India is strengthening its technological cooperation with the US through the iCET initiative in an effort to reduce its dependence on China. Despite India’s ambitious goal of developing a local ecosystem, it still relies heavily on imported electronic components from China. To address this issue, both countries have announced new initiatives to boost collaboration in semiconductors, AI, critical minerals, advanced telecommunications, and defense space. Meanwhile, the US is taking the lead in establishing a resilient supply chain that is less reliant on China.
In other news, Hyundai Motors-owned Hyundai Motor India Limited has filed a Draft Red Herring Prospectus (DRHP) for an IPO in India. While specific pricing details have not been disclosed, sources suggest that Hyundai aims to raise between $2.5-$3 billion at a valuation of up to $30 billion. The timeline for IPO approval remains uncertain as India’s market regulator typically takes 3-6 months to process such applications.
India’s automotive industry and IT hardware companies are urging the government to reconsider its anti-dumping duty on imported printed circuit boards (PCBs) from China and Hong Kong. They argue that this duty increases their production costs and undermines their competitiveness in terms of pricing. On the other hand, Chinese electronics giant Vivo is reportedly planning to open a large manufacturing facility in northern India, seeking Indian partners to operate the plant amidst growing regulatory pressure on Chinese investors.
As for artificial intelligence (AI), major players such as Microsoft, Amazon, and Nvidia are eyeing opportunities presented by sovereign AI in India. This surge in compute investments is expected to further enhance India’s technological capabilities and boost its position in the global AI landscape.
