India’s technology news headlines across the first quarter of 2024 – that’s January, February and March, collectively – spanned a wide range of items and achievements, successes and technological challenges.
Q1 2024 tech news from India included, for instance, coverage of: India’s many moves into space technologies, across space vehicle launch, satellites and international partnerships; the Indian stance on cryptocurrencies as an asset for speculation; the country’s rational moves into the lower-end manufacturing and assembly space for both semiconductors and electronics as a way to generate knowledge and experience; electric vehicles and swappable-battery tech roll-out across India; and many more.
In March 2024 | In February 2024 | In January 2024
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Deloitte, NASSCOM, ISA: Opportunities for Indian downstream spacetech
Indian tech: March 2024
- India: Union Cabinet green lights Gujarat chip plant in collaboration Japan’s Renesas and Thailand’s Stars Microelectronics, focusing on trains, defence, space and EVs / read it here
- India: Gov’t approves semiconductor fabrication plant partnership for Gujarat between Tata Electronics and Taiwan’s Powerchip Semiconductor Manufacturing Corp / read it here
- India: Gov’t approves semiconductor assembly and test facility plan for Assam state, to be operated by Tata Semiconductor Assembly unit and partners, focusing on semicon packaging / read it here
- Mobile network speeds: “Asia Pacific markets saw an improvement of 5.2Mbps on average — India, Malaysia and South Korea saw the highest speed increases… of 36.1Mbps, 17.9Mbps and 14.8Mbps, respectively.” / read it here
- India preps for 3 unmanned space launches prior to manned launch, with first G1 mission set for July to test Gaganyaan Crew Module and featuring a humanoid robot / read it here
- India: Digantara raises $2M with Space-Mission Assurance Platform – Space-MAP – leveraging multi-modal data pool to provide stakeholders with insights aiding safety and sustainability of space operations / read it here
- Indo-Pacific: India and Germany resolve to collaborate on hi-tech for military use, with joint miltary exercises also under discussion / read it here
- India: An intro to 7 Indian semiconductor-related firms boosting the country’s tech ambitions / read it here
- India: Samsung Semiconductor India Research unveils R&D facility in Bengaluru / read it here
- India: An overview of the recent launch of Krutrim AI which, like Google’s Gemini, proved not quite ready for prime time, with hallucinations, factual errors and more in the mix / read it here
- India: OnGrid HR-tech firm expands SE Asia and Middle East footprint with Elockr ISO-certified background verifications and checks platform, delivering tamper-proof certificates of experience / read it here
- “Japanese foreign direct investment (FDI) in India was USD40.84 billion. In 2023 alone, this figure was USD1.79 billion, making Japan the fifth-largest investor in India…” / read it here
- India: mPokket raises $60M debt capital from credit arm of Baring Private Equity Asia with credit, insurance and ‘career acceleration’ products for underserved youthworking professionals and the self-employed / read it here
- India: IDfy identity verification and onboarding platform raised $27M with services including know-your-customer and risk/fraud mitigation, and a throughput of 60M verifications per month / read it here
- Inaugural India-Philippine Tech Summit took place recently, gathering stakeholders in digital domains for networking and to explor government-to-business and business-to-business partnerships / read it here
- India: US-based D-Matrix AI chips firm outlines goals for India as a crucial market, with sights on the country for 30% of its workforce / read it here
- India: Azimuth AI gains backing from UAE’s AUM Ventures with first generation of System-on-Chip products, developing purpose-built SoCs for smart city and broad EV applications / read it here
- India: Gujarat state gov’t reportedly has allotted 160 acres to Tata Group plan for the country’s first large-scale chip fabrication unit / read it here
- India: Gov’t approves $1.25BN investment in artificial intelligence, spanning computing infrastructure and development of large language models, targeting industry value of $17BN by 2027 / read it here
- ‘Assessing India’s Readiness to Assume a Greater Role in Global Semiconductor Value Chains’ from Information & Technology Innovation Foundation / read it here
- India: First 28nm semiconductors from Gujarat plant now under construction by Tata Group and Taiwan’s PSMC expected to be in hands by year-end 2026 / read it here
- India’s home-grown RISC-V chips, DIR-V VEGA, have debuted in development boards / read it here
- India’s NASSCOM and Australia’s Business NSW ink MOU to facilitate market access for tech companies in the two markets, leveraging the Australia-India Economic Cooperation and Trade Agreement / read it here
- Competition Commission of India launches investigation into Google over unfair and discriminatory practices allegations directed at Google in-app billing system / read it here
- India: chargeMOD unveils growth plans, aiming to deploy additional 1200 EV chargers across India and 600 more in Kerala State, covering both fast- and slow-charge units / read it here
- India: Finance Minister states that cryptocurrencies cannot be a legal currency in India; they are simply assets for trading and speculation / read it here
- India: A brief look at the country’s moves towards use of blockchain tech, with documents from 9 federal organizations and provincial governments now on-chain / read it here
- Indian Space Research Org’n finalizes New Generation Launch Vehicle project team, building towards space station ambitions under Space Vision 2047 plan / read it here
