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New Delhi: After meeting Prime Minister <keyword id="19895781" type="General" weightage="20" keywordseo="narendra-modi" source="keywords">Narendra Modi</keyword> ahead of the <keyword id="21272963" type="General" weightage="100" keywordseo="semicon-india-2024" source="Orion">Semicon India 2024</keyword> Summit, <keyword id="20137945" type="General" weightage="20" keywordseo="sanjay-mehrotra" source="keywords">Sanjay Mehrotra</keyword>, CEO of Micron, appreciated PM Modi's vision of developing semiconductors in India and said policies set up by him to incentivise semiconductor manufacturing in India are also very exciting. "PM Modi's vision to develop semiconductors in India and make it self-reliant is very exciting. The policies set up by him to incentivise semiconductor manufacturing are equally exciting. This is the perfect time for India to develop semiconductors because opportunities will grow with AI. The best is yet to come," Mehrotra said ahead of SEMICON India 2024 Summit. PM Modi will inaugurate SEMICON India 2024 at India Expo Mart, Greater Noida, Uttar Pradesh, today. Earlier on Tuesday, PM Modi chaired Semiconductor Executives' Roundtable at his residence. During the meeting, the Prime Minister said that their ideas will not only shape their business but also India's future. Mentioning that the coming time will be technology-driven, Prime Minister said semiconductor is the basis of the Digital Age and the day is not far "when the semiconductor industry will be the bedrock for even our basic necessities". The Prime Minister emphasised that democracy and technology together can ensure the welfare of humanity and India is moving ahead on this path recognizing its global responsibility in the semiconductor sector. According to an official release, the Prime Minister talked about the pillars of development which include developing social, digital and physical infrastructure, giving boost to inclusive development, reducing compliance burden and attracting investment in manufacturing and innovations. The meeting was attended by CEOs, Heads and representatives of various organisations including SEMI, Micron, NXP, PSMC, IMEC, Renesas, TEPL, <keyword id="23116584" type="General" weightage="20" keywordseo="tokyo-electron-ltd" source="keywords">Tokyo Electron Ltd</keyword>, Tower, <keyword id="19920144" type="General" weightage="20" keywordseo="synopsys" source="keywords">Synopsys</keyword>, Cadence, Rapidus, Jacobs, JSR, Infineon, Advantest, Teradyne, Applied Materials, Lam Research, Merck, CG Power and Kaynes Technology. Also present in the meeting were Professors from Stanford University, University of California San Diego and IIT Bhubaneswar. SEMICON India 2024 is being organised from 11 to 13 September with the theme "Shaping the Semiconductor Future." The three-day conference will showcase India's semiconductor strategy and policy, which envisions making India a global hub for semiconductors. It will witness the participation of top leadership of global semiconductor giants and will bring together global leaders, companies, and experts of the semiconductor industry. The conference will witness participation of more than 250 exhibitors and 150 speakers.

Semicon India 2024: This is perfect time for India to develop semiconductors, says MICRON CEO Sanjay Mehrotra

