Also in this letter:
■ TCS to get lion’s share of BSNL deal
■ In charts: Growth in tech sector salaries
■ Cross-border listing of startups suggested at G20
Auto companies plan $10 billion capex on EV capacity by 2030
As electrification in the automotive industry takes off globally, automakers in India are also gearing up to build end-to-end EV infrastructure by 2030 to cater to the needs of the burgeoning industry.
Driving the news: Automakers will pump in $10 billion (Rs 80,000 crore) to build this infrastructure, according to data compiled by ET Intelligence Group. This capex is also being prompted by the government’s nudge to ditch pure internal combustion engines in favour of battery-operated vehicles.
Tentative plans: The tentative plans of carmakers show they are planning to create capacity of around 2 million EVs, taking the cumulative installed capacity to around 7.2-7.5 million units by 2030.
Meanwhile, two-wheeler makers are bracing to create capacity for 15.5 million EV units, which would be equivalent to nearly two-third of the cumulative installed capacity of internal combustion engine (ICE) powered two-wheelers.
Who is doing what: Maruti, which is leading the capex charge — plans to increase its installed capacity to around four million units from 2.25 million and is likely to make an investment of Rs 45,000 crore.
Mahindra and Tata Motors have announced EV capex of Rs 10,000 crore and Rs 15,000 crore respectively to be incurred over the next five-seven years. Korean carmaker Hyundai recently committed to spend $2.45 billion (Rs 20,000 crore) over the next 10 years in Tamil Nadu.
EU’s $1.3B fine on Meta is one of many penalties on Big Tech globally
Big Tech companies worldwide have come under the lens of antitrust regulators, policymakers, and enforcement agencies amid concerns about privacy violations, data protection, abuse of market dominance and geopolitical tit-for-tats.
ETtech put together some of the key rulings and fines against such companies and looked at the underlying concerns that have increased their legal woes in the recent past.
Meta’s tryst with EU: On Monday, the European Union fined Facebook parent Meta a whopping $1.3 billion for violating privacy norms governing the transatlantic flow of data from the EU to the US.
Google’s battle in India: Tech giant Google was fined over Rs 2,200 crore in October last year on allegations of abusing its market position in India. Since then, it has been embroiled in a legal battle with the Competition Commission of India, startup bodies and industry tribunals. The high commission it charges is the main point of contention.
TikTok staring at a ban: Short video-sharing platform TikTok is perhaps the Big Tech firm that is under the maximum scrutiny from regulators across the globe. All of them have one concern — that the data acquired by TikTok is used by Chinese authorities as TikTok parent ByteDance has close links with the mainland.
TCS to pocket about 80% of Rs 15,000 crore BSNL order
IT bellwether Tata Consultancy Services (TCS) is expected to be the main beneficiary of the Bharat Sanchar Nigam (BSNL) 4G deployment deal, sources told ET. This would fetch it 70-80% share of the deal.
Catch up quick: ET reported on Monday that TCS has received an advance purchase order (APO), valued at over Rs 15,000 crore, from BSNL. The TCS-led consortium that will deploy this order includes the Centre for Development of Telematics (C-DoT) and Tejas Networks.
Tell me more: “TCS will get around 70-80% of the deal value while passing on the rest to other members of the consortium,” a source told ET. “The nature of such deals involves multiple milestones and stages of completion, and remaining purchase orders will be issued accordingly.”.
Significance: This deal will potentially pitch the Tata Group consortium as a homegrown telecom network solutions provider against global players Ericsson, Nokia, Huawei, and others.
Also read | BSNL deal will propel TCS’ global telecom offerings: TCS COO
In charts: Rise in salaries of tech employees
Salaries across the technology and telecom sectors grew by 9% and 10% in FY23, respectively, although specific roles have seen stronger growth, according to the Jobs and Salary Primer report by staffing firm TeamLease, which was made available exclusively to ET.
Additionally, the pay gap between temporary and permanent employees in the IT and telecom sector has narrowed to as little as 2% in some cities.
Tweet of the day
G20 Group bats for cross-border listing of startups
The Startup20 Engagement Group has suggested cross-border listings of startups across G20 nations, and common accounting, governance and due diligence standards for easier cross-border startup investments in member countries.
Policy communique draft: In the first draft of the Policy Communique issued on Monday, the group has suggested policies for easy navigation of entrepreneurs across G20 nations, formulation of respective national startup policies to access each other’s markets, and making debt and venture debt products accessible to startups.
The group also proposed creating and adopting a global definition framework for startups across the G20 nations.
Quote unquote: The draft states that there exists “very little harmony in how startups are defined and the policies that support them are designed across nations”.
India has seen 40% growth in the number of registered startups — an increase of 29,000 — in the past year, taking the total number of registered startups to 95,000. Startups are registered by the Department for Promotion of Industry and Internal Trade (DPIIT).
Today’s ETtech Top 5 newsletter was curated by Megha Mishra in Mumbai and Gaurab Dasgupta in New Delhi. Graphics and illustrations by Rahul Awasthi.
