$19 billion investment by Foxconn already gone with the wind. What Modi is telling just a story, will never materialise. India like to do empty talk with unrealistic projection.
U.S. chipmaker AMD to invest $400 million in India by 2028
GANDHINAGAR, India (Reuters) - U.S. chipmaker Advanced Micro Devices said on Friday it will invest around $400 million in India over the next five years and will build its largest design center in the tech hub of Bengaluru.
AMD's announcement was made by its Chief Technology Officer Mark Papermaster at an annual semiconductor conference that started Friday in Prime Minister Narendra Modi's home state of Gujarat. Other speakers at the flagship event include Foxconn Chairman Young Liu and Micron CEO Sanjay Mehrotra.
Foxconn planning to set up components manufacturing plant in Tamil Nadu, will invest $200 million A unit of Foxconn India is exploring setting up a components manufacturing unit in India's Tamil Nadu, and is currently in discussions with the MK Stalin government. The Taiwanese company plans to invest about $200 million in the project
A unit of Foxconn India is exploring setting up a components manufacturing unit in India's Tamil Nadu, and is currently in discussions with the MK Stalin government. The Taiwanese company plans to invest about $200 million in the project
A division of Foxconn, a contract electronics manufacturer, is reportedly in discussions with the Tamil Nadu government to invest $200 million in the state for establishing a new electronic components plant.
Foxconn already has a presence in Tamil Nadu, near Chennai, where they currently assemble Apple’s iPhones.
Mehul Reuben Das Last Updated:July 27, 2023 13:47:51 IST
As per reports from Reuters, the company presented a plan to invest an initial sum of $180-200 million in the facility. However, it remains uncertain whether the components produced at this new plant will be utilized for iPhones or other products manufactured by the company.
The proposed plant is scheduled to be completed by 2024, and there are potential plans for further investments, though a final decision has not been reached yet.
Foxconn also exploring options in Gujarat Apart from Tamil Nadu, Foxconn is also in negotiations with Gujarat as it endeavours to venture into India’s semiconductor sector. Foxconn Chairman Young Liu is expected to deliver a speech at an annual semiconductor event organized by the Indian government this week.
Furthermore, the Karnataka state government also engaged in discussions with Foxconn about the company’s intention to invest $1.07 billion in establishing another new plant.
Meanwhile, Foxconn decided to withdraw from a $19.5 billion chips joint venture with Vedanta, stating that the project was not progressing as expected. Despite this, Foxconn affirmed its commitment to India, explaining that both parties recognized the challenges and external factors that hindered smooth progress in the joint venture.
I rather believe chip manufactureres to set up more factories in Malaysia than to 'plan' multi billion investment in where ever it may be in India. Supply chain for semiconductors better established in Malaysia, more skilled workforce, better power and water supply, and world class tranportation including seaport, airport and highways. All these factors are lacking in India.
Biden, Modi hail new era for US-India ties and tout deals
-Deals on chips, minerals, tech, space and defense -Human rights, democracy in focus -Modi addresses press, Congress
U.S. President Joe Biden and Narendra Modi hailed a new era in their countries' relationship after the White House rolled out the red carpet for the Indian prime minister on Thursday, touting deals on defense and commerce aimed at countering China's global influence.
“Two great nations, two great friends, and two great powers. Cheers," Biden told Modi in a toast at a state dinner. Modi said in reply: “You are soft spoken, but when it comes to action, you are very strong.”
Meanwhile, during a state dinner on Thursday, PM Modi and US President Joe Biden hailed a new era in their countries’ relationship. “Two great nations, two great friends, and two great powers. Cheers,” Biden told Modi in a toast at the state dinner. “You are soft spoken, but when it comes to action, you are very strong,” PM Modi replied. On the guest list at the state dinner were several top executives from across the world, including Reliance Industries Chairman and MD Mukesh Ambani, Apple’s Tim Cook and Google CEO Sunday Pichai.
Underlining that India and the US come from different circumstances and history, Prime Minister Narendra Modi on Friday said that this visit is one of the “great positive transformation” and together they will demonstrate that “democracy is better and democracies deliver”. Modi, who addressed the joint session of the US Congress for almost an hour punctuated by applause and standing ovation for the second time, said, “When I was here in 2016, I said that our relationship is primed for a momentous future. That future is today.”
Strong alliance will bring the world economy to another level and ease the military conflicts in the indo-pacific region.
‘US jet engine deal will be significant’ Shashank Mattoo 4 min read 19 Jun 2023, 10:06 PM IST
NEW DELHI : The successful conclusion of a deal to co-manufacture jet engines by General Electric and India’s HAL could be a significant development for the India-US partnership, said former Indian Ambassador to the US Arun Singh, given the reluctance of previous administrations to transfer such sensitive technology to India.
India used to buy weapons from Russia, after Ukraine invasion it was proven that Russia weapons were too lousy. It is better to work with strong and soild alliance.
migrate to America? the only Chinese who want to migrate to America are those with lots of ill gotten wealth and afraid the law will catch up with them soon.
India’s stock market is booming as investors take a chance on one of the few bright spots in a fragile global economy.
The country’s stocks are so hot that India is now home to the world’s fourth most valuable equity market, behind only the United States, China and Japan.
India’s benchmark Sensex index, which tracks 30 large companies, has soared 10% over the past three months, while the broader Nifty 50 index has jumped 11% in that time.
Both indexes hit all-time highs last Wednesday. This week they have shrugged off nervousness over instability in Russia, where armed mercenaries staged, and quickly called off, a rebellion last weekend.
The revolt fueled concerns that unrest in the world’s second biggest exporter of oil — and a major supplier to India — could upend the global energy market, heaping more pain on economies around the world.
Both Indian indexes have recently far outperformed their European peers. Since late March, the United Kingdom’s FTSE 100 (UKX) has risen just 0.8%, and France’s CAC 40 (CAC40) 2.9%. The pan-European Stoxx Europe 600 index has climbed 2.9%. The S&P 500, meanwhile, has gained 10% over the same time period, staying 8.8% below its record high reached in 2022.
Economic Survey 2023: India received the highest-ever FDI inflows of $ 84.8 bn in services in FY22
Good strategy to attract more FDI.
Post a Comment
People who like this
New Topic
You should check in on some of those fields below.
Title
Category
Comment
Confirmation
Click Confirm to delete this Forum Thread and all the associated comments.
Report Abuse
Please Sign In to report this post as abuse.
Market Buzz
No result.
Featured Posts
MQ Trader
Introducing MY's First IPO Fund for Sophisticated Investors!
MQ Chat
New Update. Discover investment communities that resonate with your ideas
MQ Trader
M & A Value Partners IPO Equity Fund has been launched - Targeted 13% Return p.a
Latest Videos
0:17
New IPO: Building management systems (BMS), solar thermal systems and energy-saving services provider, Solar District Cooling Bhd aims to list on the Ace Market!
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
ks55
4,052 posts
Posted by ks55 > 2023-07-28 16:29 | Report Abuse
$19 billion investment by Foxconn already gone with the wind. What Modi is telling just a story, will never materialise. India like to do empty talk with unrealistic projection.