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Global <keyword id="6451058" type="General" weightage="100" keywordseo="semiconductor" source="Orion">semiconductor</keyword> body <keyword id="21260120" type="General" weightage="20" keywordseo="semi" source="keywords">SEMI</keyword> and its peer <keyword id="20317526" type="General" weightage="20" keywordseo="iesa" source="keywords">IESA</keyword> have announced a strategic agreement to boost the industry ecosystem in <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>, a joint statement said. As part of the agreement, the <keyword id="20764178" type="General" weightage="20" keywordseo="indian-electronics-and-semiconductor-association" source="keywords">Indian Electronics and Semiconductor Association</keyword> (IESA) will become part of the SEMI-- the organiser of Semicon events including <keyword id="22843110" type="General" weightage="20" keywordseo="semicon-india" source="keywords">Semicon India</keyword>. "This partnership will help SEMI grow a strong presence in this critical emerging market and enable both organisations to identify tangible strategies that leverage our combined strengths to enhance supply chain resilience," Ajit Manocha, President and CEO, SEMI said. The agreement was signed on the sidelines of Semicon India 2024, the statement said on Wednesday. This agreement will also pave the way for joint policy advocacy efforts, with IESA and SEMI working closely with both Central and State governments to drive incentives for product development and manufacturing, leveraging key programmes such as the <keyword id="19952889" type="General" weightage="20" keywordseo="production-linked-incentive" source="keywords">Production Linked Incentive</keyword> (PLI) and Design Linked Incentive (DLI) models, it said. "This milestone is a major win for India, SEMI, and IESA. It positions India to become a global semiconductor powerhouse, accelerates economic growth, and fosters innovation," IESA President Ashok Chandak said.

SEMI, IESA join hands to boost semiconductor ecosystem in India

<keyword id="6372077" type="CITY" weightage="80" keywordseo="Nasscom">Nasscom</keyword> and <keyword id="1560674" type="ORGANIZATION" weightage="80" keywordseo="IESA">IESA</keyword> have entered into a strategic alliance to push the share of IT and electronics manufacturing to 25% of India's GDP by 2025. 
 
IT services currently account for more than 9% of the country’s GDP. 
 
"The collaboration between Nasscom and IESA is a natural outcome of similar goals and mindset. We have signed memorandum of understanding (MoU) with Nasscom with a vision to take share of ESDM and IT in country's GDP to 25 per cent by 2025," said India Electronics and Semiconductor Association Chairman Vinay Shenoy told reporters today. 
 
India’s Electronic System Design and Manufacturing (ESDM) market is estimated to rise from $76 billion in 2013 to $94 billion in 2015 and reach $400 billion by 2020. 
 
"In recognition of the transformative impact of IT on the Indian economy and the government's vision of 'Make in India', we believe that there is an equal opportunity for the country to win the next wave of electronics design led manufacturing," National Association of Software Companies (Nasscom) President and former IT and Telecom secretary R Chandrashekhar told reporters. 
 
(Image credit: Indiatimes)

Nasscom and IESA join hands to push IT and electronics
manufacturing to 25% of GDP

<ul><li>India and US signed MoU to boost the <keyword id="6451058" type="General" weightage="20" keywordseo="semiconductor" source="Orion">semiconductor</keyword> industry.</li><li>According to IESA, it will help in strengthening the country’s <keyword id="3885344" type="General" weightage="20" keywordseo="semiconductor-ecosystem" source="Orion">semiconductor ecosystem</keyword>.</li><li>SIA captures 99% of the <keyword id="1143494" type="General" weightage="20" keywordseo="us-semiconductor" source="Orion">US semiconductor</keyword> industry.</li></ul>The Semiconductor Industry Association (SIA), which represents the chip industry in the US and India Electronics and Semiconductor Association (IESA) signed an MoU to identify potential areas of the semiconductor industry. The SIA includes big chip designers and manufacturers like AMD, Intel, NVIDIA, Qualcomm, Texas Instruments, Broadcom, and Global foundries. The MoU was signed after the visit of Intel CEO, Pat Gelsinger to India. He also met India's prime minister Narendra Modi on April 6. The chairman of IESA, Rajeev Khushu said that the MoU will help in strengthening the country’s semiconductor ecosystem. He said this is the first visit that the SIA has made to India, and the two industry bodies will look to leverage each other’s strengths to make it possible. He also added, “if you see IESA’s strength, it is to connect with the local government, the state governments and we also cater to customers who use semiconductors here. On the other hand, the SIA has a global reach. Our companies include startups and fabless companies, and they will look to leverage SIA’s global reach to move outside India and sell their products and services." President and CEO of SIA, John Neuffer said, SIA is happy to welcome India's goal of becoming a powerful digital economy and a hub for semiconductors and electronics. Under the memorandum of understanding, both countries will assist each other on semiconductor-related matters and will organise meetings among companies. Also, joint events both virtual and in-person will be organised to explore the opportunities. Recently, India has announced <keyword id="12456382" type="General" weightage="20" keywordseo="india-semiconductor" source="Orion">India Semiconductor</keyword> Mission (ISM) which aims to build a semiconductor ecosystem that will enable India to emerge as a global leader in electronics designs and manufacturing and reduce reliance on other countries, especially China. SEE ALSO: <a href="https://www.businessinsider.in/tech/gadgets/news/how-to-use-an-old-mobile-as-a-dashcam/articleshow/90816325.cms">Here’s how to use your old phone as a car dashcam</a> <a href="https://www.businessinsider.in/tech/mobile/news/googles-pixel-6a-smartphone-spotted-on-a-certification-website-hinting-at-may-release/articleshow/90814316.cms">Google’s Pixel 6a spotted on a certification website hinting at May release</a>

