The NITI Aayog has recommended fiscal incentives and import tariff reduction for electronic components to propel the domestic electronics industry to a $500 billion market by 2030. The plan aims to achieve a $350 billion finished goods production target and another $150 billion in component making, creating millions of jobs and boosting domestic value addition.
European semiconductor manufacturer STMicroelectronics downgraded its sales outlook for the year citing dwindling demand from automotive, laptop, and phone sectors. The company reported lower-than-expected first-quarter results, with revenue falling 18% to $3.46 billion. STMicroelectronics’ cautionary outlook reflects the broader trend of challenges faced by the semiconductor industry due to reduced demand from automakers and a decline in orders from electronic device companies. Investors remain cautious amid economic uncertainties and rising geopolitical tensions.
