The US and India have formed a partnership to strengthen their technological cooperation through the iCET initiative, as they work towards reducing their reliance on China. Despite India’s efforts to establish a local ecosystem, the country still heavily depends on imported electronic components from China. In response to this, both countries have announced initiatives to boost cooperation in semiconductors and AI, with the goal of decreasing their dependency on China. The US is leading the charge in building a resilient supply chain that is less reliant on China.
Meanwhile, Hyundai Motor India Limited has filed for an IPO in India, seeking to raise between US$2.5-3 billion at a valuation of up to US$30 billion. While specific pricing details have not been disclosed yet, sources indicate that Hyundai is looking to bring significant investment to India’s automotive industry. However, the approval timeline for the IPO remains unclear as India’s market regulator typically takes 3-6 months to process such applications.
In addition to this, 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, undermining their price competitiveness in the market. Furthermore, there are reports of China-based Vivo planning to open a large manufacturing facility in northern India. The company is currently seeking Indian partners to operate the facility amid growing regulatory pressure from India against Chinese investors.
Finally, India is set for significant investments in compute due to sovereign AI initiatives by global companies such as Microsoft, Amazon and Nvidia. These investments are expected to bring infrastructure development and further advance India’s position in the AI industry.
