transmission. India has argued that these products fall under the WTO’s Information Technology Agreement (ITA-2), to which it is not a signatory. India is part of ITA-1, signed in 1997, which did not require eliminating customs duties on these products. The WTO, a 164-member multilateral body, sets norms for global trade and resolves trade disputes among member countries.
小編點評：應印度和台灣的聯合請求，世貿組織將印度對某些 ICT 產品進口關稅的裁決推遲至 10 月底。世貿組織專家小組於 2023 年 4 月裁定印度關稅違反全球貿易規範。這是雙方第五次提出延期請求，因為雙方都尋求解決印度關稅爭端。
Taiwan’s Ahamani EV Invests in India’s Electric Vehicle Sector with New Battery Facility
台商其昜電動車科技透過新電池工廠投資印度電動車產業
Ahamani EV Technology Co., Ltd., a Taiwanese leader in electric two-wheelers and AIOT smart mobility, is set to invest in India’s burgeoning electric vehicle (EV) market by establishing a megawatt-scale battery manufacturing facility. The company is also seeking strategic technology transfer partnerships with major Indian automotive players. With over two decades of innovation in EVs, Ahamani brings expertise in battery technology, motor systems, and intelligent fleet management solutions. Its UrDa AIOT Mobility System, a cutting-edge platform for managing electric two-wheeler fleets, is renowned for its efficiency and data-driven insights.
India’s drive towards electric mobility, backed by favorable government policies and growing consumer demand for sustainable transportation, presents a significant opportunity for Ahamani. By setting up a local battery manufacturing plant, the company aims to enhance India’s self-reliance in the EV supply chain while boosting the domestic economy and job creation. Ahamani’s focus on technology transfer partnerships underscores its commitment to long-term collaboration with Indian industry leaders, fostering the sharing of knowledge, resources, and best practices. Tzu Chi Kung, Founder & CEO of Ahamani EV Technology, emphasized the potential of the Indian market and the company’s readiness to collaborate with Indian partners to accelerate EV adoption in the country. This investment and openness to partnerships reflect Ahamani’s confidence in India’s growth trajectory and commitment to the nation’s electrification goals.
小編點評：台灣其昜電動車科技有限公司正在投資印度電動車產業，建立兆瓦級電池製造工廠，並尋求與印度汽車公司建立戰略技術轉移合作夥伴關係。憑藉在電動車技術方面的豐富經驗，其昜旨在支持印度推動電動車發展，增強當地供應鏈能力，並為創造就業機會做出貢獻。創辦人兼總經理龔子琪強調，該公司熱衷於與印度合作夥伴合作，加速電動車的採用並推動該產業的成長。
No Ban on Import of Chinese and Taiwanese Electronic Items, Says Union Minister
印度聯邦部長表示，不禁止進口中國和台灣電子產品
Union Minister of State for Commerce and Industry Jitin Prasada clarified in Parliament on Friday that there is no specific prohibition on the import of Chinese and Taiwanese equipment and electronic items. This statement was in response to a query by DMK MP Kanimozhi N.V.N. Somu, who inquired whether the Indian government had imposed any bans on such imports used across various sectors in the country.
In response to further queries about the detailed list of Chinese and Taiwanese equipment and electronic items imported from China, the Union Minister stated that such a list is not maintained. Regarding the total value of imports from China and Taiwan over the past five years, Prasada directed to a portal where year-wise data on the overall import value from these countries is available, providing transparency and access to relevant trade information.
小編點評：聯邦部長Jitin Prasada在議會確認，沒有禁止進口中國和台灣的電子產品，並澄清此類設備並未被明確禁止。他還指出，雖然沒有保留進口物品的詳細清單，但可以透過專門的入口網站取得從這些國家進口的總價值的數據。
MediaTek Expands R&D Investments in India to Capitalize on Growing EV Market
聯發科擴大在印度的研發投資，以利用不斷成長的電動車市場
Taiwanese chipset manufacturer MediaTek plans to increase its research and development investments in India to tap into the country’s burgeoning electric vehicle (EV) market. MediaTek’s corporate vice president, Mike Chang, announced the company’s intention to enhance its R&D centers in Bangalore and Noida to focus on automotive chip design and software development. With India undergoing a significant shift in its automotive sector, MediaTek aims to leverage the country’s talent pool and supportive government policies to introduce advanced system-on-chip (SoC) solutions, utilizing Nvidia BlackWell GPUs for enhanced user experiences. MediaTek is actively engaging with Indian two- and four-wheeler manufacturers to implement “Made in India” IoT modules and infotainment systems for electric vehicles.