US will help India to boost country’s semiconductor ecosystem

<keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword>'s semiconductor component market is likely to reach $300 billion in cumulative revenues by 2026, as 'Make in India' and production-linked incentive (<keyword id="53367" type="General" weightage="80" keywordseo="pli" source="Orion">PLI</keyword>) schemes will boost local sourcing of semi-components in the coming years, a new report said on Tuesday. Mobile and wearables, IT and industrial segments currently contribute around 80 per cent of the semiconductor revenues in the country in 2021. Further policy reforms and building of a semiconductor ecosystem will reduce reliance on imports going forward, according to the report by the India Electronics &amp; Semiconductor Association (IESA) and <keyword id="6439913" type="General" weightage="80" keywordseo="counterpoint-research" source="Orion">Counterpoint Research</keyword>. "Before the end of this decade, there will be nothing that will not be touched by electronics and the ubiquitous 'chip'. Be it fighting carbon emissions, renewable energy, food safety, or healthcare, the semiconductor chip will be all-pervasive," said <keyword id="1689498" type="General" weightage="80" keywordseo="krishna-moorthy" source="Orion">Krishna Moorthy</keyword>, CEO and President, IESA. The Indian government recently announced an outlay of Rs 76,000 crore (around $10 billion), under its PLI scheme, separately for the development of a semiconductor and display manufacturing electronics ecosystem. Meanwhile, Maharashtra has beaten at least 5 states to win a stupendous Rs 2.06 lakh-crore investment by Vedanta Group-Foxconn partnership in the sunrise semiconductors chips and display fabrications sector in Pune. "The gradual shift from feature phones to smartphones has been generating increased proportions of advanced logic processors, memory, integrated controllers, sensors and other components. This will continue to drive the value of the semiconductor content in smartphones, aided by the rise of wearables such as smartwatch and TWS," explained Tarun Pathak, Research Director at Counterpoint Research. According to Counterpoint Vice President <keyword id="248904" type="General" weightage="80" keywordseo="neil-shah" source="Orion">Neil Shah</keyword>, the next big boom for semiconductor components will come from across sectors. "However, the telecom sector with the advent of 5G and fiber network rollout will be a key catalyst in boosting the semiconductor components consumption," <keyword id="1858" type="General" weightage="80" keywordseo="shah" source="Orion">Shah</keyword> said. This consumption will not only come from the advanced semiconductor-heavy 5G and FTTH network infrastructure equipment, which will contribute to more than 14 per cent of the total semiconductor consumption in 2026, "but also from the highly capable AI-driven 5G endpoints, from smartphones, tablets, PCs, connected cars, industrial robotics to private networks," he mentioned. In 2021, India's end equipment market stood at $119 billion in terms of revenue. It is expected to grow at a CAGR of 19% from 2021 to 2026. The electronic system design and manufacturing (ESDM) sector in India will play a major role in the country's overall growth, from sourcing components to design manufacturing, the report mentioned. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/indian-americans-play-vande-mataram-in-times-square-to-celebrate-independence-day/articleshow/93583410.cms">Indian-Americans play Vande Mataram in Times Square to celebrate independence day</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/us-will-be-key-partner-in-creation-of-new-india-says-ambassador-taranjit-sandhu/articleshow/93583259.cms">US will be key partner in creation of new India, says Ambassador Taranjit Sandhu</a>

Indian semiconductor component market is expected to record a cumulative revenue of $300 billion by 2026

<ul><li>Neither of the companies had prior semiconductor experience or technology, says MoS IT Rajeev <keyword id="79017" type="General" weightage="80" keywordseo="chandrasekhar" source="Orion">Chandrasekhar</keyword>. </li><li>As per IANS, incentive approval delays by the government might have contributed to Foxconn's decision to pull out of the venture. </li><li><keyword id="28423" type="General" weightage="100" keywordseo="vedanta" source="Orion">Vedanta</keyword> says that it has lined up other partners to set up India’s first foundry. </li></ul>Barely a year into signing an ambitious $19.5 billion deal to manufacture semiconductors in India, the <keyword id="17964685" type="General" weightage="20" keywordseo="foxconn-vedanta-deal" source="Orion">Foxconn-Vedanta deal</keyword> went sour and it was curtains on Monday. While Foxconn did not give a reason for the same, the Union Minister of State for Electronics and IT Rajeev Chandrasekhar had a view on why the deal to set up a facility in Gujarat went wrong. “It was well known that both companies had no prior semiconductor experience or technology and were expected to source Fab tech from a tech partner. They could not source an appropriate tech partner for that proposal,” Chandrasekhar said in a tweet, adding that both Foxconn and Vedanta have significant investments in India. He had said earlier in May that the JV which had intended to set-up a facility in Gujarat, has been progressing slowly. Incentives &amp; delays Vedanta, which is one of India’s top energy players, had entered into an agreement with the Taiwanese major which is known as the iPhone component maker — to make 20-28 nm size chips. It is noteworthy here that India plans to become a <keyword id="712417" type="General" weightage="20" keywordseo="semiconductor-manufacturing" source="Orion">semiconductor manufacturing</keyword> destination and get a slice of Taiwan’s pie which manufactures over 90% of chips currently. Semiconductor chips are essential components in electronic devices, and their manufacturing is key to gaining an edge over China. The JV had gone through many delays, and has now gone completely kaput. As per a source-based IANS report, concerns about incentive approval delays by the Union government had contributed to Foxconn's decision to pull out of the venture. The government had raised posers on the costing provided to request incentives from the government. The government has also decided to keep open the $10 billion financial incentive scheme with a 50% subsidy on investments for making semiconductors in India for potential applicants. ‘India is just getting started’ Now, Vedanta intends to go ahead with the project and is working on removing Foxconn’s name and finding a new partner. "We have lined up other partners to set up India’s first foundry. We will continue to grow our semiconductor team, and we have the licence for production-grade technology for 40 nm from a prominent Integrated Device Manufacturer (IDM). We will shortly acquire a licence for production-grade 28 nm as well,” said Vedanta. Chandrasekhar also said that Vedanta recently submitted a 40 nm fab proposal backed by tech licensing agreement from a global semiconductor major. It is currently under evaluation by Semicon India Tech Advisory group. “It is not for the government to get into why or how two private companies choose to partner or choose not to but, in simple terms, it means both companies can and will now pursue their strategies in India independently, and with appropriate technology partners in semicon and electronics,” said the minister. India is just getting started on semiconductor manufacturing locally, Chandrasekhar added. As per a joint report by <a href="https://www.counterpointresearch.com/india-semiconductor-manufacturing-trajectory/#:~:text=India's%20semiconductor%20market%20is%20expected,up%20a%20semiconductor%20manufacturing%20facility.">Counterpoint Research and the India Electronics</a> &amp; Semiconductor Association (IESA), India’s semiconductor market was valued at $22.7 billion in 2019. The report had also expected it to grow significantly to $64 billion by 2026 – driven by demand from consumer electronics, telecom, IT hardware and other sectors. The Deal Timeline December 2021: The Union Cabinet approves ₹76,000 crore scheme to boost semiconductor and display manufacturing in the country. February 2022: Foxconn and Vedanta forge a JV to manufacture semiconductors September 2022: The partners sign pacts to set up plans to build separate units for semiconductor and display production in Ahmedabad. September 2022: The Union Cabinet tweaks the semiconductor scheme, approves 50% financial incentives for manufacturers of semiconductor fabs across technology nodes and compound semiconductors, packaging, and other chip facilities May 2023: MoS IT Rajeev Chandrasekhar says that <keyword id="17964684" type="General" weightage="20" keywordseo="foxconn-vedanta-jv" source="Orion">Foxconn-Vedanta JV</keyword> is struggling to find a tech partner. (With IANS inputs)