<ul><li>The global $450 billion <keyword id="145965" type="TECHNOLOGY" weightage="20" keywordseo="semiconductors">semiconductors</keyword> industry got blindsided — due to the global pandemic — after a massive demand for semiconductors.</li><li>The crunch led to supply chain issues as the industry relied on a few giant players.</li><li>Ford, Nissan, Volkswagen, Fiat Chrysler and Toyota were some of the top automakers that curtailed production amid a global semiconductor shortage.</li><li>Operations of mobile manufacturers Lava and Micromax were almost stuttered to a halt after its <keyword id="423461" type="PERSON" weightage="20" keywordseo="chipset">chipset</keyword> supplier, MediaTek, ran out of stock.</li></ul>A few months back, when the companies worldwide started recovering from the pandemic-hit lows, they had no idea that another challenge was waiting for them. From electronic appliance makers to car manufacturers and mobile makers — all had to hold back the production after the $450 billion industry for semiconductors got ravaged by the after effects of the Covid-19 pandemic. A massive surge in demand for consumer electronics, globally, due to work from home practices adopted by firms and a sharp uptick in personal vehicle sales amid the virus fear caused the crisis. The semiconductors form the DNA of a wide variety of new-age gadgets like smartphones, computers, industrial equipment and cars. They are also sought for emerging markets of AI, computing and advanced wireless networks. <cmsannotation type="cmsannotation" annotationid="Manufacturers had to shut production plants" comment="subhead" text="Manufacturers had to shut production plants">Manufacturers had to shut production plants</cmsannotation> This could not have come at a worse time for the beleaguered businesses — which just began to show the signs of recovery, and the sales were beginning to rebound after a torrid first half. In December, India's largest automotive components maker Robert Bosch was grappled with challenges<a href="https://www.bloombergquint.com/business/bosch-india-flags-severe-shortage-of-critical-components-to-indian-automakers"> after a severe shortage</a> of imported components, hampering its ability to cater to the automotive market demand in the fifth largest automobile market worldwide. Just days after Bosch, One of India's largest automakers Mahindra &amp; Mahindra, <a href="https://qz.com/india/1959077/ford-india-mahindra-mahindra-hit-by-semiconductor-shortage/">said </a>it was bracing itself after the recent disruption caused by the industry's semiconductors shortage. "Operations of the company in the automotive sector will be affected by global supply shortage of micro-processors (semiconductors) used in electronic control units (ECUs) which are supplied by Bosch," automaker Mahindra said in a <a href="https://qz.com/india/1959077/ford-india-mahindra-mahindra-hit-by-semiconductor-shortage/">statement</a>. Ford, Nissan, Volkswagen, Fiat Chrysler and Toyota were some of the top automakers that curtailed production amid a global semiconductor shortage. The shortage impacted production in other industries too, such as smartphones and electronics. Operations at mobile manufacturer Lava and Micromax were almost stuttered to a halt<a href="https://economictimes.indiatimes.com/industry/telecom/telecom-news/mediatek-to-resolve-chipset-shortage-in-india-says-chairman/articleshow/79672229.cms?from=mdr"> after its chipset supplier MediaTek </a>ran out of stock. The chip shortages also forced Apple to push back the rollout of its latest lineup of iPhones until early November. <cmsannotation type="cmsannotation" annotationid="What are semiconductors, and why did companies run out of them in 2020?" comment="subhead" text="What are semiconductors, and why did companies run out of them in 2020?">What are semiconductors, and why did companies run out of them in 2020?</cmsannotation> Semiconductors are typically silicon chips that perform control and memory functions in products ranging from computers and cellphones to vehicles and microwave ovens. The world saw an unprecedented demand for servers, internet connectivity and cloud usage as online collaboration grew massively during work from home. And according to the EY report, the semiconductors industry was already facing a demand-supply crisis and the delay in imports from China after the Indo-China clash at the Galwan Valley added fuel to the fire. The OEM’s faced <a href="https://www.thehindu.com/business/Economy/ladakh-face-off-industry-flags-delay-in-china-imports/article31918011.ece">massive supply chain issues</a> after the government implemented curbs on imports from china. The industry also relied on a few global players — which led to the crisis after a huge demand surge. China and Taiwan own a significant portion of the semiconductor manufacturing market in the world. “Semiconductor manufacturing is a complex global intertwined ecosystem, which has led to a supply chain that is vulnerable to macroeconomics, geopolitics and natural disasters,” the report added. The auto industry is using more semiconductors than ever before in new vehicles with electronic features such as Bluetooth connectivity and driver-assist, navigation and hybrid-electric systems. According to data research firm International Data Corporation (IDC) forecasts that globally, the mobile phone semiconductor revenues will grow by 11.4% in 2021 to $128 billion. Here’s how the demand for semiconductor stacks up around industries in India <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Category </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Demand Share </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total Value </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Communication </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">33% </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$136 billion </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Computer </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">28.50% </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$117 billion </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Consumer </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">13.30% </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$54.7 billion </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Automotive </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">12.20% </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$50.2 billion </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Industrial </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">11.90% </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$48.9 billion </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Government </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.30% </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$5.2 billion </td></tr></tbody></table>Source: Semiconductor Industry Association, 2020 <cmsannotation type="cmsannotation" annotationid="Can you set up a chipset business in India?" comment="subhead" text="Can you set up a chipset business in India?">Can you set up a chipset business in India?</cmsannotation> The EY report highlighted that the semiconductor manufacturing process requires unique and sometimes scarce raw materials and chemical substances. Due to their unique and specialised character, these tend not to be widely available and can sometimes only be mined in conflict areas. The scarcity of semiconductors in the past few months brutally exposed India's original equipment manufacturers' soft underbelly — their heavy reliance on imported components. The government has also introduced an ambitious production-linked incentive (PLI) schemes to encourage in-house production. The most important here is semiconductors or chips that form the central component of items from auto to laptops and mobile phones — as the current disruptions showed, it is an area where we can ill-afford to depend on others. <div type="image" title="Capture" msid="81137751" hostid="261"></div> Although the country has developed expertise in chip designing, it still lacks fabrication facilities, requiring huge investments. Microprocessor chips are produced in high technology facilities called semiconductor fabrication units or simply FAB units. India currently has a limited number of fabless startups and companies with state-of-the-art R&amp;D centres focusing on chip design. <a href="https://www.deccanherald.com/business/is-semiconductor-manufacturing-in-india-an-unworkable-project-863338.html">Reports</a> indicate that semiconductor fabs have investments starting around $8 billion, and the numbers climb rapidly. The business also requires hefty running costs, and technology needs to be upgraded typically every 3-4 years. This wouldn’t be the first time India would try to build semiconductors fabrication units. Earlier in 2006, a <a href="https://www.business-standard.com/article/companies/semindia-infosys-may-sign-mous-with-andhra-today-106021601088_1.html">Bangalore-based SemIndia signed a contract </a>with the Andhra Pradesh government to set up a wafer manufacturing unit. For which, it was allocated 1,200 acres of land, but the $3 billion project could not take off. The government suffered a loss of ₹300 crore. 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India needs chipset manufacturers — lots of them. Here is why.

