Page 3 - Semiconductor Fab News Today

India News: Unlike on previous occasions, a friendly fight took place between Congress communication chief Jairam Ramesh and BJP information technology head Amit

Indias minister said both Foxconn and Vedanta have significant investments in India and are valued investors who are creating jobs and growth

Foxconn and Vedanta hoped to build chips in a new plant in Gujarat, the home state of the country's prime minister

Vedanta was to hold the majority stake in the JV, according to the MOU signed between the two companies.

Taiwanese electronics manufacturing giant Foxconn and mining behemoth Vedanta are committed to the semiconductor mission and the Make-in-India programme of the country, Union Minister of Electronics and IT Ashwini Vaishnaw said on Monday.

The decision of Taiwan's Foxconn to withdraw from a $19.5 billion chip-making venture with Vedanta will have no impact on India's goals in the semiconductor space, Union Minister Rajeev Chandrashekar has said.

Vedanta and Foxconn terminated their joint venture to make semiconductors in India by "mutual agreement" to "explore more diverse development opportunities," the Taiwanese component maker said on Monday.

Union Minister of State for Electronics and Technology, Rajeev Chandrasekhar, has however assured that Foxconn's withdrawal will not hinder India's semiconductor fabrication goals.

Foxconns withdrawal from its joint venture with Vedanta has no impact on Indias semiconductor fabrication plant goal, according to Minister Rajeev Chandrasekhar

Both companies can & will now pursue their strategies in India independently