Foxconn-Vedanta: How the $19.5 billion deal went kaput

<keyword id="8605129" type="General" weightage="20" keywordseo="Electronics-export" source="Orion">Electronics export</keyword> from <keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword> is expected to cross Rs 1.28 lakh crore in the next financial year, Minister of State for Electronics and IT Rajeev <keyword id="79017" type="General" weightage="50" keywordseo="chandrasekhar" source="Orion">Chandrasekhar</keyword> has said. The minister, in an interview with PTI, said the government is now going to broaden and widen the electronics manufacturing ecosystem with a new production-linked incentive scheme for hearable-wearable, IT hardware and component makers. "Electronics manufacturing as a whole, we see next year that we will at least do exports worth Rs 1.28 lakh crore. I have already said that we will see mobile phone exports reaching Rs 1 lakh crore in 2023-24," Chandrasekhar said. There has been a focus on mobile phones because it is the fastest-growing segment in electronics across the world, he added. "Value addition in manufacturing is a function of scale. First, you need to hit the scale. The component industry is the one which does value addition. Components will not come if the scale of manufacturing is not there. The next stage of our PLI is to get components PLI, hearable-wearable PLI and the IT server PLI," the minister said. The government will do 100 per cent hand-holding of component players to boost the local ecosystem, he noted. Electronics component makers' body ELCINA has requested the government to allocate USD 10 billion (about Rs 80,000 crore) for 8 years to boost manufacturing of electronic components and key modules other than semiconductors. It has sought a four-year extension to the Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS), with an increased outlay of Rs 16,000 crore in the <keyword id="6360189" type="General" weightage="80" keywordseo="union-budget" source="Orion">Union Budget</keyword> for 2023-24. According to ELCINA, the upgraded PLI will facilitate investments of around Rs 64,000 crore with a targeted output of USD 24 billion (about Rs 1.95 lakh crore) for all components other than semiconductors. The industry body has also sought reinstatement of income tax relief for the investment made in research and development. It has also asked for a PLI scheme with a focus on domestic electronics manufacturing services companies. <keyword id="292934" type="General" weightage="80" keywordseo="india-electronics" source="Orion">India Electronics</keyword> and Semiconductor Association (IESA) has requested the government to convert the PLI scheme into a design-led manufacturing scheme and impose an import duty of 10 per cent on any imported electronics equipment and assembled printed circuit board (PCB) to boost local manufacturing.

Electronics export from India to cross ₹1.28 lakh crore next fiscal: MoS IT

<ul><li>China witnessed its biggest-ever monthly decline in chip manufacturing in August . </li><li>The slump in chip production in China is coming as both India and the US ramp up efforts to bolster local chip manufacturing.</li><li>The Gujarat government has partnered <keyword id="28423" type="DOMAIN" weightage="20" keywordseo="vedanta" botkeyword="" source="ET" sourcekeytype="COMPANY" meta.keywordsubtype="EQ" meta.aliasname="vedanta" meta.entityname="Vedanta Ltd." meta.entityid="13111" meta.seoname="vedanta-ltd">Vedanta</keyword> and Foxconn, aiming an investment of ₹ 1.54 lakh crore to produce semiconductors. </li></ul> As India and the US double down on domestic <keyword id="712417" type="General" weightage="100" keywordseo="semiconductor-manufacturing" source="Orion">semiconductor manufacturing</keyword>, China witnessed its biggest-ever monthly decline in chip manufacturing in August owing to Covid restrictions and weakening demand. According to the South China Morning Post, the production of integrated circuits (ICs) slumped 24.7 per cent year on year to 24.7 billion units, marking the largest single-month decrease since 1997. This is also the second consecutive month of decline for chip manufacturing. In July, the output nosedived 16.6 per cent to 27.2 billion units. Local output of microcomputers fell 18.6 per cent to 317.5 billion units in August. In August, domestic manufacturing activity contracted for the first time in three months, the report mentioned. A record 3,470 chip-making companies "went out of business in the first eight months of the year", according to statistics from business database platform Qichacha. The slump in chip production in China is coming as both India and the US ramp up efforts to bolster local chip manufacturing. The Gujarat government has partnered Vedanta and Foxconn, aiming an investment of ₹ 1.54 lakh crore to achieve self-reliance in the field of semiconductor manufacturing. India's semiconductor component market is likel to reach $300 billion in cumulative revenues by 2026, as 'Make in India' and production-linked incentive (PLI) schemes will boost local sourcing of semi-components in the coming years, according to the report by the India Electronics &amp; Semiconductor Association (IESA) and Counterpoint Research. The Indian government has announced an outlay of ₹ 76,000 crore (around $10 billion), under its PLI scheme, separately for the development of a semiconductor and display manufacturing electronics ecosystem. Meanwhile, US President Joe Biden has signed into law the Chips and Science Act, which provides nearly $52 billion in semiconductor production incentives. Intel has kicked off work on the new $20 billion semiconductor plant in the Ohio state in the US. Samsung has floated an idea of investing nearly $200 billion to build 11 more chip plants in the US over the next two decades. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/idbi-trustee-asks-rcap-administrator-to-withdraw-allegations-of-breach-of-confidentiality/articleshow/94280808.cms">IDBI Trustee asks RCap administrator to withdraw allegations of breach of confidentiality</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/obesity-is-linked-to-long-covid-risk/articleshow/94270032.cms">Obesity is linked to long Covid risk</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/global-artificial-intelligence-market-to-reach-450-bn-in-2022/articleshow/94269565.cms">Global artificial intelligence market to reach $450 bn in 2022</a>

