INDIA ELECTRONICS EXPORTS
US, India fast-track $500 bn trade deal as JD Vance visits amid global tariff unrest
Amidst US-China trade tensions and reciprocal tariffs, Vice President JD Vance's visit to India underscores the urgency of finalizing the Bilateral Trade Agreement (BTA). Both nations aim to boost trade to $500 billion by 2030, focusing on energy, defense, and technology.
ETtech Explainer: Inside India's iPhone dreams — The story so far
Amidst Trump's tariffs impacting China, Apple is increasing iPhone manufacturing in India, leveraging Foxconn and Tata Electronics. While a complete US shift is unlikely due to cost, India's iPhone exports surged in FY25. Meanwhile, potential delays from China in allowing production to move out complicate Apple's diversification push.
India’s AI job boom; Hackers fuel Indo-Pak fire
Happy Thursday! Hiring in artificial intelligence (AI) roles is set to grow this fiscal, bucking tech industry trends. This and more in today’s ETtech Morning Dispatch.
Apple exports 97.6% of iPhones to US from India amid tariffs: Report
With Beijing retaliating against the US action, the reciprocal tariff on China has gone up to 245% for some products. However, consumer electronics items including smartphones and laptops have been exempted from reciprocal tariffs. The Trump administration will announce special tariffs for these products, sometime in May.
TN CM launches special scheme on electronics components; targets Rs 30,000 cr investments
Tamil Nadu Chief Minister M.K. Stalin launched the 'Tamil Nadu Electronics Components Manufacturing Scheme,' aiming for ?30,000 crore in investments and 60,000 jobs. This initiative supports electronic component production, complementing the 'Semiconductor and Advanced Electronics Policy 2024.' The scheme offers incentives matching the Union Ministry's subsidies. Tamil Nadu leads in electronics exports, reaching USD 14.
MatchLog partners with Maersk for landside equipment optimisation in India
Mumbai-based MatchLog Solutions is aiming to create a sustainable ecosystem in the shipping industry through its container reuse platform.
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Samsung Electronics drops Q2 outlook due to trade uncertainties
Samsung Electronics raised Q1 profit 1.2% to 6.7 trillion won but cut its outlook due to US tariffs and AI chip export restrictions. Smartphone profits rose 23%, while chip profits fell 42%. The company may relocate production and expects solid Q2 chip demand but warns of weaker demand later this year.
Samsung Electronics posts 22% jump in Q1 net profit
South Korean tech giant Samsung Electronics reported a better-than-expected 21.7 percent rise in first-quarter net profit on Wednesday as consumers rushed to buy smartphones under the looming threat of US tariffs. The world's largest memory chipmaker reported net profit of 8.22 trillion won ($5.75 billion) for the January-March quarter, up 21.7 percent on-year.
Foxconn India revenue rises to over $20 billion, employee count up at around 80,000
Foxconn more than doubled its India revenue to over $20 billion in FY 2024-25, driven by iPhone production. Its workforce grew 65% to 80,000. The firm is expanding with major investments in manufacturing, AirPods, and semiconductors, anticipating continued rapid growth.
Pakistan’s airspace block unlikely to rattle India’s cargo routes
India is assessing the impact of Pakistan’s airspace closure on air cargo, though exporters say disruption will be limited as most goods move by sea. Air shipments of garments, gems, perishables and electronics may face pressure before the July 9 tariff deadline. Falling freight rates and a temporary pause in US tariffs have offered some relief.
Low labour productivity and gaps in high-tech infrastructure holding back India's export potential: Report
India is diversifying exports with FTAs. The Purchasing Managers' Index leads in Asia. Positive sentiment is seen across manufacturing parameters.
Indian apps don't fall far from Apple tree
Indian developers are generating revenue for Apple's App Store. This strengthens Apple's engagement in India. India's e-commerce market and US-China trade tensions influence Apple's strategy. Apple's diversification to India is proving beneficial. The app ecosystem thrives due to digital transactions. This success mitigates concerns about app store pricing. India contributes to Apple's hardware, software, and talent pool.
High US tariffs pushing Chinese exporters to tap Indian firms for shipments to America: FIEO
High US tariffs on Chinese goods are pushing American sourcing firms and Chinese exporters to approach Indian companies for supplies, creating major opportunities for Indian exporters. FIEO highlights rising interest, though regulatory hurdles remain for Chinese firms investing in India.
High US tariffs pushing Chinese exporters to tap Indian firms for shipments to America: FIEO
American sourcing firms and Chinese exporters are contacting Indian companies to supply goods to the US, aiming to circumvent high tariffs imposed by Washington on Chinese products. The US has imposed 145% tariffs on Chinese goods, while India faces only 10%. Chinese manufacturers are also seeking to pass export orders to Indian firms, maintaining US business relationships through commission-based arrangements.
Defence stocks: In the short term it’s an event, in the long term a trend: 9 defence stocks with upside potential of up to 32%
With tensions flaring up again between India and Pakistan, did you notice that it is naval moves that are making news, with missiles being fired from ships? Yes, the air force is also undertaking exercises, but somehow it is the navy that is visibly more active. Now, all this is a short-term reaction. The long-term reality is that if India is to become an economic super power, it needs much better defence capabilities. And these should not be dependent on foreign countries. Now, defence capabilities cannot be built overnight. So, ignore the short-term events and focus on defence as a long-term trend.