<ul><li>The government has passed a ₹76,000 crore ($10 billion) incentive scheme for semiconductors, which will strengthen India’s manufacturing base in making semiconductor chips.</li><li>Also, about 85,000 semiconductor engineers would be supported over the course of the next 20 years.</li><li>The development comes at a time when many companies across the world have been suffering from a chip shortage for so long now.</li></ul>Finally, some of the semiconductor shortage will hopefully ease after the Indian government announced an ambitious production-linked incentive (PLI) scheme worth ₹76,000 crore (around $10 billion at current rates) for establishing a semiconductor ecosystem in the country. The development comes at a time when auto majors and several other companies using chips in their products across the world have been suffering from a chip shortage for so long now. Semiconductor chipsets are used across a wide range of consumer electronics, including smartphones, laptops, computers, cars, smart home appliances like lights, fans and many other things. There are many semiconductor manufacturers across the world, but very few are listed in the Indian market. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Indian semiconductor companies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Stock price change on December 15 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Moschip Technologies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+9.96% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ASM Technologies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+4.99% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SPEL Semiconductor </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+4.85% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ruttonsha International Rectifier </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+4.97% </td></tr></tbody></table> This is not the first time that the government has announced a PLI scheme for the electronics industry. Earlier last year, a <a href="https://www.businessinsider.in/policy/economy/news/inside-indias-50000-crore-scheme-to-woo-electronics-manufacturing-including-smartphones/articleshow/76207462.cms">₹50,000 crore PLI scheme</a> was announced to woo electronics manufacturing, including smartphones. Following Wednesday’s announcement, Nifty Auto was the only gainer amongst all other sector indices that were in red in line with the volatile market. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Auto companies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Price change on December 15 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TVS Motor </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+1.4% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Maruti Suzuki </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+0.91% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hero MotoCorp </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+0.85% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mahindra &amp; Mahindra </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+0.85% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Auto </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+0.34% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tube Investments of India </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+0.25% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ashok Leyland </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+0.24% </td></tr></tbody></table> P.N. Sudarshan, partner and technology, media, and telecom (TMT) Industry Leader at Deloitte said that, “While this initiative may ameliorate the situation in the medium term, this is even better in the long-term as this would spur the semiconductor manufacturing segment. That would provide opportunities both for import substitution and export propulsion.” Leaders from the industry believe the move will prevent future semiconductor shortages. “In the long-term, issues like sudden surge in demand for semiconductors will also be addressed. This move will also make the Indian manufacturers globally competitive to attract investment in the areas of core competency and cutting-edge technology,” said Sanjay Gupta, managing director at NXP India. 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Checkout chip makers’ stocks that surged on PLI scheme; industry leaders feel the move will make India self-reliant