China's chip output shrinks as India, US ramp up local manufacturing

<ul><li>Akhter led a <keyword id="145965" type="General" weightage="20" keywordseo="semiconductors" source="Orion">semiconductors</keyword> trade mission to <keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword> and met top government officials in the Capital.</li><li>India's semiconductor component market is likley to reach $300 billion in cumulative revenues by 2026. </li><li>Last year, the government announced a ₹ 76,000 crore performance linked incentive (<keyword id="53367" type="General" weightage="50" keywordseo="pli" source="Orion">PLI</keyword>) scheme in the semiconductor sector . </li></ul> As the US and India join hands to address semiconductors supply chain challenges, the <keyword id="99719" type="General" weightage="50" keywordseo="joe-biden" source="Orion">Joe Biden</keyword> government's offer to provide assistance to India to build up its semiconductor manufacturing capacity appears to be just lip service, Chinese state-run publication Global Times has said. US deputy assistant secretary, South and Central Asia, Afreen Akhter, during her visit to India this week, said they will help India boost its semiconductor manufacturing capacity. Akhter led a semiconductors trade mission to India and met top government officials in the Capital. According to Global Times, the announcement is designed to "lure India into a geopolitical game to exclude <keyword id="1334" type="General" weightage="50" keywordseo="china" source="Orion">China</keyword> from the global chip industrial chain, rather than a commitment with real investment plans to support India's chip manufacturing." The report mentioned that the CHIPS and Science Act, that aims to provide $52 billion in subsidies for chip manufacturers to build fabrication plants in the US, is an attempt to build up an industrial chain focused on the interests of the US, "which is unlikely to bring benefits to India." India has introduced a series of preferential policies to attract chip companies to invest in production in the country. Last year, the government announced a ₹ 76,000 crore performance linked incentive (PLI) scheme in the semiconductor sector to boost local manufacturing. As India and the US double down on domestic semiconductor manufacturing, China witnessed its biggest-ever monthly decline in chip manufacturing in August owing to Covid restrictions and weakening demand. That was also the second consecutive month of decline for chip manufacturing. In July, the output nosedived 16.6 per cent to 27.2 billion units. Meanwhile, the Gujarat government has partnered Vedanta and Foxconn, aiming an investment of ₹ 1.54 lakh crore to achieve self-reliance in the field of semiconductor manufacturing. India's semiconductor component market is likley to reach $300 billion in cumulative revenues by 2026, as 'Make in India' and production-linked incentive (PLI) schemes will boost local sourcing of semi-components in the coming years, according to the report by the India Electronics &amp; Semiconductor Association (IESA) and Counterpoint Research. The report further said that as India wants to become a chip powerhouse, it "should not take the bait laid by American diplomats in the hope that the US will provide it with important resources." "First, the assistance that Akhter said the US would provide to India may not be delivered on," it added. "Even as the US chose India as a partner in semiconductor cooperation in geopolitical calculations, this doesn't mean it will really help India to boost the semiconductor sector," the report mentioned. The real question India faces is if it wants to upgrade its chip manufacturing sector and move toward the upstream industrial chain, "it must build up a solid industry basis, instead of pinning its hope on US lip service". SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/india-unlikely-to-be-hit-as-hard-by-global-recession-as-other-countries-sbi-chairman/articleshow/94872601.cms">India unlikely to be hit as hard by global recession as other countries: SBI chairman</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/unseasonal-rains-have-damaged-crops-agri-minister/articleshow/94879881.cms">Unseasonal rains have damaged crops: Agri Minister</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/indias-forex-reserve-declined-due-to-dollar-appreciation-fm/articleshow/94872555.cms">India's forex reserve declined due to dollar appreciation: FM</a>

