The US and India have joined forces to boost their technological cooperation through the iCET initiative, with the goal of decreasing their reliance on China. While India aims to establish a local ecosystem, the country still heavily depends on imported electronic components from China. To reduce this dependency, both countries have announced initiatives to focus on semiconductors and AI.
Meanwhile, Hyundai Motor India Limited has filed a Draft Red Herring Prospectus (DRHP) for an IPO in India, seeking to raise between US$2.5-3 billion at a valuation of up to US$30 billion. The approval timeline for the IPO remains uncertain, as India’s market regulator typically takes 3-6 months to process such applications.
In addition to this news, IT hardware companies and automakers in India are urging the government to reconsider its anti-dumping duty on imported PCBs from China and Hong Kong. This duty increase has raised production costs for these companies and undermined their price competitiveness in the market. On the other hand, Vivo is reportedly planning to open a large manufacturing facility in northern India, despite growing regulatory pressure from India against Chinese investors.
Finally, India is set to experience a surge in compute investments due to sovereign AI initiatives by global companies such as Microsoft, Amazon, and Nvidia. These investments are expected to bring significant infrastructure development to the country and further advance India’s position in the AI industry.
