Tirupati EMC to host Rs. 468-crore chip unit
The semiconductor unit will be established by Advanced System in Package Technologies (ASIP) with an initial investment of Rs 468 crore.
ASIP's facility will have initial capacity to produce 9.6 crore chips annually, catering to applications in mobile devices, set-top boxes, automotive electronic control units, and household electronics items.
The Andhra Pradesh government, in a letter sent to ASIP on Monday, formally invited the company to set up its operations in the state and outlined a package of incentives for the firm.
According to official sources, ASIP has given its consent and has plans to scale its investment over time to Rs 1,500 crore. To attract the project, the state government has offered a 25 per cent capital subsidy, land at nominal cost, a Rs 1.50 per unit electricity subsidy for five years, electricity duty exemption for the same period, a five-year interest subsidy on term loans, and full State GST reimbursement for five years.
ASIP's consent was subsequently communicated to the Centre, which granted its approval, clearing the way for the unit's establishment at the Tirupati EMC.
The venture marks a significant push in the state's strategy to balance its tech footprint—focusing on software investments in Visakhapatnam as well as Amaravati and positioning Rayalaseema as an electronics manufacturing hub. Tirupati was declared an electronics cluster between 2014 and 2019, and the new semiconductor unit is expected to accelerate investments in this sector.
ASIP Technologies, partnered with South Korea's Apact Company Limited, will be the latest high-profile occupant of the EMC. The cluster, developed under the Ministry of Electronics and Information Technology's (MeitY) EMC scheme, already hosts major players like Dixon Technologies and Celkon in EMC-1, while EMC-2 has attracted investments from companies such as TCL and Sunny Opotech.
The arrival of the semiconductor unit is expected to strengthen the electronics ecosystem in Tirupati, drawing in both domestic and foreign investors and leveling up India's position in the global semiconductor supply chain.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
India.com
27 minutes ago
- India.com
Gold, Silver Prices Remain Range-Bound As Investors Await US-Russia Meet Outcome
New Delhi: Gold and silver traded in a narrow range on Thursday, with gold prices holding above the Rs 1 lakh mark per 10 grams, while silver slipped below Rs 1.15 lakh per kg. According to data released by the India Bullion and Jewellers Association (IBJA), the price of 24-carat gold declined by Rs 74 to Rs 1,00,023 per 10 grams from Rs 1,00,097 per 10 grams a day earlier. Prices of 22-carat and 18-carat gold fell to Rs 91,621 and Rs 75,017 per 10 grams, respectively. Analysts said investors are awaiting the outcome of the scheduled meeting between the US and Russia on August 15, keeping gold prices range-bound. Weakness in the US dollar, however, is providing some support to the yellow metal. Silver prices also saw a drop, with rates falling Rs 342 to Rs 1,14,933 per kg over the past 24 hours. IBJA releases spot market prices for gold and silver twice a day. On the Multi Commodity Exchange (MCX), gold's October 3, 2025, contract edged up 0.04 per cent to Rs 1,00,227, while silver's September 5, 2025, contract settled 0.22 per cent lower at Rs 1,14,772. In the international market, prices on Comex were also under pressure, with gold down 0.12 per cent at $3,404 per ounce and silver falling 0.61 per cent to $38.36 per ounce. "Gold traded sideways near $3,355 on Comex and Rs 1,00,280 on MCX as market participants awaited the crucial US–Russia meeting on August 15 over Russia-Ukraine peace talks, a war that has persisted for years," said Jateen Trivedi of LKP Securities. Dollar weakness has lent support to gold, while ongoing tariffs on various countries have also underpinned its strength. Overall, gold remains positive as long as $3,280 is held. The range for gold is seen between Rs 99,000–Rs 1,01,500, Trivedi added.
India.com
27 minutes ago
- India.com
Vodafone Idea's Net Loss Widens To Rs 6,608 Crore In Q1
Mumbai: Vodafone Idea's losses grew in the June 2025 quarter (Q1 FY26) as the telecom operator reported a net loss of Rs 6,608 crore, compared to Rs 6,432 crore in the same period previous fiscal (Q1 FY25). However, the company's revenue from operations rose 5 per cent to Rs 11,023 crore, up from Rs 10,508 crore in the year-ago quarter, according to its stock exchange filing. The company's average revenue per user (ARPU) increased to Rs 177 during the quarter, compared to Rs 154 in Q1 FY25 -- marking a 15 per cent year-on-year (YoY) rise. Its earnings before interest, taxes, depreciation and amortisation (EBITDA) stood at Rs 4,612 crore, up 10 per cent from Rs 4,205 crore a year earlier. The EBITDA margin improved to 41.8 per cent from 40 per cent in the same period previous financial year. Vodafone Idea CEO Akshaya Moondra said the quarter marked a decisive turnaround for the company. He noted that investments made in the past three quarters to expand 4G coverage have started showing results, with subscriber losses down 90 per cent compared to Q2 and Q3 of last financial year -- the lowest decline since the merger. "This has been a decisive turnaround quarter. The investments made over the past three quarters to expand our 4G coverage have started yielding results, as reflected in the 90 per cent lower subscriber loss compared to Q2 and Q3 of last financial year, being the lowest subscriber decline since merger,' Moondra stated. The company has launched 5G services in 22 cities across 13 circles and plans to expand further in line with the rising adoption of 5G-enabled smartphones. Data usage has reached record levels, driven by the popularity of its SuperHero and Non-stop SuperHero plans. Moondra added that Vodafone Idea is continuing to invest in capital expenditure and, to meet its broader plans of Rs 500–550 billion, is in talks with lenders to secure debt funding.
