Inside India’s semiconductor moment; Building a space taxi

Hello,

This year, Diwali proved why it’s considered India’s economic engine.

The total festive trade this year touched Rs 6.05 lakh crore, comprising Rs 5.40 lakh crore in goods and Rs 65,000 crore in services, according to the Confederation of All India Traders. This represents a 25% increase from last year’s Rs 4.25 lakh crore in mainline retail sales.

Traders attributed higher sales volumes to reduced GST rates on daily-use items, while consumers expressed greater satisfaction with stable pricing in the survey.

The one-hour Muhurat trading on Tuesday also made a few records, with Sensex touching a 52-week high and Infosys gaining 0.69% supported by robust Q2 earnings.

On the main street, the skies turned all sorts of colours as people celebrated their hearts out. Here’s an aerial shot of Chennai on the Diwali night. Meanwhile, Jaipur looked like a city painted in gold.

ICYMI: The Pink City’s vibe during Diwali 30 years ago was as merry as it is today.

Elsewhere, the festivities ended quickly for Ola Electric promoter Bhavish Aggarwal after an FIR was registered against him before the Karnataka High Court following the death of an employee who had alleged mental harassment, workplace pressure, and non-payment of salary.

In today’s newsletter, we will talk about 

• How India can win the semiconductor race
• Building a space taxi
• Artisans preserving Gujarat’s craft legacy

Here’s your trivia for today: What Mumbai neighbourhood was earlier a mangrove swamp inhabited by Koli fishermen?

Insight

How India can win the semiconductor race

The global semiconductor industry is poised to cross $1 trillion in size by 2030. India can carve a strong niche for itself owing to four elements: talent, domestic demand, government policies, and startups.

Endiya Partners, an early-stage venture capital firm, in its report, India’s Semiconductor Moment: Perspectives from DEMO, noted that the country is poised to become a critical node in the globe’s technology supply chain. DEMO stands for Deeptech Exponential Market Opportunities.

Key takeaways:

• India now accounts for 20% of the global semiconductor talent pool with 1.5 lakh such design engineers, but this has not translated into the manufacturing side, as it holds just 0.5% of the global fabrication facilities.
• The India Semiconductor Mission (ISM), launched in December 2021 with an outlay of Rs 76,000 crore ($8.67 billion), has already mobilised Rs 16 lakh crore (around $18 billion) in private investments across 10 approved projects, creating capacity for about 90 million chips per day, according to the report.
• Venture investment rose from $5 million in 2023 to $28 million in 2024, supported by the India Deep Tech Investment Alliance’s $1 billion commitment for the next decade. The Design Linked Incentive Scheme has sanctioned Rs 803 crore for 23 projects, supporting 278 institutions and 72 startups.

Startup

Building a space taxi

Hyderabad-based Stardour Aerospace’s goal is not only to make space more accessible but also to accelerate innovation. The startup, which develops reusable in-space logistical vehicles, was founded in 2020 by Sankarsh Chanda.

From a commercial perspective, Stardour is addressing the issue of last-mile logistics— the precise orbital insertion of satellites from a launch vehicle’s drop-off orbit into their designated operational orbit.

Orbital logistics:

• At the centre of Stardour’s vision is Lucas, an orbital transfer vehicle (OTV) described by Chanda as a “space taxi.” Lucas serves as a versatile in-space mobility platform, bridging the gap between launch and mission operations.
• One of Stardour’s biggest breakthroughs is its hydrogen–oxygen propulsion thruster, based on a liquid oxygen (LOX) and liquid hydrogen (LH₂) system.
• The company is now in the midst of a funding round, aiming to raise around Rs 15–20 crore to invest in team expansion, procurement of hardware and software, construction of an in-house test facility, and completion of subsystem development and integration.

Heritage

Artisans preserving Gujarat’s craft legacy

Gujarat is home to diverse art and crafts that date back centuries. Intricate embroidery, striking applique work and painting, vibrant weaves and prints, the state has been a forerunner in showcasing the country’s vibrant heritage.

In recent years, artisans from traditional art and craft communities have been at the forefront of Gujarat’s craft renaissance. Even through seemingly insurmountable obstacles, they have learned to stay rooted in tradition while learning to embrace innovation and technology to take their art to the world beyond, and build a sustainable future for their communities.

News & updates

• Unsolicited bids: Warner Bros. Discovery Inc. has begun considering various deal scenarios in light of “unsolicited interest” the media and entertainment conglomerate has received from “multiple parties” for all or part of the company.
• Optimistic outlook: General Motors raised its profit outlook for the year, citing relief on two fronts—less pressure from tariff costs and lighter losses on electric cars, as it unwinds massive bets it made on the technology.
• Soda pop: Coca-Cola’s third-quarter results exceeded Wall Street’s expectations on resilient demand for its zero-sugar drinks and Fairlife in the US, and its sodas in some international markets despite cautious spending worldwide.

What Mumbai neighbourhood was earlier a mangrove swamp inhabited by Koli fishermen?

Answer: Dharavi

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