Latest news with #Foxconn
Time of India
5 hours ago
- Business
- Time of India
Economy to grow slower unless more women join workforce: MeitY secretary
Unless more women join the workforce, the pace of economic growth in India will remain slower than it optimally can be, ministry of electronics and information technology (MeitY) secretary S Krishnan said on Thursday. It also won't be possible to realise the government's aim of raising the share of the manufacturing sector in gross domestic product (GDP) to 25 percent, he at an event here, Krishnan argued that for states with an ageing population, such as Tamil Nadu, higher female participation in the labour force will be crucial in order to balance the demand and supply of jobs and worker availability."There has been a preference for women as employees in certain sectors for a long time. In the electronics sector, safety and conditions of work and stay are prime concerns for women employees," Krishnan component manufacturer Foxconn had faced major protests back in 2021 from about 3,000 women employees over unsuitable living conditions, Krishnan reminded. "This drove us, and recently, the state entity (in Tamil Nadu) built accommodations for 20,000 women employees close to the electronics cluster in Chennai under the PM Awas Yojana," he said. Many private investors have stepped in now to create dormitory-style accommodations for female employees in the electronics manufacturing sector as part of shelter funds where corporates can invest in housing, the secretary emergence of factories with up to 40,000 workers has been possible in India due to the large number of women working in them, he female labour force participation rate (FLFPR) in India has risen to 41.7 percent in 2023-24, up from 23.3 percent in 2017-18, according to the Economic Survey 2024-25. However, the figure is much lower considering women as by business services provider Quess Corp and not-for-profit Udaiti Foundation, the event focussed on ways to unlock women's potential in India's fast-growing blue-grey collar economy. Among sectors, information technology (IT) has the second-highest participation rate for women as employees, at 34 percent, an assessment by the Foundation shows. Based on the analysis of annual reports of 115 NSE-listed IT companies, the Foundation's 'Close the Gender Gap' data hub showed that the percentage of women in key managerial positions and board of directors was at 22%.
New Straits Times
21 hours ago
- Business
- New Straits Times
Taiwan plans AI projects to boost economy
TAIPEI: Taiwan plans to launch its "10 Major AI Infrastructure Projects" initiative, aimed at generating more than T$15 trillion in economic value by 2040 as it strives to become a global leader in artificial intelligence (AI). Premier Cho Jung-tai said in a Facebook post late on Tuesday that Taiwan aims to leverage its information and communications technology (ICT) sector and world-leading semiconductor manufacturing capabilities to become a global AI influencer and a "smart technology island". Under the initiative, Taiwan has identified three core technologies as strategic priorities: silicon photonics, quantum technology and AI robotics. Silicon photonics is a technology that Taiwan's TSMC , the world's largest contract chipmaker, and many other firms in the industry are actively developing. The government aims to position Taiwan as a global leader in silicon photonics by aligning the sector with future AI development needs. Taiwan also hopes to become a key hub for AI robotics by tapping its hardware and ICT supply chains. Industry groups, including one led by Foxconn chairman Young Liu, have backed the move with the formation of the Taiwan AI Robotics Industry Grand Alliance on Tuesday to support the local development of AI robotics and related ecosystems. The 10 projects also include the development of sovereign AI — ability to build and control domestic AI technologies — and computing infrastructure, efforts to balance AI development across different regions of the island and the introduction of AI across a wide range of industries. The initiative targets the creation of 500,000 jobs and the establishment of three international-level research laboratories. — REUTERS
Free Malaysia Today
a day ago
- Business
- Free Malaysia Today
Taiwan plans AI projects to boost economy by US$510bil
Taiwan's Premier Cho Jung-tai said Taiwan aims to leverage its information and communications technology sector to become a 'smart technology island'. (EPA Images pic) TAIPEI : Taiwan plans to launch its 'Ten Major AI Infrastructure Projects' initiative, aimed at generating more than T$15 trillion (US$510 billion) in economic value by 2040 as it strives to become a global leader in artificial intelligence (AI). Premier Cho Jung-tai said in a Facebook post late yesterday that Taiwan aims to leverage its information and communications technology (ICT) sector and world-leading semiconductor manufacturing capabilities to become a global AI influencer and a 'smart technology island'. Under the initiative, Taiwan has identified three core technologies as strategic priorities: silicon photonics, quantum technology and AI robotics. Silicon photonics is a technology that Taiwan's TSMC, the world's largest contract chipmaker, and many other firms in the industry are actively developing. The government aims to position Taiwan as a global leader in silicon photonics by aligning the sector with future AI development needs. Taiwan also hopes to become a key hub for AI robotics by tapping its hardware and ICT supply chains. Industry groups, including one led by Foxconn chairman Young Liu, have backed the move with the formation of the Taiwan AI Robotics Industry Grand Alliance yesterday to support the local development of AI robotics and related ecosystems. Taiwan also plans to establish a quantum technology industry chain. The 10 projects also include the development of sovereign AI – ability to build and control domestic AI technologies – and computing infrastructure, efforts to balance AI development across different regions of the island, and the introduction of AI across a wide range of industries. The government also calls for expanding investment in AI innovation, with more than T$100 billion (US$3.08 billion) in venture capital funding, as it seeks to become a global hub for AI talent and investment. The initiative targets the creation of 500,000 jobs and the establishment of three international-level research laboratories.
