*Step by step, Dixon is really going the Foxconn way.* That is, not just assembling parts and making end smartphones, laptops, etc, for brands, but also making the valuable components. And the most significant move in this direction is now finally officially in progress. That is a display fab! .. *See, Foxconn also walked by the same path.* And once it had grown to a massive scale, in 2016, it bought out a majority stake in Japan’s Sharp, one of the world’s largest display fab operators. Plus, as of 2023, it had signed an agreement with Vedanta to jointly build a $4-5bn display fab in Gujarat. But that fell off due to issues with Vedanta. As of 3 months ago, Foxconn, via Sharp, was looking for Indian partners to jointly build a $4-5bn display fab in India. Thus, let’s see how that pans out. .. *Meanwhile, on a similar path, Dixon’s management has officially revealed that it has reached a deal with a global tech provider for ~$ a $3 bn display fab.* The company has said they are waiting for the Govt to launch the much-awaited SEMICON 2.0 programme because the $10bn corpus of SEMICON 1.0 is already committed to various approved projects (Micron, two from Tata Group and more). And, the benefit of the programme is that the Govt provides half the capex money as a subsidy in a bid to attract non-existent industries in India and bring down imports. Plus, there are states like Gujarat, Odisha, UP and TN, which have launched their own SEMICON policies, each of which promises 50% of what Govt of India provides. .. *Thus, the ball is now in the Centre’s court.* The sooner the next round of the SEMICON programme is announced, the faster this project will proceed. .. *Support my work:* https://t.ly/SUPPORTjay *Check my work with:* - 3k+ on Decoding The Dragon (https://t.ly/chnwj) - 2.7k+ on Deepdives with Jay (https://t.ly/dwj) - 2.1k+ on BharatNama (https://t.ly/bwj) Best, Jayant Shilanjan Mundhra