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Foxconn Withdraws From $19.5 Billion Chip Joint Venture With Vedanta

by Editor July 10, 2023, 1:35 pm 2k Views

Foxconn Withdraws From $19.5 Billion Chip Joint Venture With Vedanta: Details

Taiwan’s Foxconn has withdrawn from a $19.5 billion (roughly Rs. 1,61,133 crore) semiconductor joint venture with Indian metals-to-oil conglomerate Vedanta, it said on Monday in a setback to Prime Minister Narendra Modi’s chipmaking plans for India.

Foxconn, the world’s largest contract electronics maker, and Vedanta signed a pact last year to set up semiconductor and display production plants in PM Modi’s home state of Gujarat.

“Foxconn has…

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