Yahoo
a day ago
- Business
- Yahoo
How Taiwan Is Betting Big On AI To Power Its Economy
Taiwan Semiconductor Manufacturing Co. (NYSE:TSM) saw its stock recover some losses on Wednesday after closing lower on Tuesday. This rebound comes as the company continues to benefit from robust demand for artificial intelligence (AI) technologies and Taiwan unveils ambitious plans to bolster its position as a global AI powerhouse. Taiwan's Strategic Push into AI Taiwan has launched its 'Ten Major AI Infrastructure Projects,' an initiative designed to inject over 15 trillion New Taiwan dollars (approximately $510 billion) into its economy by 2040, Reuters reported on Wednesday. This strategic move aims to leverage the island's established strengths in the information and communications technology (ICT) sector and its world-leading semiconductor industry to become a dominant force in the global AI the heart of this initiative are three core technologies identified as strategic pillars: silicon photonics, quantum technology, and AI robotics. Silicon photonics, a key area of focus for Taiwan Semiconductor and other industry leaders, is crucial for integrating chip innovation with the evolving demands of AI. To cultivate a strong local ecosystem for AI robotics, Taiwan has also established the AI Robotics Industry Grand Alliance, with the backing of Foxconn Chairman Young Liu. Furthermore, the government intends to build a comprehensive quantum technology supply chain, enhance sovereign AI capabilities, expand computing infrastructure, and ensure that AI development is balanced across all regions of the island. To accelerate this transformation, the government will invest over 100 billion New Taiwan dollars ($3.08 billion) in AI-focused venture capital, aiming to create 500,000 jobs and establish three world-class research laboratories. Stargate Project Setbacks Trigger Dip Shares of Taiwan Semiconductor and its chipmaking peers, including Nvidia (NASDAQ:NVDA), Advanced Micro Devices (NASDAQ:AMD), Broadcom (NASDAQ:AVGO), and Qualcomm (NASDAQ:QCOM), fell on Tuesday after reports revealed deep internal conflicts between OpenAI's Sam Altman and SoftBank's (OTC:SFTBY) Masayoshi Son derailed the ambitious $500 billion Stargate AI project. The feud stalled progress, slashed the project's scale to one smaller Ohio site, and triggered investor concerns, dragging down semiconductor stocks worldwide. Price Action: TSM stock is trading higher by 1.19% to $237.40 premarket at last check Wednesday. Photo by YAKOBCHUK V via Shutterstock UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? TAIWAN SEMICONDUCTOR (TSM): Free Stock Analysis Report This article How Taiwan Is Betting Big On AI To Power Its Economy originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved.
Time of India
a day ago
- Business
- Time of India
Taiwan plans AI projects to boost economy by $510 billion
Taiwan plans to launch its "Ten Major AI Infrastructure Projects" initiative, aimed at generating more than T$15 trillion ($510 billion) in economic value by 2040 as it strives to become a global leader in artificial intelligence. Premier Cho Jung-tai said in a Facebook post late on Tuesday that Taiwan aims to leverage its information and communications technology (ICT) sector and world-leading semiconductor manufacturing capabilities to become a global AI influencer and a "smart technology island." Under the initiative, Taiwan has identified three core technologies as strategic priorities: silicon photonics, quantum technology and AI robotics. Silicon photonics is a technology that Taiwan's TSMC, the world's largest contract chipmaker, and many other firms in the industry are actively developing. The government aims to position Taiwan as a global leader in silicon photonics by aligning the sector with future AI development needs. Taiwan also hopes to become a key hub for AI robotics by tapping its hardware and ICT supply chains. Industry groups, including one led by Foxconn Chairman Young Liu, have backed the move with the formation of the Taiwan AI Robotics Industry Grand Alliance on Tuesday to support the local development of AI robotics and related ecosystems. Taiwan also plans to establish a quantum technology industry chain. The 10 projects also include the development of sovereign AI - ability to build and control domestic AI technologies - and computing infrastructure, efforts to balance AI development across different regions of the island, and the introduction of AI across a wide range of industries. The government also calls for expanding investment in AI innovation, with more than T$100 billion ($3.08 billion) in venture capital funding, as it seeks to become a global hub for AI talent and investment. The initiative targets the creation of 500,000 jobs and the establishment of three international-level research laboratories.>
