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Taiwans Foxconn has decided to withdraw from a $19.5 billion semiconductor joint venture with Vedanta, the latest business challenge for the Indian conglomerate led by Chairman Anil Agarwal. ...

The decision is a blow to PM Modi's ambitions of luring foreign investors to make chips in India for the first time. Read more at straitstimes.com.

Vedanta: Foxconn said it would not move forward on the joint venture with Vedanta. Foxconn is working to remove the Foxconn name from what now is a fully-owned entity of Vedanta, it said in a statement.

According to a statement issued by the company, "This is not a negative. There was recognition from both sides that the project was not moving fast enough. There were challenging gaps we were not able to smoothly overcome, as well as external issues unrelated to the project."

Company has no connection to entity and efforts to keep its original name will confuse future stakeholders, says Hon Hai Technology Group

Foxconn, officially named Hon Hai Precision Industry, is now looking for new partners

Foxconn has withdrawn from a $19.5 billion semiconductor joint venture with Vedanta Ltd as the venture struggled to get a technology partner to make chips that are used in mobile phones to refrigerators and cars

"What Vedanta needed from the very beginning was a technology provider/partner ... Foxconn doesnt have it and so was never an ideal partner for the JV," a semiconductor analyst said.

Taiwan's Foxconn has decided to withdraw from a $19.5 billion semiconductor joint venture with Vedanta, the latest business challenge for the Indian conglomerate led by Chairman Anil Agarwal. Anil Agarwal started his business in Mumbai as a scrap-metal dealer and bought his first company, a cable manufacturer, in 1976. London-headquarted Vedanta Resources controls the India unit, Vedanta Ltd. Agarwal took Vedanta Resources private in 2018.

Chipmaker GlobalFoundries has shelved its plan to appoint former Amazon executive Tim Stone as chief financial officer, it said on Tuesday, two months after choosing him. The company,...