India arrested four individuals in connection to a Vivo money laundering case. Local chipmakers are emerging to capitalize on India's ambition to build a local semiconductor ecosystem.
India arrested Vivo employee and Lava co-founder on money laundering charge
India arrested four individuals, including Hari Om Rai, co-founder and managing director of Lava, Chinese national Andrew Kuang, alleging the arrests of entering India in a disguised and fraudulent manner to set up an elaborate Chinese-controlled network throughout India and carrying out activities prejudicial to the economic sovereignty of India. In addition to opening bank accounts with forged documents, the ED has alleged that Vivo employees were working in India without the necessary visas.
India no longer a golden goose for China-based smartphone brands
Despite being the largest handset brands in India, China-based smartphone brands have been accused by India of setting up shell companies in India and involvement in illegal fund transfers, signaling India may no longer be a cash cow for Chinese companies.
India's Sahasra Semiconductors aims to begin with basic packages that could offset Chinese imports
India-based Sahasra Semiconductors, a nascent player in the chip-making segment, has unveiled plans to commence ATMP production. This initiative not only marks Sahasra's foray into the burgeoning semiconductor market, but also signals a step towards reducing dependency on Chinese imports in the domain.
India emerges as a communication devices exporter
Ashwini Vaishnaw, telecom minister of India, said that telecom companies have invested INR24.19 billion (US$290.78 million), generated INR345.16 billion in sales and INR76 billion in exports in India under the Production Linked Incentive (PLI) scheme for telecom and networking products. His speech came at the inauguration of VVDN's new SMT line for manufacturing 4G/5G modules and data cards for UK-based Telit Cinterion.
Tata reportedly drafting proposal to apply for chipmaking incentives in India
BusinessLine quoted sources close to the Ministry of Electronics and IT saying that Tata is drafting a proposal and finding partners with semiconductor manufacturing technologies before submitting it in the next three to six months.
