India's Ministry of Electronics and Information Technology (MeitY) recently approved 29 proposals for electronic component manufacturing, representing a total investment of over $750 million. The initiative is part of a push to expand India’s domestic production capacity to $500 billion by fiscal year 2031. Key Projects and Beneficiaries The approved...
India to Manufacture Semiconductor Chips for U.S. Armed Forces
Prime Minister Modi, who was in the U.S. to attend the Quad meeting, met President Biden at his residence in Delaware. "The two leaders hailed a watershed arrangement to establish a new semiconductor fabrication plant focused on advanced sensing, communication, and high-voltage power electronics for national security, next generation telecommunications,...
Canada’s My Health Centre, India’s UP Government Ink $266 Million Deal
Ahead of a Global Investors Summit to be held in India's northern state of Uttar Pradesh from February 10 to 12, 2023, the state's Chief Minister Yogi Adityanath has sent teams to cities in Germany, UK and Canada to invite overseas investors to the Summit. The delegation held a road show...
PepsiCo Inaugurates its Largest Foods Plant in India
Purchase, Harrison, NY-based food and beverage major PepsiCo, commissioned its largest greenfield foods plant in India's northern state of Uttar Pradesh. Built at a cost of $130 million the foods plant marks Pepsico's largest single manufacturing investment in India The facility is spread across 29 acres in the town of...
PepsiCo Invests $71 million to Double Its Snack Business in India
PepsiCo India announced plans to invest $71 million over three years to set up a greenfield snacks manufacturing plant in India's northern state of Uttar Pradesh. The new investment plan aligns with PepsiCo’s goal to double its snacks business in the country by 2022. The project will entail 'backward integration'...
Singapore Fund Invests in India's Infrastructure Sector
Singapore’s sovereign wealth fund GIC will invest over $600 million for a 49 percent stake in a private Infrastructure Investment Trust controlled by IRB Infrastructure Developers headquartered in Mumbai. As part of the transaction, IRB will transfer nine of its Build-Operate-Transfer assets into the Investment Trust in which IRB will...