US offer to help India in chip manufacturing just lip service: China

<ul><li>NIIF’s MD and CEO Sujoy Bose gives a break up of investments across sectors to hit its <keyword id="34553" type="General" weightage="20" keywordseo="renewable-energy" source="Orion">renewable energy</keyword> targets by 2030.</li><li><keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword> needs to invest $200 billion to set up 500GW of non-fossil fuel energy. </li><li>The country needs $160 billion to fund its <keyword id="8411893" type="General" weightage="20" keywordseo="green-hydrogen" source="Orion">green hydrogen</keyword> goals. </li><li>The capex that must be spent towards electric vehicles is $200 billion, says Bose.</li></ul>India needs hundreds of billions of dollars in capital infusion to meet its sustainability and renewable energy targets. Sujoy Bose, the MD and CEO of the National Investment and Infrastructure Fund, has put a number on it – $560 billion. That’s more than a seventh of India’s current GDP of $3.5 trillion. According to Bose, India needs to invest trillions of dollars to achieve its goal of “Net Zero” by 2070. Bose said India’s sustainability goals could not only help it environmentally, but also economically. “India can become a new hub for technology and its deployment. Investing in sustainability is required to be at the forefront of new industries,” Bose said at the annual FICCI Capital Markets conference, adding that these investments could lead to new, higher income jobs as well. This has the implication of uplifting India’s median wages as well, which stood at $400, placed 72nd among 106 countries in a 2020 survey. Here’s a breakdown of the different renewable energy bills India will need to fund, according to Bose: <cmsannotation type="cmsannotation" annotationid="$200 billion for 500GW of non-fossil fuel energy by 2030" comment="subhead" text="$200 billion for 500GW of non-fossil fuel energy by 2030">$200 billion for 500GW of non-fossil fuel energy by 2030</cmsannotation> Currently, 40% of India’s total energy needs are met by renewables and hydro power. The government intends to increase this to 60% by the end of the decade, and that will need over $200 billion in funds, according to Bose. As of now, India’s total renewable energy capacity stands at 160GW, and the government has a goal of expanding it to 500GW by 2030. By the government’s estimates, India’s total energy capacity would more than double from the current 404GW to 820GW by 2030. <cmsannotation type="cmsannotation" annotationid="$160 billion to fund India’s green hydrogen goals" comment="subhead" text="$160 billion to fund India’s green hydrogen goals">$160 billion to fund India’s green hydrogen goals</cmsannotation> Green hydrogen is being seen by many as a key component of achieving “Net Zero” status. This prospect has India’s richest men – Gautam Adani and Mukesh Ambani – excited. Earlier this year, Adani Enterprises announced a partnership with France’s TotalEnergies to create a green hydrogen ecosystem with an investment of $50 billion over the next 10 years. Ambani, on the other hand, pledged $75 billion towards <keyword id="60895" type="General" weightage="20" keywordseo="green-energy" source="Orion">green energy</keyword> – including an undisclosed sum towards green hydrogen. Yet, these announcements are still not close to the total capex required for green hydrogen goals. But help is coming, including from the state-run Indian Oil Corporation, and the Hyderabad-based Greenko group. <cmsannotation type="cmsannotation" annotationid="$200 billion for India’s EV goals by 2030" comment="subhead" text="$200 billion for India’s EV goals by 2030">$200 billion for India’s EV goals by 2030</cmsannotation> The EV revolution might still be on its way to India, but there has been an uptick in EV sales over the past two years — inching towards 5 lakh units. A report by India Energy Storage Alliance (IESA) states that EV sales could increase at a compounded annual growth rate of 49% till 2030, touching total sales of 17 million. For that to materialize, though, Bose says a massive $200 billion capex is needed. <cmsannotation type="cmsannotation" annotationid="Here’s how India can fund its renewable energy goals" comment="subhead" text="Here’s how India can fund its renewable energy goals">Here’s how India can fund its renewable energy goals</cmsannotation> According to Bose, three types of capital will be required to fund India’s renewable energy goals, including equity, risk capital, and debt. “The government has shown the way via the regulatory innovation in the case of renewable energy – the creation of the Solar Energy Corp of India, combined with tools such as priority dispatch, was crucial to give a fillip to private investment in the renewable sector,” he said. He says this has led to renewable energy generation being cheaper than coal-fired power in many cases. For now, though, most of the equity investment in the renewable energy sector is foreign. Bose says that linking international and domestic finance to climate-related projects will help close the gap. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/cant-be-locking-horns-with-zomato-and-swiggy-says-restaurant-body/articleshow/94203208.cms">Can’t be locking horns with Zomato and Swiggy, says restaurant body</a> <a href="https://www.businessinsider.in/stock-market/news/these-are-the-best-and-worst-performing-nifty-indices-in-2022-so-far/articleshow/94149156.cms">These are the best and worst performing Nifty indices in 2022 so far</a> <a href="https://www.businessinsider.in/stock-market/news/explained-what-are-you-in-investing-in-when-youre-investing-in-nifty50/articleshow/94041896.cms">Explained: What are you investing in when you’re investing in Nifty50</a>

The bill for India's renewable energy goals by 2030 – $560 billion

As the government pushes for self reliance in the mobile phone and electronics industry with the clarion call for 'Atmanirbhar Bharat', data shows that over 45% imports of smartphone components in the last financial year (FY 2019-20) came from China. Citing data from the Directorate General of Commercial Intelligence and Statistics (DGCI&amp;S), the Ministry of Electronics and Information Technology on Thursday said that the total imports of smartphone components in the country in FY2019-20 were worth ₹56,039 crore, out of which imports from China were to the tune of ₹25,441 crore, which amounts to about 45%. In a written reply to a question in the Rajya Sabha, the ministry also said that the total electronic component imports in the country in FY2019-20 was of Rs 1,15,558 crore, out of which the import from China was of ₹42,983 crore, which amounts to about 37 per cent of the total imports. On the impact of the Covid-19 outbreak on the supplies to India, the ministry said that the outbreak in China coincided with the Chinese New Year festivities which extended till mid-February 2020 and Indian electronics companies had already stocked raw material or components till end-February 2020. Though most factories in China were able to resume operations and achieve around 50 per cent capacity utilization by mid-March 2020, the virus had spread in other parts of the world, including India, by such time and a nation-wide lockdown was imposed on March 23, 2020. This led to a complete halt in all production activities, including electronics manufacturing, with the exception of a few companies who were manufacturing electronic components for essential medical equipment such as ventilators, the ministry said. "It was only after the lockdown was lifted that the domestic companies in the electronics sector resumed production and other associated activities. The shutdown of factories for about two months has impacted the domestic electronics manufacturing sector," it added. According to the India Electronics &amp; Semiconductor Association (IESA), there will be production loss of 20-25 per cent in 2020-21, compared to 2019-20, the ministry said in its reply. SEE ALSO: <a href="https://www.businessinsider.in/defense/news/latest-updates-on-india-china-border-issue/articleshow/78162853.cms">India will take necessary steps against China — 'We will not back down,' asserts Rajnath Singh</a>