<keyword id="145965" type="TECHNOLOGY" weightage="20" keywordseo="semiconductors">Semiconductors</keyword> is one space which has not taken off in India yet. Blame it on the inability to compete with the cost structures in the existing markets, or the lack of focus by the Indian government on this sector. However, with the market being strong, and people wanting to do more electronic manufacturing in India - this can definitely help in setting up an eco-system. 
 
Just ahead of the Budget, we spoke to NXP semiconductors Ashok Chandak, Sr. Director Global Sales and Marketing, to learn the challenges this sector is facing in India, and therefore its expectations from the upcoming Budget. Here’s what he had to say: 
 “Owing to the rising interest of businesses in the Internet of Things, Connected Cars, Security and wearable computing, the electronics and semiconductor industry is growing rapidly. With initiatives like “Make in India” and “Digital India”, the country has observed an accelerated interest in localising the designs and manufacturing in ESDM space over the last 12 months along with other sectors. Several Indian and Global companies are showing a good amount of interest to setup the operations in India as Import still constitutes over 65% of the total electronic goods demand in India. With the trend of major reduction in Exports from India, the initiatives to reduce import duty burden on electronics will help the <keyword id="6368276" type="COMPANY" weightage="20" keywordseo="Foreign-exchange">foreign exchange</keyword> reserves and also currency stability. 
 However, the momentum needs to be sustained with policy aggravation at various levels of manufacturing, operations and business. Therefore, Budget 2016 is highly awaited where everyone is expecting policy level improvements to expedite growth. Manufacturing is key government focus and hence, it is important to rationalize Import Duty to promote the on-ground manufacturing and not just assembling. This will enable greater access to better technology and will be a huge enabler to the ESDM industry to help provide superior technology to a wider audience at more competitive rates. With innovation and design being at the core of ‘Make in India’, we believe the government should promote R&amp;D benefits to encourage more innovations from India and preference to Made in India products. Investment allowances for IT adoption can promote India as a premiere destination for both hardware and software development and hence, requires attention from the government. Early introduction of GST is also expected to bring a uniform <keyword id="6383566" type="PERSON" weightage="20" keywordseo="Taxation">taxation</keyword> standard across India, which in return will boost the commercial transactions in the country and benefit both corporations and consumers. 
 
Considering the large number of motor vehicle accidents in country, it is necessary to give major filip to the active safety. The regulations mandate on ABS , TPMS , Intelligent Transportation systems , Advanced driver assistance systems and Emission norms, would help to deploy technology and make the drives safer and more comfortable. Indian and global technology and auto companies are investing heavily to make ADAS and ITS a reality. While automakers are struggling with ways to protect their new and existing connected cars, there are technologies that can protect the privacy and security from the very start. The funding support for intelligent transport systems infrastructure and tax benefits for the ADAS , Digital Radio and Active Safety equipped vehicles would be very helpful in this direction. The government also needs to support promotion of the hybrid and electric vehicles and utilize technologies in order to promote innovation in the automotive space and reduce emissions in the country. 
 The Payment and <keyword id="34494" type="UNKNOWN" weightage="20" keywordseo="banking-industry">Banking industry</keyword> in India undergoing a major change in view of the major boom in e-Commerce and payment bank licences. While the security aspects have to be taken into account upfront. It is desirable to provide tax benefits for the cyber security, Secure Mobile Transactions, Chip based secure payment cards, Point of Sales terminals and infrastructures, to proactively address the end to end security needs of future and add to Make in India initiative. India is still struggling on the T &amp; D losses. The mandate on the Smart Metering and Smart Grid in addition to smart cities initiatives will help not only the T &amp; D losses but also help in having reliable and sufficient power to the citizens of the country. 
 
