MEGA SEMICONDUCTOR
Bluestone’s new investors; states & semicon hubs
Happy Tuesday! New investors are finalising Bluestone’s pre-IPO funding round. This and more in today’s ETtech Morning Dispatch.
How state governments are chipping in with housing support at new semiconductor hubs
State governments in Assam, Gujarat, and Tamil Nadu are supporting upcoming electronics and semiconductor manufacturing hubs by providing infrastructure, including housing for workers. The Tata Group is building mega-housing projects, hostels, and dormitories with subsidised land from Assam and Gujarat governments. In Tamil Nadu, the government is assisting the housing project at the Hosur plant where Tata Electronics assembles iPhone enclosures.
Vedanta unveils mega road map to reach $10-billion Ebitda
The Vedanta Group has invested around $8 billion in its growth projects. The group will also commission the world’s largest alumina refinery at Lanjigarh. The $10 billion near-term target on earnings before interest, tax, depreciation and amortisation (Ebitda) includes $4.2 billion from aluminium, $2.7 billion from zinc and silver, and $0.9 billion from oil & gas, according to a presentation that the two people shared with ET.
Zepto’s mega financing; shareholder battle at Kenko Health
Happy Wednesday! Zepto is holding talks with investment fund DST Global and venture capital firm Lightspeed for funding. Details on this and more in today's ETtech Morning Dispatch.
South Korea prepares support package worth over $7 billion for chip industry
Finance Minister Choi Sang-mok said the government would soon announce details of the package, which targets chip materials, equipment makers, and fabless companies throughout the semiconductor supply chain.
Bigbasket to Tata Housing: Eight mega Tata Group IPOs to launch soon
From BigBasket to Tata Housing, Tata Group is all set to launch an array of IPOs soon. Tata Group has been aggressively looking to scale up in new-age sectors like digital, semiconductors, EV batteries etc. Bigbasket to Tata Housing: Eight mega Tata Group IPOs to launch soon
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First chip out of semiconductor unit in Assam’s Jagiroad will be rolled out by 2025: Assam CM Himanta Biswa Sarma
Assam CM Sarma unveiled the Rs 27,000 cr Tata semiconductor facility in Jagiroad, aiming to empower Northeast youths in AI and semiconductors. The microchips will be used in Tesla vehicles, supported by the Union Cabinet for construction.
Govt spots missing bits in HCL, Foxconn chip JV, seeks details
Wants info on OSAT unit, tech partner and technology transfer deal between the partners.
Tata Sons to sell TCS shares worth Rs 9,000 crore. Is it to dodge the mega IPO?
In what could be part of a fundraising exercise to avoid the mega IPO of Tata Sons, the holding company of the Tata Group has offered to sell 2.34 crore shares of TCS in block deals. The total transaction could be worth about Rs 9,300 crore. The floor price of the block deal represents a discount of 3.6% from Monday's closing price.
India to be on high-stake global stage of chip makers in 5 years: IT Minister Ashwini Vaishnaw
India aims to become a global semiconductor powerhouse, attracting major players with carefully-crafted policies. The country's semiconductor value chain includes a proposed fab, assembly and test units, and partnerships with Tata Group. India's plans align with the geopolitical battleground and aim to foster local industry and job creation.
Steel-to-software Tata Group now has a chip on its shoulder
Tata Electronics Private Limited will set up a semiconductor fab in partnership with Powerchip Semiconductor Manufacturing Corp, Taiwan. The plant will attract Rs 91,000 crore investment.
Semiconductor units will strengthen India's transformative journey for tech self-reliance: PM Modi
The Union Cabinet on Thursday approved proposals to set up three semiconductor plants, including a mega fab by Tata Group, at a cumulative investment of Rs 1.26 lakh crore, as India moves to position itself as a global powerhouse in chip manufacturing.
Semiconductor units will strengthen India's transformative journey for tech self-reliance: PM Modi
Prime Minister Narendra Modi announced that the approval of three semiconductor units, including a mega fab by Tata Group, by the Union Cabinet will strengthen India's technological self-reliance and position the country as a global hub in chip manufacturing. The government is providing incentives of up to Rs 76,000 crore to boost semiconductor production, crucial for electronic devices in sectors such as defense, automobiles, and telecommunications.
Tamil Nadu and Telangana on Foxconn-HCL’s radar for new chip facility
The HCL-Foxconn joint venture is in “advanced-level talks” with Tamil Nadu and Telangana to set up its recently announced semiconductor assembly and testing unit, people in the know of the development told ET. Though Karnataka was also in the running, these people said the JV is likely to prefer Tamil Nadu or Telangana for setting up the unit, “attracted by better incentive structures” offered by them.