India imported smartphone components worth ₹25,441 crore from China in FY20

Rs. 500 Crores for Standup India 
Government has shown great intent in promoting the start-up ecosystem in India. With Government's announcement to promote women entrepreneurship, and entrepreneurship in the SC/ST category, we will have an immense role to play along with MSME in making this initiative successful. We are honored with government's trust on associations like IESA and look forward to work in tandem to realize this socially important goal. 
 
Investment exists in <a href="http://www.businessinsider.in/searchresult.cms?query=start-ups">start-ups</a> in two years qualifies as Long Term Capital Gains and this encourages angel/venture capital infusion. Further, the simplification of norms for forming a company along with 3 year tax holiday will spur entrepreneurs to establish <keyword id="428085" type="UNKNOWN" weightage="60" keywordseo="start-ups">start-ups</keyword>. This reflects the commitment PM Modi made during the <a href="http://www.businessinsider.in/searchresult.cms?query=Start-up+India">Start-up India</a> Action Plan on Jan 16th. We are happy with Government’s initiative to boost local manufacturing and the <a href="http://www.businessinsider.in/searchresult.cms?query=start-up">start-up</a> ecosystem in India, with their decision to allow rebates to the <a href="http://www.businessinsider.in/searchresult.cms?query=SME">SME</a>s and also 100% deduction of profits to the start-ups. 
 
With Government’s announcement to promote women entrepreneurship and entrepreneurship in the SC/ST category with a propose budget of Rs. 500 Crores, we will have a critical role to play along with MSME in making this initiative successful. We are honored with Government’s trust on associations such as ours. We see this initiative as a great way to explore India Innovation Fun, IESA will work in tandem to realize this socially important goal. 
 
Rs. 1700 Crores on Skill Development 
Government’s focus in promoting entrepreneurial skills is the right step taken towards the growth of the ecosystem. The Investments made by Govt. to build skilled workforce will help increase employment in the country. 
 
This initiative will give impetus to implementation of national programmes like <a href="http://www.businessinsider.in/searchresult.cms?query=Digital+India">Digital India</a>, <a href="http://www.businessinsider.in/searchresult.cms?query=Make+in+India">Make in India</a>, Smart Cities as skilled workforce is at the core of the programs’ success, overall accelerating India’s <a href="http://www.businessinsider.in/searchresult.cms?query=economic+development">economic development</a>. 
 
Smart Transportation Initiative 
Glad to see focus on smart transportation from the government. It’s a known fact that the nation struggles with transportation related issues and we are pleased to see focus on implementing smart transportation through startup involvement. 
 
Excise Duty Amendment 
Exemption of BCD and SAD for ATMP for semiconductor wafer fabrication / LCD fabrication is a very well planned move and will certainly give a boost to local manufacturing especially to SMEs. Similar exemption extended to parts and components, sub parts for manufacturing of charger, adaptors, mobile phones, routers, modems, set- top boxes etc., will significantly go a long way in encouraging local production. 
 
Imposition of BCD on finished products like <a href="http://www.businessinsider.in/searchresult.cms?query=telecom+equipment">telecom equipment</a> etc., is a very well thought out to enhance domestic manufacturing and reducing import dependence. Reduction of BCD on specific capital goods for manufacturing of various fuses is a boost to component manufacturing and enriching the supply chain. 
 
Make in India 
Imports of assembled sub-systems like charger/adapter, battery and wired headsets/speakers for manufacture of mobile phone will cost 16.5% more due to withdrawal of Basic Customs Duty and Special Additional Duty. 
 
On the other hand, inputs, parts and components, subparts for manufacturing these and other electronics sub-systems have been reduced to 0%. Further, imports of populated Printed Circuit Boards will cost 2-4% more. Both these reflect a strong commitment to promote local value additions in electronics. 
 
(The article has been authored by MN Vidyashankar and Vinay Shenoy from the India Electronics and Semiconductor Association) 
 
Image credit: Indiatimes

Did Budget 2016 help India's Electronic Manufacturing?

In another move to bump up PM Narendra Modi’s ‘Make in India’ and ‘Digital India’ program, government has now approved 21 electronic clusters. <keyword id="46149" type="POSITION" weightage="20" keywordseo="Telecom-minister">Telecom Minister</keyword> <keyword id="6354886" type="PERSON" weightage="20" keywordseo="Ravi-Shankar-Prasad">Ravi Shankar Prasad</keyword> pronounced the pact while speaking at the occasion of <keyword id="6372077" type="CITY" weightage="20" keywordseo="Nasscom">NASSCOM</keyword> and IESA alliance for government’s Make in India and Digital India plans. 
 
"We have given in-principle approval to 21 electronic clusters and electronic manufacturing is priority area for us," said Ravi Shankar Prasad. The report published in business daily Economic Times said the alliance is aiming for IT and electronic system design and manufacturing (ESDM) to contribute 25% to the country's <keyword id="35050" type="CITY" weightage="20" keywordseo="gdp">GDP</keyword> in another ten years. 
 
Telecom Minister Ravi Shankar Prasad informed that the ministry had already approved proposals worth Rs 9,000 crore among the applications worth 65,000 crore it has received so far. All the applications approved by the ministry have been accepted under the modified special incentive package scheme or MSIPS program, which aims to promote large-scale manufacturing in electronic system design and manufacturing. 
 Under the MSIPS program, a subsidy of 20% in capital expenditure is given to companies for investment in SEZs and 25% in non-SEZs. As per the reports, telecom sector, in the past few years has emerged as one of the biggest contributor in <keyword id="44528" type="ORGANIZATION" weightage="20" keywordseo="FDI">FDI</keyword>. 
 