In summary , the Government need to provide benefits and encouragement for enabling secure connections and secure infrastructure for a smarter India and deployment of the technology solutions that make lives easier, better and safer.” 
 
(As told to Anushree Singh, Business Insider India)

More investment in this sector will
revolutionize the power sector and this is what it needs right now

<div class="KonaFilter image-container display-table"><div><div class="image on-image">Stephen Lam/ReutersFacebook Founder and CEO Mark Zuckerberg speaks on stage during the annual Facebook F8 developers conference in San Jose, California, U.S., April 18, 2017.</div></div></div><ul><li>The Chinese government has withdrawn its approval for Facebook to launch a new venture in the country.</li><li>The California tech giant had been granted permission to create a subsidiary on Tuesday.</li><li>It said it wanted to launch an "innovation hub" for local Chinese startups.</li><li>Facebook's main social network remains banned in China.</li></ul> Facebook's plan for a new venture in China has ended before it even begun.The Chinese government has withdrawn its approval for the California tech company's plan to launch a subsidiary in the eastern province of Zhejiang, <a href="https://www.nytimes.com/2018/07/25/business/facebook-china.html">The New York Times reported on Wednesday, citing a person familiar with the matter</a>.Facebook had said on Tuesday <a href="https://www.businessinsider.com/facebook-creates-china-subsidiary-ban-censorship-2018-7">it planned to create an "innovation hub" to support local start-ups</a>. The new subsidiary was registered in Hangzhou, according to a filing approved on China's National Enterprise Credit Information Publicity System last week and seen by Reuters on Tuesday.A Chinese government database showed that Facebook had gained approval to open a subsidiary - but that registration has since disappeared. Facebook could not be immediately reached for comment.The decision to take down the approval came after a disagreement between officials in Zhejiang and the national internet regulator, the Cyberspace Administration of China, which was angry that it had not been consulted more closely, according to the New York Times.The Chinese internet regulator was not immediately available for comment. Other Chinese officials could not be reached outside business hours.Facebook's planned venture in China was similar to what it did in other countries: Station F in France, Estacao Hack in Brazil, Tech Hub launch in India and Innovation Hub in Korea."Having a wholly foreign-owned enterprise does not change our approach in China," a Facebook spokesperson said on Tuesday after announcing the venture. "We are still understanding and learning the various approaches on what it takes to be in China.""If China blocks this move by Facebook it's another shot across the bow at U.S. tech companies as this tariff battle heats up between China and the Beltway, coupled by the Qualcomm-NXP saga continuing," GBH Insights analyst Daniel Ives said.Facebook is the latest company to get caught in the crosshairs of rising U.S.-China trade tensions. U.S. chipmaker Qualcomm's proposed bid to buy NXP Semiconductors NV has also got stuck awaiting approval from Chinese regulators.Facebook's website remains banned in China, which strictly censors foreign news outlets, search engines and social media including content from Twitter and Google. Its messaging app WhatsApp is also blocked in the country.Shares of Facebook pared most of their gains to trade marginally up at $215.34, after touching a record-high earlier in the session. The company is due to report quarterly results after the closing bell. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/nsa-hacker-5-ways-to-protect-yourself-online-2018-7">5 easy ways to protect yourself from hackers</a></h3> <div> </div> </div>

China has withdrawn approval for Facebook's new venture in the country, where it remains banned

