The Tech Panda takes a look at how India has been attracting foreign businesses from business hubs like the UK, Norway, Taiwan & the US stemming from the country’s needs in power demand and semiconductors. At the same time, Indian companies are expanding to Dubai and Turkey by providing solutions healthcare and engineering.
In November IndiGrid, India’s first and largest listed power sector infrastructure investment trust (InvIT), deepened its partnership with British International Investment (BII), the UK’s development finance institution and impact investor, and the Norwegian Climate Investment Fund, managed by Norfund, to form a new platform, EnerGrid. This platform will focus on bidding and developing greenfield transmission and standalone Battery Energy Storage System (BESS) projects in India.
The Indian transmission sector is experiencing a significant uptick in its bidding and development momentum on the back of the country’s increasing power demand, changing energy mix and focus on energy transition. According to the latest estimates released by Central Electricity Authority (CEA), India will require an additional 170,000 circuit kilometers of transmission lines and 47 GW of BESS capacity over the next eight years to facilitate evacuation of its growing generation capacity.
With the EnerGrid platform, IndiGrid, BII and Norfund, alongside KLP through KNI India AS, have committed approximately USD 300 million, with each partner contributing around USD 100 million. This capital will enable EnerGrid to target projects worth approximately USD 1.2 billion over the next few years. Post commencement of commercial operations, these projects will be fully acquired by IndiGrid at a pre-agreed enterprise value.
Commenting on the partnership, which was signed during COP29, Harsh Shah, Chief Executive Officer, and Whole Time Director of IndiGrid, quoted: “Indian power sector is going through a metamorphosis to facilitate achievement of the country’s net zero goals. The transmission sector is witnessing a bidding pipeline like never before which we are looking to leverage to drive growth. This partnership will ensure that while IndiGrid continues to look for synergistic brownfield projects to acquire, we can also meaningfully create a growth pipeline for us in the under-construction space. We are delighted to have partnered with reputed names like BII and Norfund as they will lend their credibility to the new platform while guiding it in implementation of best-in-class ESG and corporate governance practices.”
RRP Electronics Limited, a semiconductor company, signed a MoU with AMB, Taiwan to collaborate on complete technology agreement for Memory modules – SPI NAND, MICROSD, EMMC, and SSD and production to the tune of US$25 M to start with initially. With extended capacities from 2GB onwards, the technology covers complete package structure details, substrate designs, test program development and supporting tool design.
Rajendra Chodankar, Chairman of RRP Electronics Limited said, “RRP Electronics is excited to partner with AMB, Taiwan. This association which will be deployed immediately at our OSAT facility will have these parts being supplied to Samsung and many leading giant corporates. The OSAT facility by virtue of this association promises a US$25 M revenue per annum in the coming times.”
The company’s 40,000 sq.ft. state of the art OSAT facility at Mahape is operational since September 2024. Besides, the company is going to add more production lines at its new plant at MIDC, Taloja, which is expected to be operational within the next two years.
Provivi, a US company in pheromone-based crop protection, and Godrej Agrovet Limited (GAVL), an Indian R&D focused food and agri-business conglomerate, tied up to deliver sustainable pest control solutions tailored for India’s critical rice and corn farmers.
Under this collaboration, GAVL would be introducing sustainable solutions in India. The company will distribute Provivi’s YSB Eco-Dispenser, specifically designed to control Yellow Stem Borer (YSB) in rice and will hold exclusive commercialization rights for the FAW Eco-Dispenser targeting Fall Armyworm (FAW) in corn in India. These pheromone-based technologies will provide Indian farmers with advanced, environmentally friendly pest management tools, supporting the livelihoods of millions of growers who depend on rice and corn cultivation.
Balram Singh Yadav, Managing Director, GAVL, said, “With changing climatic conditions leading to increased pest challenges, it’s more important than ever to empower Indian farmers with innovative, sustainable technologies that enhance productivity.”
Rice and corn are essential crops in India, playing pivotal roles in national food security and the economy. As a major player in the global rice market and a significant producer of corn for various industries – including food, animal feed, and manufacturing – India is well-positioned to benefit from innovations in sustainable pest management.
The Provivi YSB and FAW Eco-Dispensers are developed using biodegradable materials, ensuring long-lasting efficacy while minimizing environmental impact. These products will be available to Indian farmers in 2029.
4baseCare, an Illumina Accelerator Company, that offers cutting-edge precision oncology solutions using advanced genomics and digital health technology, launched operations in Dubai by establishing a state-of-the-art genomics lab at Dubai Science Park, in collaboration with Innovate Life Sciences.
This expansion is in line with 4baseCare’s strategic plan to strengthen its footprint across Southeast Asia and the Middle East. The recent $6 million fund raise from Yali Capital has played a pivotal role in fueling this growth and paving the way for further expansion across other international geographies.
Iqbal Khan, CEO of Fajr Capital, expressed, “This partnership and cancer genomics services launch is more than a scientific milestone; it’s a profound step forward in the fight against cancer for individuals and families across the Middle East.”
Marwan Abdulaziz Janahi, Senior Vice President of Dubai Science Park at TECOM Group, said, “As the address of collaborations such as Innovate Life Sciences with 4baseCare, Dubai Science Park’s community is enabling healthcare advancements to benefit patients, in line with the goals of Dubai Research and Development Programme and Dubai Economic Agenda ‘D33’.”
Hitesh Goswami, CEO of 4baseCare, said, “Our new partnership at Dubai Science Park is a collaborative effort to manage the economic burden of cancer and expand access to cancer care. The rising costs of controlling cancer is an undeniable challenge for the ME region. The long-term sustainability of oncology care will require the collaboration of various stakeholders. With this partnership, we are fully committed to helping clinicians and patients in the Middle East access the best that precision oncology has to offer,” Hitesh added.
Logic Fruit, an Engineering, Research & Development (ER&D) company tied up with ElectraIC, a specialist in ASIC/FPGA, embedded systems, and Functional Safety Compliance to jointly provide reliable engineering solutions in Turkey.
With this partnership, Logic Fruit and ElectraIC will combine synergies to deliver robust support for Aerospace & Defense, Test & Measurement, Telecommunications, and Semiconductors, focusing on leveraging expertise in FPGA technology, AI/ML, and functional safety compliance.
Delighted with the partnership, Shashank Chaurasia, Director of Technical Marketing of Logic Fruit said, “Our partnership with ElectraIC is a significant step towards bolstering our presence in Turkey which is ripe for innovation and demand for advanced engineering solutions. By combining our expertise in FPGA and high-performance computing with ElectraIC’s functional safety strengths, we’re confident in delivering solutions that will drive meaningful technological advancements across industries in the new market.”
Furthermore, the partnership is a strategic step to meet Turkey’s growing demand for reliable, cutting-edge engineering solutions.
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