Prasad also said, ‘Manufacturing is crucial as it drives economic growth and revenue for the country. India's mobile penetration is expected to cross the one billion mark, but it is unfortunate that the country depends largely on imported devices.’

Telecom is the biggest contributor to FDI

Seeing the tremendous growth of the electronics market in India, the US $5 billion Brijmohan Lall Munjal - led Hero Group, with presence in over a dozen business verticals, also entered the sector with the formation of a new company, '<keyword id="2912767" type="UNKNOWN" weightage="100" keywordseo="Hero-Electronix">Hero Electronix</keyword>'. 
 Suman Kant Munjal, chairman, Hero Electronix, said, "Hero Electronix will add associated business lines to its portfolio over the next few years and grow the vertical to help India develop a much needed sustainable electronics ecosystem. The company has lined up investments of Rs. 500 crore in next few years. This will give a huge impetus to the '<keyword id="6354869" type="UNKNOWN" weightage="80" keywordseo="make-in-India">Make in India</keyword>' initiative by helping reduce the imports of electronics into the country." As its first strategic initiaive, Hero Electronix will acquire a majority shareholding in <keyword id="2912768" type="COMPANY" weightage="80" keywordseo="Mybox-Technologies">Mybox Technologies</keyword> , the largest multi operator manufacturer of set top boxes in the country. Hero Electronix sees immense potential in Mybox and its management team. Using its core competence in hardware and embedded systems design, Mybox is strategically focusing on fulfilling the demand of digitization in India, while simultaneously developing products for the world. 
	 
	 

	Mybox is a leading supplier to marquee DTH and cable operators across India. A company with strong research and development capabilities, Mybox is a venture recognized by the Government of India and approved by DSIR (Department of Scientific and Industrial Research). It is also one of the very few companies engaged in end-to-end design of indigenous set top boxes. 
 

	In keeping with its long standing heritage of commitment to excellence, Hero aims to build strong in-house capabilities to help 'Make in India' flourish with this venture into the electronics sector. An iconic household name in India since 1950's, the group has helped the growth of industry in the country, bringing customer-focused products ranging from two-wheelers to financial solutions. 
 
 As per the estimates of <keyword id="2913034" type="UNKNOWN" weightage="60" keywordseo="India-Electronic-and-Semiconductor-Association">India Electronic and Semiconductor Association</keyword> (IESA), the imports of electronics into India currently stand at 65% of the overall demand. 
	 
	(Image credits: Indiatimes)

Hero Group enters electronics sector with Hero Electronix

Another year ends today. Looking back we see this year as the year of innovations. Science and Technology made real what were earlier conceived merely as sc-fi fiction- from driverless cars to making the closest match of a robot to human. India too saw the <a href="http://www.businessinsider.in/India-to-be-the-biggest-consumer-of-IoT-devices-in-the-planet-in-five-years-Nasscom/articleshow/47643246.cms">advent of Internet of Things</a>. We saw MI and <keyword id="6486191" type="UNKNOWN" weightage="100" keywordseo="Fitbit">Fitbit</keyword> pushing in a big way during the holiday seasons. Indian startups like SenseGiz, GetActive, Fin, Lechal have been early movers in the Indian wearables space, but they will now have to brace-up for stiff competition from global brands. Smart Grid has been slow to take off, with one major deployment in State of Maharashtra. But, cell phone based agriculture pumps and GPS enabled telematics for fleet management especially for cabs and school busses have seen good deployment. 
 Looking at the trends, consumer <keyword id="1967280" type="ORGANIZATION" weightage="100" keywordseo="IoT">IoT</keyword> grew at a faster pace than the industrial IoT. 
 
Analog Devices played a major role in the growth. Somshubhro Pal Choudhury, MD, Analog Devices India, talks about the <a href="http://www.businessinsider.in/Here-iswhy-India-should-keep-evolving-for-IoT-era/articleshow/48694789.cms">Indian scenario</a>, trends, global scenario, some predictions of 2016 and the next big thing in IoT. 
 
1. Where is the world positioned in the IoT space? 
 
IoT is making descent <a href="http://www.businessinsider.in/Rise-and-rise-of-Internet-of-Things-in-India/articleshow/47643581.cms">progress across multiple verticals globally</a>, albeit at different pace for each. 
 
Below are a few examples of different market verticals and how IoT is shaping up in these verticals. 
 
• Smart Watches and Wearable – This vertical has taken off with wide range of fitness gadgets and smart watches. The volume is in consumer centric gadgets today. The market for remote healthcare and disease management and tracking with clinical grade devices is slower to emerge. 
 
• Smart Homes and Appliance - There are varied use cases. The driver for <a href="http://www.businessinsider.in/5-must-have-smart-home-appliances-for-an-efficient-hassle-free-life/articleshow/47528817.cms">Smart Appliances</a> is primary returns, warranty and scheduled maintenance more than anything else. The dream of Smart Homes has been on the radar for more than 2 decades now, but it will still be only for high-end homeowners who can afford it. 
 
• Smart Meters/Smart Grid - Already close to 50% of the homes in US have smart meters and Europe is deploying in a huge way. Asia is slow in adoption. In India it has happened only in the state of Maharashtra for a large scale deployment of the tune of 3M meters. 
 
• Smart Buildings- Focus is more on energy management and security. We are seeing active deployment of energy management scenarios with automated HVAC and lighting control based on occupancy worldwide. 
 
• Transportation – Mostly focused on fleet management of cars, trucks, busses via telematics. Several consumer centric gadgets and IoT solutions are available all around the world today in terms of plugging into the OBD2 port of the car and analytics to understand and schedule maintenance. 
 
