The Indian finance ministry lauded development in the mobile phone manufacturing ecosystem thanks to Apple suppliers, reducing import taxes benefiting Apple.
India's latest fabless entrant iVP Semi targets domestic market with homegrown strategy
iVP Semi, a new Indian fabless chip startup, aims to capture the domestic market. Led by industry veteran Raja Manickam, the company focuses on renewable energy, electric vehicles, and automotive sectors. With a US$5 million investment, iVP Semi plans to establish design centers and testing facilities and expand operations. The company seeks to differentiate itself by targeting the Indian market and adopting a gradual product development strategy that mirrors Taiwan's successful semiconductor model.
India reportedly to ease curbs on Chinese investments
Reuters, citing unnamed sources, reported that New Delhi is considering relaxing restrictions on Chinese investment in specific sectors. India may allow Chinese companies to invest in areas where the country lacks expertise, such as solar panels and battery manufacturing. This move aims to boost domestic production.
India reduces import taxes for smartphones, benefiting Apple
In the union budget for fiscal 2025 (April 2024 to March 2025) announced on July 23, the Indian government reduced import taxes on mobile phones and certain components. The basic customs duty on imported mobiles, chargers, and assembled printed circuit boards has been lowered from 20% to 15%. The new customs duties will take effect on July 24.
iPhone production surge signals growing role in global supply chain, citing India 2024 economic survey
The Finance Ministry of India released its annual economic survey for 2024, stating that after a period of stagnation following the global financial crisis, India's participation in global value chains (GVCs) has surged. This growth is driven by incentives from initiatives like the Production Linked Incentive (PLI) scheme and the Districts as Export Hubs (DEH) program.
Indkal targets US$35 million in sales for Acer-branded smartphones
India-based EMS/ODM startup Indkal Technologies has signed a deal to design, manufacture, and sell smartphones under the Acer brand. Indkal plans to use an omnichannel strategy for its mid-to-high-end smartphones, targeting sales of INR3 billion (US$35.85 million).
