Sayan Chakraborty

Bangalore

Business Reporter at Nikkei Asia

@NikkeiAsia business reporter in India; usual disclaimers

Articles

Intel’s race for second and India’s deep tech funding crunch

3 weeks ago | ft.com | Yifan Yu |Krishn Kaushik |Chris Kay |Cheng Ting-Fang |Lauly Li |Sayan Chakraborty

Hello from California, this is Yifan, your #techAsia host this week.
India approves Foxconn-HCL semiconductor JV setup

3 weeks ago | asia.nikkei.com | Sayan Chakraborty

BENGALURU -- India on Wednesday approved the establishment of a new semiconductor factory by Taiwanese contract manufacturer Foxconn and local company HCL Technologies, in line with the government's strategy to position the country as an electronics manufacturing hub. The new joint venture will require a total investment of 37 billion rupees ($433 million), the government said.
India approves setup of Foxconn-HCL semiconductor JV

3 weeks ago | asia.nikkei.com | Sayan Chakraborty

BENGALURU -- India on Wednesday approved a new semiconductor factory set up by Taiwanese contract manufacturer Foxconn and local technology company HCL. The move is in line with the strategy laid out by the government of Prime Minister Narendra Modi to establish the country as an electronics manufacturing hub.
India's deep tech startups fight for funding in a retail-dominated market

3 weeks ago | asia.nikkei.com | Sayan Chakraborty

BENGALURU -- Arjun Rao wanted to go off the beaten track with his venture capital firm Speciale Invest, convinced that he could strike gold with startups dealing in robotics, rockets and chips and other complex technologies loosely called "deep tech."Not many people in India shared his enthusiasm. Most money from global VCs flowed into e-commerce and food delivery ventures, and it took Rao two and a half years to close Speciale's first fund, of $8.5 million, in February 2019.
Indian billionaire Binny Bansal bets on consumer business in Asia

2 months ago | asia.nikkei.com | Sayan Chakraborty

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Elon Musk firms up India entry plans as trade talks make headway

2 months ago | asia.nikkei.com | Sayan Chakraborty

BENGALURU -- Elon Musk is speeding up the India entries of satellite internet service Starlink and electric carmaker Tesla now that the Donald Trump ally and New Delhi are finding ways around trade hurdles that earlier dissuaded the American billionaire. Analysts say Musk is likely to benefit from his growing clout in Washington as India and the U.S. negotiate a trade deal.
India's consumer loan growth slows as wage increases disappoint

Mar 2, 2025 | asia.nikkei.com | Sayan Chakraborty

BENGALURU -- A growing number of Indians are tempering their aspirations and shunning debt-fueled lifestyle upgrades, as stunted wage growth, stubborn inflation and high interest rates begin to bite. Their caution spells trouble for India's banks, which are now staring at a sharp slowdown in consumer credit growth, which could crimp their profits.
Setbacks for Adani cast shadow on India's soft power

Feb 24, 2025 | asia.nikkei.com | Sayan Chakraborty

BENGALURU/BANGKOK -- New Delhi's soft power diplomacy to counter China's growing clout is facing headwinds, experts say, as Indian conglomerate Adani Group recently suffered a series of setbacks in its global ambitions. Lower middle income countries like Kenya and Sri Lanka have snubbed the conglomerate's investment proposals running up to $3 billion since November, after the U.S. indicted Gautam Adani, billionaire and chairman of the group, and other group executives on bribery charges.
Indian stocks fall as sluggish middle-class spending hurts economy

Feb 2, 2025 | asia.nikkei.com | Sayan Chakraborty

BENGALURU -- India's slowing economy is taking the shine off the country's stock markets after a monthslong bull run, erasing roughly $700 billion in market value from companies listed on the Bombay Stock Exchange versus the peak in September last year. Sluggish middle-class consumption is behind the slowdown.
Suzuki, Hyundai, VinFast to expand EVs in India as global market slows

Jan 22, 2025 | shorturl.at | Sayan Chakraborty

NEW DELHI -- Automakers are lining up new electric car models in India -- where stricter emission rules are slated to take effect in 2027 -- hoping that bigger batteries and swanky features will spark sales in the world's third largest auto market as EV sales slow down in other developed countries.