• Smart City - Primary driver would be Smart lighting to reduce energy usage first and foremost followed by security/surveillance. There is a big push worldwide to move to LED street lights and connected smart lights will give additional benefits along with this LED switchover. 
 
• Industrial Automation – It would be a slow start in terms of IoT getting into the current Industrial Automation systems, but monitoring of the equipment to predict failure, asset tracking etc. are already starting to happen in a large way. 
 
2. Where is India positioned in the space? 
 India has two plays in IoT. First, the business opportunities of <keyword id="3190305" type="UNKNOWN" weightage="100" keywordseo="IoT-in-India">IoT in India</keyword> and second is talent availability and ecosystem that is being leveraged globally. 
 
IoT business opportunities in India are just starting. Consumer has been a slow start compared to the other developed countries. 
From an India context, here is a quick analysis of the potentials moving forward. 
 
 
 
From an ecosystem and talent standpoint, IoT ecosystem in India is illustrated in Figure below. The Ecosystem for IoT in India has exploded in India, comprised of large Industry MNC OEMs, the IT Services Houses/Systems Integrators and Startups supported by other entities. 
 Almost all the major MNCs with design centers in India are doing IoT development from India. Significant portion of software, cloud, embedded software and systems integration work are being done out of India owning to the readily available talent base. Few companies have taken the initiative of running the entire IoT engineering from India like Analog Devices., whereas companies like Cisco have the <keyword id="6377036" type="UNKNOWN" weightage="100" keywordseo="smart-cities">Smart Cities</keyword> initiatives being run from India. All <a href="http://www.businessinsider.in/IT-and-Telecom-lead-Novembers-Job-Market/articleshow/50187803.cms">IT and systems integration</a> houses have an active ‘IoT Practice’ group now, focused on IoT enabled top-line or bottom-line growth for their customers. The opportunities Business Transformation with IoT woukd take off like it happened with IT and Business processes in the last 2 decades with India at the forefront. The IoT community has imbibed India’s rapid transformation into a startup nation and 200+ startups could be broadly classified under IoT Service, IoT Components, IoT Platforms and Design Services. The ecosystem has a strong IoT enthusiast community, the second largest after Silicon Valley. Indian Electronic Semiconductor Association (IESA), and The Indus Entrepreneurs (TiE), Bangalore are holding regular IoT Information, assistance, funding and mentorship sessions. IOT and hardware focused incubators are getting active and Department of Electronics and Information Technology (DeiTY) has come up with IoT vision document for IoT in India. 
 
3. When will we see an IoT boom in India? 
 
The ecosystem and talent boom is already happening as mentioned above. In terms of deployment and proliferation of IoT in a large scale, it would still take a few years. While the automation of rural pumps and telematics for fleet management and security are already happening, the Smart City security and LED Street light would probably come next along with energy management in commercial and retail spaces. We are hoping that the new factories for #MakeInIndia would be Smart Factories but it is likely that equipment and services business might go to global player’s more than Indian ones. We are also starting to see the need for Pollution monitoring, even monitoring the color of the smoke that is coming out from the chimneys. 
 
The IOT enabled business models are changing in a big way from CAPEX to OPEX, more a services business. This plays to the strength and DNA of India. We love to play in the pay as you go model with opex and that creates a lower barrier to entry. Still somebody has to pay for the Capex and currently this funding is the missing piece. 
 
4. What is holding it back? 
 
A range of opportunities now open up in terms of monitoring different situations in industries, retail etc. and the first thing that needs to be done is education about the possibilities and then a Return on Investment calculation. The next phase is usually a pilot followed by evaluation and deployment. In that case it is no different than any buying pattern for any B2B sale. I would re- iterate to the myriad of IoT companies in India that IOT as not a unique technology and solution, but in essence culmination of different technologies and solutions that have been developed over the past decade, bringing them together in the most cost effective way which will solve a business problem (increase revenue, new business models or reduce cost) at a fraction of the original cost. That is why I believe the systems integrators and the IT houses that have so successfully embarked India on the IT world map, would have a major play in IoT globally. 
 
5. What is the next big thing in IoT? 
 
We will be hearing more about successful deployments of IoT in 2016 compared to the promise of use cases and a range of pilots that are currently ongoing. We now know about the possibilities with IoT. It is now a question of running Return on Investment calculations, doing a pilot and finally deploying it in large scale, on a case by case basis, from vertical to vertical. 
 
6. What are the factors that are driving the space in the world? 
 
The concept of IoT is not a new. Smart Metering has been active for the last 10 years and Analog Devices has close to 40M meters with Radio enabled smart meters globally deployed. What we are seeing now is that all the components of IoT like sensors, edge node, connectivity, gateway, cloud infrastructure, data analytics solutions etc. readily available, have come down incredibly in cost, development tools and solutions exist and it has become fairly easy to provide a fully integrated sensor to the cloud solution at a low price point up and running in a short time frame. So the business case for an IoT enabled solution is far easier now and talent exists to bring the solutions together rapidly. 5 years back, the same solution would have cost 10X more and implementation time would be 10X more. The other most interesting driver is now with all monitoring of the data, the business models are changing from Capex to Opex with a services centric approach and this is true business innovation enabled by technology. 
 
7. How is the Indian IoT space different than global IoT space? 
 
Adoption of IoT in India will follow the same principles of ROI calculation for each case. In India it would be easier to get customers on an opex based services model, provided investors can fund the actual deployment. The ROI for IoT in India needs to be measured differently compared to the developed world. The term coined by IOPT – Internet of People and Things is more relevant here. While in developed countries, IOT to get data from the field will require a wireless sensor network and automated collection of data on a regular basis as labor is so expensive. In India, what we need is cheap sensors, connected to mobile phones and a way to manage a labor pool to regularly get data on the vital conditions. A mobile and people based approached would work best in India. 
 
(Image credits: Indiatimes, Analog Devices India)

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