APRIL 20239The first quarter of 2023 saw a 23 percent decline in China's chip imports as the US and India increased domestic semiconductor production. According to data from the General Administration of Customs, China imported 108.2 billion integrated circuits (IC) between January and March this year, a decrease of 22.9 percent from the same time previous year, according to the South China Morning Post. The total value of chip imports decreased by 26.7 percent to $78.5 billion from $107.1 billion the previous year. "In comparison to a 4.6 percent decline a year earlier, China's IC exports decreased 13.5 percent year over year to 60.9 billion units in the first three months of 2023. According to the report, which used customs statistics, "the exports' overall value fell 17.6 percent".This notable decline illustrates how geopolitical unrest and tightened US sanctions against China have impeded trade in semiconductors between China and the rest of the globe. The Chips and Science Act, which US President Joe Biden signed into law last year, allows the US to provide $53 billion in incentives to draw more chip production.The Indian government has approved investments of Rs.76,000 crore ($10 billion) in the semiconductor and display manufacturing industries. The Gujarat government and Vedanta and Foxconn inked a Memorandum of Understanding (MoU) last year to invest Rs.1,54,000 crore in the construction of India's first semiconductor and display manufacturing facility. In line with the India-US Commercial Dialogue, an agreement was signed last month between India and the US to establish semiconductor supply chain and innovation cooperation. Malaysia's Petroliam Nasional Berhad (Petronas) withdrew its bid for a 20 percent interest in the company, NTPC aims to raise money through an initial public offering (IPO) for its green energy arm NTPC Green Energy Ltd (NGEL) in current fiscal year. One of the people remarked, "The initial public offering will be on a book building basis".REC and Indraprastha Gas were edged out by Petronas for the stake in a bidding last month, according to persons with direct knowledge of the situation. The individual said that there were more negotiations to increase the value after receiving the final bids, but the (highest) bidder withdrew it. NTPC expects to sell assets worth approximately Rs.6,000 crore in FY24. The NGEL IPO is part of the plan.The Cabinet Committee on Economic Affairs (CCEA) gave its approval on March 17 to NTPC's request to increase its stake in NGEL above the Rs.5,000 crore limit for a Maharatna corporation in its subsidiary. But the individual added that it's not as though NTPC won't hunt for strategic investors for NGEL in the future. To NGEL near the end of 20222023 were about 15 NTPC renewable energy assets. The ambitious renewable energy initiatives of India's largest power generator will be led by NGEL. To complete the projects, the organisation will work with joint ventures and subsidiaries. By 2032, NTPC hopes to achieve 130 GW of combined renewable energy capacity and 60 GW of standalone capacity. The company is also engaged in projects related to nuclear energy, green hydrogen, e-mobility, and waste-to-wealth. According to an earlier statement by NTPC, 40 GW of the 60 GW would be procured through tariff-based competitive bidding, which would also involve bundling for 24-hour power.By 2030, India has promised to lower the emissions intensity of its GDP by 45 percent and deploy around 50 percent of its installed capacity for non-fossil fuel-based energy sources. By 2030, it also intends to have 500 GW of installed non-fossil fuel capacity. It generates roughly 24 percent of the total electricity produced in India, a share of 17 percent of the installed capacity. CHINA'S CHIP IMPORTS FALL BY 23 PERCENT AS THE US & INDIA INCREASE SEMICONDUCTOR PRODUCTIONNTPC PLANS IPO FOR GREEN ENERGY ARMTOP STORIES
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