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Taiwans Foxconn said on Monday it had withdrawn from a joint venture with conglomerate Vedanta, in a blow to Indian Prime Minister Narendra Modis chipmaking plans. Here...

Taiwans Foxconn said on Monday it had withdrawn from a joint venture with conglomerate Vedanta, in a blow to Prime Minister Narendra Modis chipmaking plans.

Foxconn said on Monday it is pulling out of a joint venture with Vedanta Ltd that was set up to make semiconductors from India.

The announcement comes three days after Vedanta said it will take over from its holding company the ownership of the joint venture with Foxconn for semiconductor manufacturing.

"Foxconn has determined it will not move forward on the joint venture with Vedanta," the electronics maker said in a statement, without elaborating on the reasons.

Taiwan’s Foxconn has withdrawn from a USD 19.5 billion semiconductor joint venture with mining baron Anil Agarwal’s Vedanta Ltd as the venture struggled to get a technology partner...

Vedanta-Foxconn had got STMicro on board for licensing technology, but India's government had made clear it wanted the European company to have more "skin in the game".

Foxconn, the Taiwanese manufacturing giant, withdraws from its $19.5 billion joint venture with Vedanta in a setback to India's ambitions for domestic chip production., Technology & Science News, Times Now

BENGALURU (Reuters) -Taiwan's Foxconn said on Monday it has withdrawn from a $19.5 billion joint venture with Indian metals-to-oil conglomerate Vedant...

Most of the world's chips are manufactured in a handful of countries and India, which expects its semiconductor market to be worth USD 63 billion by 2026, is a late entrant