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Apple iPhone manufacturer Foxconn has ended its planned joint venture with Indias Vedanta company, an almost $20 billion project to boost chip production in the country.

Foxconn has announced its withdrawal from a $19.5 billion semiconductor joint venture with Indian metals-to-oil conglomerate Vedanta

A news report from Reuters has revealed the reasons for the withdrawal of Foxconn from its $19.5 billion semiconductor JV with Vedanta

India has made chipmaking top priority for its economic strategy and this pullout is a blow to efforts to get investors.

European stocks closed higher on Monday, led by gains in energy sector. Investors shrugged off data showing a drop in eurozone investors sentiment, and picked up stocks amid hopes the Chinese government will announce more stimulus to boost the economy.

European stocks closed higher on Monday, led by gains in energy sector. Investors shrugged off data showing a drop in eurozone investors sentiment, and picked up stocks amid hopes the Chinese government will announce more stimulus to boost the economy.

TAIPEI/BENGALURU :Taiwan's Foxconn has withdrawn from a $19.5 billion semiconductor joint venture with Indian metals-to-oil conglomerate Vedanta, it said on Monday, in a setback to Prime Minister Narendra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.The world's largest contract electronics maker signed a pact with Vedan

The company said it would also take the display glass manufacturing venture from its holding company, which is Volcan Investments.

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