MediaTek has partnered with Jio Things, a subsidiary of Jio Platforms, to launch smart module devices tailored for the two-wheeler market. This collaboration aims to combine MediaTek’s hardware expertise with Jio’s software and 4G/5G capabilities to offer integrated solutions for EV manufacturers, including fleet management and customer engagement. By the end of the year, MediaTek’s chipsets are expected to be deployed in 11 new car models, capitalizing on its global partnerships with automotive OEMs. As the EV market in India grows, MediaTek intends to replicate its smartphone success in the automotive segment, with projections indicating the market will reach ₹10,000 crore by 2025. The company plans to incorporate generative AI in its automotive technology to enhance the human-machine interface and driving experience, aiming to make its solutions affordable and widely adopted in the Indian market.
小編點評：聯發科正在擴大在印度的研發投資，以利用快速成長的電動車市場，並專注於其班加羅爾和諾伊達中心的汽車晶片設計和軟體開發。聯發科技與 Jio Things 合作，旨在將其晶片組與物聯網模組和資訊娛樂系統集成，增強印度市場的電動車解決方案。今年底，聯發科計劃在 11 款新車中配備其晶片組，並融入生成式人工智慧，以改善用戶體驗並降低新興電動車產品的價格。
Foxconn Plans to Expand India Operations with iPad Assembly at Tamil Nadu Facility
富士康計劃透過在泰米爾納德邦工廠組裝 iPad 來擴大印度業務
Foxconn is considering expanding its manufacturing operations in India to include the assembly of Apple iPads at its Sriperumbudur facility in Tamil Nadu, as reported by The Economic Times. Currently, Foxconn’s efforts in India focus primarily on producing iPhones. The potential shift to iPad assembly marks a significant expansion, as Apple seeks to diversify its manufacturing footprint beyond China. This move aligns with Apple’s strategy to broaden its product assembly locations, having already shifted some iPad production to Vietnam last year. Discussions with the Indian government regarding this expansion are reportedly underway, though starting MacBook assembly in India may take longer due to limited production volumes.
Industry sources indicate that the assembly of iPads in India is feasible, as the process is similar to that of assembling iPhones. The recent reduction in the Basic Customs Duty (BCD) on components from 20% to 15% is expected to accelerate Foxconn’s domestic manufacturing plans. Analyst Ashweej Aithal from Canalys noted that Apple initially hesitated to manufacture iPads and MacBooks in India due to past issues with government restrictions related to its partnership with BYD. These challenges were rooted in geopolitical concerns, but the current reduction in tariffs and policy changes may now facilitate Apple’s expansion in India’s growing electronics manufacturing sector. Meanwhile, Chinese electric car manufacturer BYD Auto Co has already begun assembling iPads in Vietnam, contributing to approximately 5-10% of global iPad assembly.
小編點評：富士康正在探索擴大在印度的業務，包括在其泰米爾納德邦工廠組裝蘋果 iPad，這標誌著其目前專注於 iPhone 生產的重大轉變。儘管過去存在與地緣政治擔憂和政府限制相關的挑戰，但此舉符合蘋果在中國以外實現製造多元化的戰略，並且最近印度進口關稅的降低和政策變化也促進了這一戰略。
DPIIT to Propose Duty Inversion Correction in Electronics and Leather Goods
DPIIT 將提議對電子產品和皮革製品進行關稅倒置修正
The Department for Promotion of Industrial Policy and Internal Trade (DPIIT) plans to recommend correcting duty inversion in electronics and leather goods during the upcoming customs duty review. DPIIT Secretary Rajesh Kumar Singh mentioned that the department is also considering a crackdown on tobacco companies’ proxy advertisements. He emphasized the government’s use of instruments such as Quality Control Orders (QCO) and import tariffs to influence investment decisions. The DPIIT aims to enhance domestic manufacturing and value addition, with a particular focus on expanding the component and vendor ecosystem to increase localization in sectors like electronics and mobiles.
In response to inquiries about foreign direct investment (FDI) and procedural changes, Singh stated that the government is working on standardizing procedures to streamline clearance processes. He clarified that current policies, like the Press Note 3, which allows Chinese investments through the government route, remain in place, and any potential changes are under internal discussion. The DPIIT is also reviewing public procurement norms, with some ministries considering increasing the percentage of minimum local content. Additionally, the department is consulting on extending simplified visa processes to Chinese professionals in non-PLI companies, reflecting a broader strategy to boost foreign investment while enhancing domestic production capabilities.
小編點評：印度商工部產業暨國內貿易推廣部 (DPIIT) 將在即將進行的關稅審查中提出糾正電子產品和皮革製品關稅倒置問題的建議，旨在促進國內製造和在地化。 DPIIT 秘書 Rajesh Kumar Singh 也表示，該部門正在考慮對菸草廣告實施更嚴格的監管，並簡化外國直接投資程序。此外，DPIIT 正在評估中國專業人員的公共採購規範和簽證流程，以增加外國投資並加強當地生產生態系統。