Latest news with #ElectronicsSystemDesignandManufacturing
Time of India
29-05-2025
- Business
- Time of India
Karnataka: Cabinet committee clears sops for three semiconductor projects
Live Events A Cabinet subcommittee chaired by chief minister Siddaramaiah on Wednesday cleared incentives for the proposed investments of Applied Materials, Lam Research and Bharat Semi Systems The subcommittee cleared attractive incentives for the three projects, which would mark a decisive step toward making the state semiconductor powerhouse, IT/BT Minister Priyank Kharge told subject came before the cabinet subcommittee as these are mega as well as pioneering projects for the state, promising a boost to the state's tech ecosystem. Only the Cabinet or its subcommittee is empowered to clear if the government wished to give incentives over and above the state's ESDM (Electronics System Design and Manufacturing) Kharge said, was doubling down on its ambition to become a global semiconductor hub. Applied Materials, the minister said, will set up India's first-of-its-kind R&D Fab—Innovation Center for Semiconductor Manufacturing (ICSM)—in Bengaluru. Spread across 10 acres with Rs 4,851 crore project, he posted on X, would create 1,500 jobs and become a collaborative platform for next-gen chip and display Research would set up two units in Karnataka: an advanced R&D lab with an investment of Rs 6,790 Cr, and a semiconductor silicon component manufacturing facility with and investment of Rs 9,111 crore, creating 1400 jobs, delivering cutting-edge capabilities in 2nm technology and silicon ingot Semi Systems, Kharge said, will establish an integrated design manufacturing semiconductor unit including both a design plus Fab facility in Mysuru with Rs 2,342 crore. investment. It will focus on compound semiconductors like silicon carbide and gallium nitride—critical for defence, telecom and climate resilience creating 620 plus subcommittee meeting was attended by Kharge, Industries Minister MB Patil, energy minister KJ George, and small-scale industries minister SB Darshanapur.
Time of India
09-05-2025
- Business
- Time of India
UP, Gujarat rush to take part(s) in electronics race
Uttar Pradesh and Gujarat are working on incentive schemes to woo large-scale electronic component manufacturers to establish factories in their states. They join a race among several states—Tamil Nadu was among the first off the blocks--to attract investments after the Centre unveiled a Rs 23,000 crore package aimed at encouraging component manufacturers to invest in the country and strengthen its manufacturing Tamil Nadu programme unveiled last week aims to match the sops offered under the Centre's recently announced Electronics Component Manufacturing Scheme (ECMS).Gujarat is emerging as a hub for electronics and semiconductors with chip manufacturing and assembly plants by the likes of Micron, CG Power and Tata Electronics in various phases of development in locations such as Dholera and Sanand. 'We have submitted a draft policy for incentivising electronic component manufacturing in Gujarat for final consideration,' said Mona Khandhar, Gujarat's principal secretary, science and technology. 'Finer details can be divulged only once the state government approves the policy.' Uttar Pradesh is also chalking out a plan to capitalise on the advantage that it has in the space with Noida being an important upcoming hub for electronics manufacturing . The state 'is working on a draft of the policy which should come out in a few weeks,' said a person aware of the development. 'As it is in the drafting stage, more specifics cannot be provided at the moment.' Karnataka already includes electronic component manufacturing as a key element of its existing Electronics System Design and Manufacturing (ESDM) policy. 'We might make some tweaks and additions to the policy in light of the latest developments but it is a competitive policy as it stands,' said Gunjan Krishna, Karnataka commissioner for industrial development. 'The subject matter gets covered even by the new industrial policy.' Several other states are studying the landscape and contemplating their own policies. 'Following Tamil Nadu's swift rollout of ECMS-specific support, a competitive momentum has emerged among states to boost electronics manufacturing within their borders,' said Ashok Chandak, president of the India Electronics and Semiconductor Association (IESA). 'In addition to early movers like Tamil Nadu, Gujarat, and Uttar Pradesh, states such as Madhya Pradesh, Odisha, Chhattisgarh, Maharashtra, and Haryana are also actively positioning themselves to attract investments and secure a place in India's expanding electronics value chain.' amil Nadu, already strong in electronics manufacturing, has set the benchmark with its policy. It announced matching grants under the Tamil Nadu Electronics Components Manufacturing Scheme on April 30 for those that qualify under the ECMS. 'Tamil Nadu coming out with such a policy really puts pressure on the rest of us because they have a thriving ecosystem that they offer such players already,' said an official from a neighbouring state. 'Our coffers do not allow us to give incentives like this so we will have to work doubly hard to get people to invest in our state.' The Centre expects its policy to attract investment of Rs 59,350 crore, result in production of Rs 4,56,500 crore and generate additional direct employment of 91,600 persons and many indirect jobs during its tenure. This six-year scheme will support the successful smartphone production-linked incentive (PLI) scheme by allowing higher value addition and also back a similar programme for semiconductors. India's value addition in electronics manufacturing is currently about 20%. The aim is to double this in the next five years and be at par with global leaders.
