GE set to make engines for LCA in India – Reuters; India reopens window for semicon fab proposals
US President Joe Biden’s administration is preparing to approve a deal that would allow General Electric (GE) to manufacture jet engines for Indian military aircraft in India, Reuters reports exclusively. Meanwhile, after setbacks to two major proposed projects, The India Semiconductor Mission is reopening its application window for semiconductor fab proposals starting today, Mint reports. Also in this report, the US is funding eight pilot projects aimed at developing nuclear fusion; and Capillary Technologies has raised $45 million in fresh funding. Notes: Sam Altman, the CEO of OpenAI, is expected to visit India and participate in an event hosted by Economic Times and sponsored by Tata Consultancy Services, according to announcements that have appeared in the newspaper for the past few days. The event is scheduled for June 7 in New Delhi. India has launched a pilot project called Electronics Repair Services Outsourcing (ERSO) to make India the global repair hub. The project, supported by the Ministry of Electronics & IT, aims to attract outsourced repair services for ICT products and generate revenue of up to $20 billion over the next five years. US President Joe Biden’s administration is preparing to approve a deal that would allow General Electric (GE) to manufacture jet engines for Indian military aircraft in India, Reuters reports exclusively. The agreement, which is expected to be announced during Indian Prime Minister Narendra Modi's visit to the United States on June 22, aims to deepen military and technology ties between the two countries as a counterweight to China's influence in the region. Meanwhile, India's plans to establish semiconductor manufacturing facilities have suffered setbacks as two major projects face hurdles, Reuters reported yesterday in a separate report. A $3 billion facility by chip consortium ISMC, with Israeli chipmaker Tower as a partner, has been stalled due to Intel's ongoing takeover of Tower. Additionally, a $19.5 billion joint venture between India's Vedanta and Taiwan's Foxconn is progressing slowly, with talks to involve European chipmaker STMicroelectronics deadlocked. The India Semiconductor Mission (ISM) is reopening its application window for semiconductor fab proposals starting today, Mint reports. This decision comes after the initial application period in January 2022 yielded only three applicants for 28nm fabs. In some renewable energy news, The US Department of Energy yesterday said that eight American companies working on nuclear fusion energy will receive $46 million in taxpayer funding to pursue pilot plants. These plants aim to generate power from fusion, a process that mimics the energy source of the sun and stars. Capillary Technologies, a Bengaluru SaaS company in the loyalty management space, has secured $45 million in funding to expand globally and pursue mergers and acquisitions, TechCrunch reports. Led by Avataar Ventures, the Series D round saw participation from Pantheon, 57Stars, Unigestion, Filter Capital, and Innoven Capital. Capillary Technologies, founded in 2012, offers loyalty management and customer engagement solutions.