- India: National deeptech startup policy reportedly now in the final stages of inter-ministerial consultations, with sights on an underpinning fund-of-funds / read it here
- India: An overview of the challenges India’s nascent chips industry faces, both in terms of domestic funding capability and from China’s chip industry export ambitions / read it here
- India and France partner for Indo-Pacific Triangular Cooperation Fund focused on climate solutions and UN Sustainable Development Goals outcomes in Western Indian Ocean and wider Indo-Pacific region / read it here
- Indian Institute of Tech Madras partners Starburst, French aerospace and defense startup accelerator, to establish startup with backed by 100M Euros to boost India’s aviation, space and defense ecosystems / read it here
- A brief overview of emerging rivalry between India and Pakistan in the space domain / read it here
- Singapore: 70/30 Food Tech closes $700K seed extension round, launching R&D lab in India’s Bangalore for fungi mycelium-based protein products / read it here
- Investment NSW invites expressions of interest from NSW New Energy firms for participation in New Energy delegation to India, and to attend India Energy Storage Week in July / read it here
- India’s Tech Mahindra IT services major partners IBM for ‘Synergy Lounge’ in Singapore, looking to boost enterprise-level adoption of next-gen tech services AI, automation, cloud computing and beyond / read it here
- Consortium of Indian Industries in Malaysia and India ASEAN Startup Summit ink MOU looking to boost startup and innovation exchanges / read it here
- “Taiwan is also interested in stepping into the Indian semiconductor industry because the Indian government has already announced it would cover 50% of the costs of setting up semiconductor fabs.” / read it here
Deloitte: NewSpace, India’s space perspective
#startupindia: Feb 2024
- India: Indus Appstore Emerging Startup Awards launch with applications closing March 5th, a partnership between Startup India and PhonePe’s app store
- Startup India initiative saw major cutbacks in 2024 Union Budget, with Fund of Funds Scheme and Credit Guarantee scheme allocations cut, and overall program budget cut
- India: Twyn lands place with Suzuki’s India startup accelerator with ‘digital twin’ tech for manufacturers and OEMS, creating digital clones of physical assets and environments
- India: Gov’t launches Digital India FutureLABS programme to boost the electronics system design and manufacturing sector, aiming for an ecosystem approach to IP, standards and next-gen electronics
- India: Tata Group to enter the online food ordering sector with its super app, Tata Neu, integrating with the government-created Open Network for Digital Commerce
- Microsoft partners India’s Sarvam AI startup to bring Sarvam’s Indic voice large language model to Microsoft Azure, implementing Hindi as first output language
- India: Paymart partnered by 5 Indian banks for virtual, cardless, hardware-less cash withdrawals, allowing for instance shopkeepers to offer cash withdrawals without ATMs or other hardware
- India: Microsoft ‘Code; Without Barriers’ program sets sights on skilling and certifying 75,000 women developers in India in 2024 in cloud, AI, and digital technologies
- India: Hong Kong’s Clearbot marine-tech startup to launch a fleet of solar-powered autonomous boats to help clear river and ocean-borne pollution in India’s rivers
- “In India, cybersecurity still does not attract the attention it needs – let alone cybersecurity of the maritime domain and its assets. India aspires to develop mega ports, modern port infrastructure, and transshipment hubs… Increased interconnectedness with online systems, in turn, would make India’s maritime critical infrastructure more vulnerable to cyberattacks.”
- India: Creators United Fest 2024 set for March 15, aiming to be Asia’s largest creatives-focused fest by gathering industry experts, brands, publishers and performers in Maharashtra
- India: Department of Telecommunications launches Sangam Digital Twin initiative to explore future infrastructure planning and design, aiming to leverage emerging and high-impact technologies
- India: A brief intro to Physics Wallah and other online test-preparation startups, seeing the industry as an opportunity for Netflix-style subscription models
- India: Vidyut raises $10M Series A to scale full-stack EV finance focus, incorporating insurance, lifecycle management and EV resale
- India: Taiwan’s Taisys preps for $100M investment in India subsidiary to focus on semiconductor design and production for the auto and electric vehicle sectors
- India: Space sector set to grow with Indian cabinet approving FDI rules amendment allowing overseas investment in the sector, in some cases up to 100%
- World Semiconductor Council writes to India’s Prime Minister raising concerns over proposed tariffs on digital commerce and transfers of chip design data
- India: An overview of 4 schemes under the $10BN Semicon India programme, aiming to secure semiconductor supply chains, create jobs and more
- India: Uber inks MOU with government-backed open network for digital commerce, ONDC, to integrate with the network for wider payment options, with ONDC gaining from additional exposure
- India: Government commences evaluation of $21BN worth of semiconductor-related proposals, both domestica and international, with gov’t set to bear half of costs
- Taiwan’s Wistron Corp’n inks MOU with India’s Karnataka government for manufacturing plant in the state, set to produce laptops, IoT items and EV components
- A look at the opportunities presented by India-Australia technology skills-focused migration
- “Or said another way, if they [BRICS economies] want to cut out the dollar – and essentially the West – who will run the deficits required to absorb the BRICS excesses?”