Foxconn ties up with HCL for local semicon assembly
Foxconn has formed a partnership with HCL Group for semiconductor assembly and testing, which is the second attempt by the Taiwanese company to enter the chip-making space in India.
Foxconn-HCL semiconductor pact; most valuable IT services brands
Taiwan’s Foxconn is set to enter India’s semiconductor industry as it stitches up a deal with the HCL group. This and more today’s ETtech Morning Dispatch.
Assam CM says Tata Electronics to hire 1K Science graduates for semicon plant; state targets 10 lakh cr GDP by 2026
Assam Chief Minister Himanta Biswa Sarma has announced that Tata Electronics will recruit 1000 science graduates for its semiconductor facility in Narasapur near Bengaluru. The company is also preparing to set up a plant in Karnataka for semiconductor assembly and packaging. Assam's GDP reached 5.65 lakh Crore in 2023-24, reflecting a 14.7% growth, and is expected to reach 10 lakh Crore by 2026.
Inside Juspay’s new biz plans; revised incentive scheme for chip ancillaries soon
Fintech startup Juspay is building a full-stack payment gateway that can offer card, wallet and UPI-based transactions. This and more in today’s ETtech Morning Dispatch.
In works: Rs 10,000 crore sop scheme for chip ancillaries
The pari-passu or equal footing method for disbursal of incentives is one where the government releases the funds to successful applicants as and when they invest or achieve certain milestones.
Rajasthan firm first to produce memory chips in India
Sahasra has been approved under two government initiatives – production-linked incentive (PLI) for components and sub-assemblies of white goods and the scheme for promotion of manufacturing of electronic components and semiconductors (SPECS).
'Strategic partnership with India has never been more dynamic': US State Secy Antony Blinken
US Secretary of State Antony Blinken praised the dynamic partnership between India and the United States, emphasizing collaboration on advanced semiconductors and defense cooperation. He also highlighted the importance of the Quad alliance and the India-Middle East-Europe Economic Corridor announced by Prime Minister Narendra Modi and US President Joe Biden at the G20 Summit.
Engineer shortage in Vietnam may dent US plans to turn Southeast Asian nation into chips powerhouse
Industry officials, analysts and investors said that the small pool of trained experts will be a crucial hurdle for the rapid development of the chip industry.
India to sign 2 mega units deals to manufacture the silicon fab, says govt
India plans to sign agreements by October-November for up to two mega units to manufacture the silicon fab and compound fab units, according to a statement from the Indian government. Several foreign companies recently visited Gujarat to expand semiconductor production and invest in the factory, which is estimated to generate sales worth $110 billion by 2029.
Positive about India's semiconductor approach: Applied Materials
Semiconductor toolmaker Applied Materials is optimistic about India's semiconductor approach, according to Srinivas Satya, Country President at Applied Materials India. India is making a push for electronics production and is wooing semiconductor and display manufacturers with a $10 billion incentive scheme.
Our made-in-India chip will be ready in 2.5 years: Vedanta chairman Anil Agarwal
After parting ways with Foxconn on their semiconductor joint venture, Vedanta group has made it clear that it remains committed to building India's first semiconductor and display fabs in Dholera Special Investment Region in Gujarat, and substantial progress has happened to tie up with technology and equity partners in semiconductors.
Cargo handling capacity of ports to rise in 2024
India’s cargo handling capacity at ports is expected to get a fillip from 2024 with commissioning of some facilities at Vizhinjam in Kerala and beginning of work at Vadhavan in Maharashtra. The first stage of the Vizhinjam Port is nearing completion and it will serve as the country’s first mega transhipment container terminal, said officials.
Prime Minister Modi to inaugurate 'Semicon India 2023' at Gandhinagar on July 28
"Semicon India, a prestigious national-level event, promises to be a catalyst for the semiconductor industry's progress through invaluable networking, technology demonstrations, and lucrative business prospects. With a strong focus on innovation, participation, and growth, this event holds immense significance in shaping the future of the semiconductor industry in both India and Gujarat," a statement said.
ISMC's India chip plan stalls after Tower-Intel deal in setback to Modi
India's ambitious plans to become a competitive player in the semiconductor market face setbacks, with the proposed $3bn facility by Israel & Semiconductor Manufacture Consortium stalled due to Tower Semiconductor being acquired by Intel, and Vedanta-Foxconn's proposed $19.5bn JV seeing talks to rope in European chipmaker STMicroelectronics as a partner deadlocked.
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