US and India Strengthen Technology Partnership to Counter China

The US and India have come together to enhance their technological cooperation through the iCET initiative in an effort to reduce their reliance on China. Despite India’s ambitious goal of establishing a local ecosystem, the country still heavily depends on imported electronic components from China. Recently, initiatives have been announced by both countries to boost cooperation in semiconductors and AI, with the aim of decreasing their dependency on China. The US is leading the charge to build a resilient supply chain that is less reliant on China.

Hyundai Motor India Limited, a subsidiary of Hyundai Motors, has filed a Draft Red Herring Prospectus (DRHP) for an IPO in India. Although specific pricing details have not been disclosed yet, sources have indicated that Hyundai is looking to raise between US$2.5-3 billion at a valuation of up to US$30 billion. The approval timeline for the IPO remains unclear, as India’s market regulator typically takes 3-6 months to process such applications.

In India, IT hardware companies and automakers are urging the government to reconsider its anti-dumping duty on imported PCBs from China and Hong Kong. This duty increase has raised production costs for these companies, undermining their price competitiveness in the market. Additionally, China-based Vivo is reportedly planning to open a large manufacturing facility in northern India. The company is currently seeking Indian partners to operate the facility, as there is growing regulatory pressure from India against Chinese investors.

India is set to experience a surge in compute investments due to sovereign AI initiatives. Global companies such as Microsoft, Amazon, and Nvidia are eyeing opportunities in India’s AI supply chain. These investments are expected to bring significant infrastructure development to the country, further advancing India’s position in the AI industry.