Time of India
29 minutes ago
- Time of India
If Mahatma Gandhi wasn't India's first choice for banknotes then how did he become Rupee's forever face?
Walk into any shop in India, hand over a crumpled banknote, and you'll see a familiar face smiling back, bespectacled, serene, and instantly recognisable. Mahatma Gandhi doesn't just appear on our currency; he has become a quiet constant in our daily exchanges, silently passing through millions of hands each day. But the story of how he ended up there is far from straightforward. In fact, in the first flush of independence, Gandhi's portrait was rejected for Indian notes. Independence Day 2025 Before Trump, British used tariffs to kill Indian textile Bank of Azad Hind: When Netaji gave India its own currency Swadeshi 2.0: India is no longer just a market, it's a maker Midnight on 14 August 1947 brought independence, but not yet a new currency. For a brief period, the Reserve Bank of India (RBI) continued issuing colonial notes bearing King George VI. Behind closed doors, discussions began on what a truly Indian banknote should look like. The early idea was simple, replace the King's portrait with that of the Father of the Nation. Designs were prepared with Gandhi's image. Then came a surprising turn. As the RBI recounts, the 'final analysis' shifted towards a non-personal symbol, the Lion Capital of Ashoka at Sarnath. It was felt this emblem, drawn from India's ancient heritage, better captured the idea of a modern republic. So, in 1949, the new Re. 1 note appeared with the Lion Capital watermark, and Gandhi's portrait was shelved. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like This Could Be the Best Time to Trade Gold in 5 Years IC Markets Learn More Undo In the following decades, Indian notes became miniature showcases of the country's identity and ambitions. Tigers, deer, and peacocks symbolised natural heritage. The Konark Wheel, Brihadeeswara Temple, and Hirakud Dam spoke of cultural pride and industrial progress. The Aryabhatta satellite hinted at a future in science and space. Currency in the 1950s and 60s was not about a single leader, it was about the nation as a whole. Gandhi's First Appearance (1969) It wasn't until Gandhi's birth centenary in 1969 that he made his first official appearance on a banknote. This commemorative design showed him seated, with Sevagram Ashram in the background, a gentle nod to his life of simplicity and service. The issue was special and short-lived, not yet a permanent feature of Indian currency. Live Events The real turning point came in 1987. The Rajiv Gandhi government reintroduced the Rs 500 denomination, and for the first time on a regular note, Gandhi's portrait appeared on its obverse. Still, he wasn't on every note. That came in 1996, when the RBI launched the Mahatma Gandhi Series, redesigned notes with improved security features and, for the first time, Gandhi's smiling face on all denominations. In 2016, the 'New Series' kept Gandhi firmly in place while refreshing colours, sizes, and themes. From Rs 10 to Rs 2,000, he had become inseparable from the rupee. Other Faces, Other Ideas Over the years, there have been calls to share this space. Some have suggested Jawaharlal Nehru, Subhas Chandra Bose, Sardar Patel, or even religious figures like Goddess Lakshmi and Lord Ganesha. In 2016, the government clarified that a high-level committee had decided 'there is no need to change Mahatma Gandhi's photo on the currency notes.' Others have been honoured in different ways, Dr B. R. Ambedkar, for instance, was commemorated with special Rs 125 and Rs 10 coins. In 2022, a proposal from the Aam Aadmi Party to add Lakshmi and Ganesha sparked debate, with supporters citing prosperity and detractors warning against politicising or communalising currency design. The Inescapable Mahatma For all the discussion, Gandhi remains unshaken on our notes. As Martin Luther King Jr. once said, 'Gandhi was inevitable… we may ignore him at our own risk.' On the rupee, his presence is more than decoration, it's a reminder of the values he championed: truth, non-violence, and unity in diversity. Every time we pass a note across a counter, we're not just exchanging money. We're handing over a piece of history, one that almost didn't have Gandhi's face, but now, perhaps fittingly, cannot be imagined without it.
