| | | | | | Foxconn CEO Young Liu has been making the rounds in India, and Bengaluru seems to be one of his favourite destinations. And like always, your friendly AI Human, Amit Raja Naik, has got all the deets. | | | | | | | | | | | | This year has been particularly interesting for Foxconn in India. Liu was awarded the Padma Bhushan, the third-highest civilian honour on Republic Day, thanks to the conglomerate’s extensive operations in India. Receiving Liu in Bengaluru on Friday, the state large and medium industries minister MB Patil said, “Foxconn has extensive investment plans for Karnataka, and this visit is part of the detailed discussions related to those plans.” For ‘Project Elephant’, Foxconn's code name for the factory under construction in Bengaluru, the conglomerate has purchased 300 acres of land in the ITIR Industrial Area in Devanahalli, with a projected total investment of INR 22,000 crore and the creation of 40,000 jobs. While the factory is being built to manufacture iPhones, with an estimated 20 million units being churned out annually, it still highlights the fact that the company sees Bengaluru as a viable investment opportunity. Highlighting this, Karnataka chief minister Siddaramaiah (who is now in a soup) announced that Foxconn would be establishing yet another factory in the city. This time, nicknamed Project Cheetah, the facility will focus on the manufacturing and assembly of mechanical components used for electric vehicles. As part of this, the company has already leased private land within the Bengaluru district. | | | | | | | | | While India is positioning itself as an all-rounder in terms of manufacturing with campaigns like ‘Made In India’, it’s also projecting itself as an alternative to China when it comes to manufacturing. Bengaluru, the Silicon Valley of India, has also been using this to its advantage. The city, and the state by extension, has moved away from being just a hub for several startups, including AI startups. With the recent Foxconn development, the city as a whole has started shifting towards providing the infrastructure needed to build a solid ground for the industries sprouting within, with a drastic shift towards manufacturing. The manufacturing of iPhones and EV components is just the beginning when it comes to Foxconn and other conglomerates, as they eye Bengaluru’s growing talent and resource pool, and openness to investment, as positives for establishing their own factories. | | | | | | | First iPhones, Now EVs. What Next? | | | | | The chief minister said it best during his meeting with Liu, “Karnataka has established itself as a powerhouse in the Electronics System Design and Manufacturing (ESDM) sector, contributing significantly to India’s electronics manufacturing output and exports. “Our state offers a competitive advantage with efficient logistics, reliable power supply, a skilled workforce, and a robust vendor base to support dynamic industries like Foxconn’s.” This is unsurprising, as in his budget speech earlier this year, the CM said that the aim is to lead in attracting investments from the IT/BT, AI automobile and semiconductor industries. “In this field, we will lead the country by example. This is our kayaka [duty],” he said. Now, what lies next is open to interpretation. The recent investments add to the growing belief that the Bengaluru-Mysuru hub is being groomed into a semiconductor manufacturing facility. On the other hand, a similar deal fell through for Mysuru. Abu Dhabi-based Next Orbit Ventures and Israel’s Tower Semiconductor had planned on setting up a semiconductor chip-making facility in the Tier-2 city, which eventually failed as well. However, the two failed deals could serve as a major opportunity for both Bengaluru and the conglomerate. It remains to be seen how the discussions with the chief minister will materialise. While both Telangana and Tamil Nadu are potential candidates for setting up the HCL-Foxconn factory, Bengaluru’s inclusion in Liu’s visit strongly suggests that Karnataka could soon get a semiconductor facility of its own. Enjoy the full story here. | | | | | | | Bengaluru AI Startup Powers AWS, Microsoft, Databricks, and Moody’s | | | | | | | With over 6,000 stars on GitHub and an active 1,300-member strong Discord community, Ragas was co-founded by Shahul ES and his college friend Jithin James. The YC-backed Bengaluru-based AI startup is building an open-source stand for the evaluation of RAG-based applications. Several engineering teams from companies such as Microsoft, IBM, Baidu, Cisco, AWS, Databricks, and Adobe rely on Ragas’ offerings to make their pipeline pristine. Ragas already processes 20 million evaluations monthly for companies and is growing at 70% month over month. Know more about Ragas here. | | | | | | | | | | | | | Cypher 2024 marks a significant expansion as it celebrates its 8th edition by branching out to the USA in addition to its already established presence in India. Browse through the links below to learn more about the different editions of Cypher 2024. These links will guide you to comprehensive event information, including agendas, speakers, registration details, and more. | | | | | Enjoying Sector 6 (formerly AIM Daily XO)? Share it with colleagues or friends – they can sign up here. We love hearing from our readers! Have thoughts on our new format? Questions, comments, or ideas are always welcome. If there’s a specific topic in AI or analytics that you're curious about, tell us! Reach out to us at info@analyticsindiamag.com. Stay tuned for more insights in our next edition!
Curated with ♥️ in Namma Bengaluru | | | | | | | | |
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