Time of India
09-05-2025
- Business
- Time of India
States chase chip billions; Porter's unicorn round
States chase chip billions; Porter's unicorn round Also in the letter: UP, Gujarat rush to take part(s) in electronics race Current situation: Tamil Nadu was among the first movers, announcing a programme to match incentives under the Centre's new Electronic Component Manufacturing Scheme (ECMS) after the government rolled out a Rs 23,000 crore package to boost the electronics ecosystem. Gujarat is fast becoming a hub for electronics and semiconductors, with projects from Micron, CG Power, and Tata Electronics in Dholera and Sanand. Uttar Pradesh is positioning itself as a key player, leveraging Noida's growing status as an electronics manufacturing hub. Karnataka already has a competitive Electronics System Design and Manufacturing (ESDM) policy. 'We might make some tweaks and additions, but it remains competitive,' said Gunjan Krishna, Karnataka's commissioner for industrial development. Also Read: Tell me more: Future outlook: Porter joins unicorn club with $200 million funding round; valuation hits $1.2 billion Deal details: The round, comprising both primary and secondary transactions, has propelled Porter into the unicorn club with a $1.1–$1.2 billion valuation, according to people familiar with the matter. Early investor Peak XV Partners has fully exited as part of the deal. Kae Capital and Lightrock have partially sold their stakes. Vitruvian Partners, an existing backer, also participated. Approximately $140–150 million of the total came from secondary sales, with shares acquired from early-stage investors. Valuation jump: Porter's latest valuation is more than double of $500 million at which it was valued in a 2021 round led by Tiger Global. The valuation surge follows significant business growth for the Bengaluru-based company. Operating revenue for FY25 exceeded Rs 4,000 crore, up from Rs 2,766 crore in FY24, per sources. Ex-Flipkart CTO Peeyush Ranjan joins Mukesh Bansal's Meraki Labs as partner Driving the news: Background: Prior to joining Meraki Labs, Ranjan was general manager and VP of engineering at Google, where he led teams behind AI products such as Google Assistant and parts of the Gemini app. Bansal, cofounder of fashion portal Myntra, has also backed Groww, Skyroot Aerospace, and Lyskraft – a fashion startup by former Zomato executive Mohit Gupta – through Meraki Labs. Other Top Stories By Our Reporters Prosus has invested $8.6 billion in India, remains a key market: CEO Fabricio Bloisi: Why Megabucks AI pilots may not guarantee scalable businesses for technology companies: As Google layoffs continue, a look at Big Tech job cuts in 2025: Global Picks We Are Reading Happy Friday! Uttar Pradesh and Gujarat are moving swiftly to attract major electronic component manufacturers with new incentive schemes. This and more in today's ETtech Morning Dispatch.■ Peeyush Ranjan joins Meraki■ Prosus's $8.6 billion India bet■ AI pilots' scalability concernsUttar Pradesh and Gujarat are drafting new incentive schemes to attract large-scale electronic component manufacturers to establish factories in their respective has already embedded electronic component manufacturing into its Electronics System Design and Manufacturing (ESDM) policy.'We might make some tweaks and additions to the policy in light of the latest developments but it is a competitive policy as it stands,' said Gunjan Krishna, Karnataka commissioner for industrial Centre aims to draw Rs 30,000 crore in investments and create over 60,000 jobs over six years, building on the smartphone PLI scheme's success. The goal is to double India's 20% value addition in electronics within five years.(L-R) Pranav Goel and Uttam Digga, cofounders, PorterOn-demand logistics platform Porter has raised $200 million in a funding round led by private equity firms Kedaara Capital and Wellington Ranjan, former CTO, FlipkartPeeyush Ranjan, former Flipkart CTO and long-time Google executive, has joined Mukesh Bansal's startup incubator , Meraki Labs, as a in San Francisco, Ranjan will help expand Meraki's footprint in Silicon Valley as the firm intensifies its focus on artificial intelligence (AI). He will work closely with entrepreneurs at the incubator to shape their technology and product strategies, he told us.'A big part of my role will be to guide Meraki's AI vision… What kind of companies we should start, what are the problems that we will be great at solving?... Not just applying AI for the sake of it,' he Bloisi, CEO, ProsusDutch tech investor Prosus has invested $8.6 billion in India and continues to view the country as a key growth market, CEO Fabricio Bloisi said in a letter to shareholders on firms are investing heavily into AI pilots to build competitive moats and futureproof revenues. However, these outlays may not always translate into scalable businesses, industry experts and founders told major Google laid off hundreds from its global business unit earlier this week, extending the wave of tech job cuts that began in 2023. Big Tech firms, including Meta, Microsoft, and Apple have also trimmed headcount as accelerate investments in artificial intelligence (AI).■ US scraps Biden-era rule that aimed to limit exports of AI chips ( FT ■ AI's threat to Google just got real ( WSJ ■ Sequoia leads $1.5B tender offer for sales automation startup Clay ( TechCrunch