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><a href="http://pictures.reuters.com/C.aspx?VP3=SearchResult&amp;ALID=2C0BF1FQ4KFSK#/SearchResult&amp;ALID=2C0BF1FQ4KFSK&amp;VBID=2C0BX47NF8WF&amp;POPUPPN=12&amp;POPUPIID=2C0BF1FQ8PPDD">Reuters/Reuters Staff</a>Children playing amid icebergs on the beach in Nuuk, Greenland.</div></div></div>Here is what you need to know.<a href="http://www.businessinsider.com/german-10-year-Bund-yield-drops-below-zero-for-the-first-time-in-history-2016-6?r=UK&amp;IR=T">Germany's 10-year yield turned negative</a>. The yield on the 10-year German Bund fell below zero for the first time in history (yields fall when prices rise). Tuesday's drop below zero comes amid a renewed demand for safety assets as fears of a slowing global economy and the possibility of a British exit from the European Union, known as Brexit, weigh on investor confidence.<a href="http://www.businessinsider.com/pound-dives-on-june-14-after-brexit-polls-2016-6?r=UK&amp;IR=T">The pound is getting slammed on Brexit worries</a>. The British pound is lower by 0.7% at 1.4168 after a poll conducted by ICM on behalf of The Guardian showed 53% for Leave and 47% for Remain. Additionally, The Sun, which has the largest circulation of any physical newspaper in British, has come out in favor of a Brexit. It should be noted The Sun has a great track record in general elections and has always backed the winner.<a href="http://www.businessinsider.com/uk-inflation-numbers-from-ons-may-2016-6">UK inflation missed</a>. Consumer prices in Britain rose 0.3% year-over-year in May, according to the Office for National Statistics. The May reading was unchanged from April and just shy of the 0.4% gain that was expected. Stripping out food and energy prices, core CPI held at 1.2% YoY.<a href="http://economictimes.indiatimes.com/news/economy/indicators/wholesale-inflation-up-for-2nd-month-rises-to-0-79-in-may/articleshow/52742953.cms">India WPI inflation picks up</a>. The wholesale price index rose to 0.79% in May, up from 0.34% in April, government data showed. The Economic Times reports that food inflation was a big contributor to the upswing, rising to 7.88% from 4.23%. Until last month, the reading had been in negative territory since November 2014, The Economic Times said. The Indian rupee ended down 0.2% at 67.2575 per dollar.<a href="http://www.reuters.com/article/us-iea-oil-idUSKCN0Z00RI">The IEA sees an oil surplus in 2017</a>. The International Energy Agency says the oil market will balance out in the second half of 2016 but will return to surplus in 2017, Reuters reports. "At halfway in 2016, the oil market looks to be balancing; but we must not forget that there are large volumes of shut-in production, mainly in Nigeria and Libya, that could return to the market, and the strong start for oil demand growth seen this year might not be maintained," the IEA said. West Texas Intermediate crude oil is lower by 1.4% at $48.20 a barrel.<a href="http://www.businessinsider.com/live-apple-wwdc-keynote-2016-6/?IR=T">Apple's WWDC had some big updates</a>. Apple's Worldwide Developers Conference took place on Monday in San Francisco. At the conference, Apple announced that its Apple Pay and Siri services are now available for desktops. Additionally, a major update to iOS was introduced, which will allow for new messaging options, emoji features, and lock screen and notification menus. Another feature unveiled was a new artificial intelligence for iOS that will allow the keyboard to predict what you are going to type.<a href="http://www.wsj.com/articles/nxp-semiconductors-to-sell-standard-products-unit-for-2-7-billion-1465859073">NXP Semiconductors is selling its Standard Products Unit</a>. The Chinese state-owned investment firm Jianguang Asset Management and the private-equity firm Wise Road Capital have agreed to buy NXP's Standard Products Unit for about $2.75 billion, The Wall Street Journal reports. The unit includes discrete, logic, and PowerMOS chips. <a href="http://www.businessinsider.com/draftkings-and-fanduel-merger-talks-2016-6?r=UK&amp;IR=T">Daily fantasy sports sites DraftKings and FanDuel are talking merger</a>. The two companies, worth over $1 billion each in 2015, are considering joining forces, according to Bloomberg. The companies have seen their valuations plummet by as much as 50% because of legal battles in numerous states. A merger would allow the two companies to reduce the amount of money spent on targeting one another, Bloomberg says.Stock markets pretty much everywhere are in the red. France's CAC (-1.4%) lags in Europe after Australia's ASX (-2.1%) trailed in Asia. China's Shanghai Composite (+0.3%) eked out a gain. Here in the US, S&amp;P 500 futures are down 2.50 points at 2,076.25.US economic data picks up. Import/export prices and retail sales will be released at 8:30 a.m. ET before business inventories crosses the wires at 10 a.m. ET. The US 10-year yield is down three basis points at 1.58%.

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