EY: The AIdea of India – the economic potential for Generative AI
India tech: January 2024
- India: Gov’t space agency successfully launches orbital observatory to study astronomical objects including black holes
- Download: ‘India’s booming space economy – Opportunities for downstream spacetech’ from Deloitte
- India: Vodafone Idea states rumours around tie-up talks with Elon Musk’s Starlink are not accurate, seeing share values fall after initial 21% surge
- India: Vietnam’s VinFast electric vehicles maker to establish battery plant in Tamil Nadu, targeting production of up to 50,000 cars per year with initial expenditure of up to $200M
- India: Asia’s first hyperloop test track set for construction near Chennai, backed by India’s Ministry of Railway and IIT Madras
- India: Reserve Bank hits 1M daily digital currency transactions via ‘e-rupee’, in part through bank disbursement of some employee benefits to CBDC wallets rather than salary accounts
- India: Tamil Nadu Semiconductor & Advanced Electronics Policy 2024 to allow chip design entities to be eligible for payroll reimbursement if they employ Tamil Nadu residents, in bid for manufacturing base
- India: Google News Initiative Startup Labs rolls out latest cohort of 10 early-stage Indian news startups producing in English, Hindi, Malayalam, Kannada, and Telugu
- India: Mylapay fintech raises $550K seed funding with single platform for payments processing, incorporating API connectivity for both payment aggregators and banks
- India: Tata Group close to finalising plans for a semiconductor manufacturing plant in Gujarat state, alongside plans for a 20GW lithium-ion batteries factory
- India: Infosys IT services major to acquire Bengaluru’s InSemi semiconductor design and services provider for around 433M, looking to develop Infosys’ chip-to-cloud strategy
- India: Micron US tech giant and NAMTECH – New Age Makers Institute of Tech education initiative join to grow a globally-competitive talent pool as part of the India Semiconductor Mission
- India: National Quantum Mission calls for proposals to establish 4 technology hubs to focus on communications, computing, metrology and sensing, and materials
- India: Taiwan’s Foxconn partners HCL Group IT consultancy major for JV to establish a semiconductor assembly and testing facility
- India and Argentina sign agreement for exploration and mining of lithium, with India accessing over 15000 hectares of Argentine ‘lithium blocks’
- India: GoPurple agri-tech secures $180K pre-seed funding with indoor ‘fogponics’ farm and R&D centre, focusing on crops and seeds suitable for growing in soilless environments
- India’s Tata Consultancy Services partners Australia’s Macquarie University to launch TCS GoZero Hub, a research and innovation centre focusing on a net-zero future
- India: TechSparks startups-and-tech conference 2024 edition is set for Mumbai from February 29th to March 1st
- India: Bounce Infinity partners Sun Mobility for swappable batteries in 30K scooters in city markets, using SUN’s network of 600+ swap stations with batteries claiming 95km range
- “India’s stock market capitalization has overtaken Hong Kong’s for the first time… while global capital pours out of China….Indian exchanges reached $4.33TN as of Monday’s close vs $4.29TN for Hong Kong…”
- India: Gov’t announces program under which up to 10M households could install rooftop solar
- India: Marwari Catalysts VC launches Aarohan ReligionTech Startup Acceleration Program
- India: An overview of the country’s moves to become quantum technology-ready in 2024, growing around the $735 million National Quantum Mission
- India: CureBay e-clinics chain secured $7.5M with focus on rural health, looking to boost clinic presence in underserved communities in India to 200
- India: A brief overview of the nation’s moves to secure and develop a lithium supply chain
- Google Pay and India’s NPCI Int’l Payments ink MOU around expanding Unified Payments Interface payments beyond India, enabling payments from India without foreign currency, credit or forex cards
- Indian Space Research Organization sets sights on minimum of 12 space missions through 2024, with NASA satellite collaboration and Venus study mission in development
- Available to download: ‘The Quad and Submarine Cable Protection in the Indo-Pacific – Policy Recommendations’ from the Stockholm-based Institute for Security & Development Policy
- “If this is the case, then Quad states need to work on
ensuring redundancy but understand that these cables may be used by belligerents via neutral parties in the event of conflict. So, what’s to be done? Perhaps look at space and the robust space capabilities of Japan, India, and the U.S. and the development of communication satellite infrastructure that can be used in the event of cable rupture.” - India: BluSmart EV ride-hail & charging firm backed to $25M by Switzerland’s responsAbility impact investor, with vertically-integrated tech stack claiming savings of circa 26K tons of CO2 to date
- A brief overview of Indo-Pacific space-technology developments, and rising concerns, from Nikkei Asia
Deloitte & NASSCOM: India’s emerging technology hubs
Asian tech news: Other platforms
- Daily – LinkedIn / Twitter/X / Facebook
- Newsletters – weekly on LinkedIn / Substack
- Monthly collections – countries across AsiaPac / IndoPac
- Asia tech, quarterly – 3 months’ coverage per country
- Critical technologies – global news, monthly & quarterly