Thanks to Trump, Chinese firms are warming up to India
Chinese companies are now more open to diluting stakes in favour of Indian entities due to Trump's tariffs. Reliance Industries is a key contender for a stake in Haier India. Shanghai Highly Group has revived talks with Tata-owned Voltas for a joint venture. India may limit Chinese companies to a 10% equity investment in electronics joint ventures.
Chinese firms turn to Indian exporters to help fill US orders
Trade war prompts Chinese firms to approach Indian exporters. They seek help to fulfill US orders due to tariffs. Indian companies are offered commissions for sales. Sectors like hand tools and electronics see increased queries. Indian government is in talks with the US for a trade deal. Some American firms are also approaching Indian manufacturers.
Dixon to manufacture electronic components; Tata Electronics may invest Rs 2,000 cr under ECMS
Dixon Technologies is set to venture into electronics component manufacturing, initially for internal use before expanding to exports. Tata Electronics is expected to invest significantly in this sector under the government's incentive scheme. Dixon aims to produce display modules, camera modules, and lithium-ion batteries, contributing to the global value chain.
Norms unveiled to fire up electronics parts manufacturing in India
Companies with local design teams and ‘six sigma’ quality will be major factors in evaluating applications, said union electronics and information technology minister Ashwini Vaishnaw. The government expects the scheme to attract Rs 59,350 crore in new investments, create around 91,600 direct jobs, and enable production worth Rs 4,56,500 crore.
Six-year incentive plan: Norms unveiled to fire up electronics parts manufacturing in India
The govt has unveiled guidelines for the Electronics Components Manufacturing Scheme. This ?23,000-crore initiative aims to boost domestic electronics production. The online application portal opens on May 1. The scheme anticipates significant investment and job creation. It targets increasing India's global electronics share. Turnover and capital expenditure incentives are included.
India’s jewellery, textile exporters see contrasting impact from US tariffs
The US tariff policies have significantly impacted India's gems & jewellery and textiles sectors differently. Jewellery exports from Mumbai's SEEPZ have plummeted, leading to workforce reductions, while textile units in Tirupur are experiencing a surge in inquiries and orders as US buyers seek alternatives to China.
Apple plans to ramp up iPhone production in India to accelerate manufacturing shift from China
Apple intends to significantly increase iPhone production in India. This move aims to shift manufacturing away from China. The goal is to mitigate business risks from the Sino-US trade situation. India's iPhone output could rise to 70-80 million by 2026. India may become a key iPhone supplier to the US. Government support will be crucial for this expansion.
Apple aims to source all US iPhones from India in shift away from China: FT report
In a pivot away from China amid Trump's trade war, Apple is looking to move assembly of all US-sold phones to India. China, where Apple manufactures most of its iPhones, has been hit the heaviest with tariffs by Trump administration. The tech major has been steadily building capacity in India with contract manufacturers Tata Electronics and Foxconn.
K-tech plugs into India to light up electronics
LG Electronics is expanding its operations in India for exports, prompting its Korean component manufacturers to establish factories in the country with a ?1,200 crore investment. Samsung is also considering a similar move, potentially bringing more Korean vendors to India. This shift is driven by LG's plans to export to various regions and favorable tariff conditions compared to Vietnam.
Indian firms should avoid re-routing of goods from China to US: GTRI
GTRI advises Indian exporters to avoid re-routing Chinese goods to the US to bypass tariffs, emphasizing genuine value addition and supply chain transparency. The US is imposing high tariffs on China, leading to trade strategy shifts and potential market distortions.
High US tariff on China, provides opportunity for India, but only if exporters play by rules: GTRI
A new report by GTRI warns exporters eyeing the US market amid high tariffs on China to proceed cautiously. While the tariff gap presents opportunities for countries like India, simply rerouting Chinese goods is risky and illegal. To benefit, exporters must ensure substantial transformation and value addition, building transparent, compliant supply chains for long-term gains.
Govt seeks mode-wise services export data to improve accuracy
To enhance the precision of services export data, the Indian government, via the DGFT, is introducing a 'Mode of Export of Services' field in the e-BRC format, effective May 1, 2025. This aligns India's data capture with WTO GATS standards, covering cross-border supply, consumption abroad, commercial presence, and the presence of natural persons.
Move to protect against cheap imports hurts Electronics Inc
India's move to protect against substandard imports is creating supply chain risks for electronics manufacturers, potentially hindering export competitiveness. Quality control orders on base metals unintentionally affect the electronics sector, causing sourcing constraints. Industry executives are seeking exemptions for electronics products, as these require high-grade raw materials not readily available in India, potentially disrupting production and global value chain integration.
India finalises electronics components scheme as it eyes major export growth
Key components like PCBs and camera modules will be made locally. Minister Ashwini Vaishnaw highlighted India’s maturing electronics ecosystem and its aim to boost exports to $500 billion by 2030-31.
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