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India's minister said both Foxconn and Vedanta have significant investments in India and are valued investors who are creating jobs and growth
A day after announcing withdrawal from its chip-making JV with Indian conglomerate Vedanta, Foxconn on Tuesday said it is working on plans to apply for incentives under semiconductor and display fab programme, as the contract manufacturer pledged its commitment to India. The Taiwanese electronics manufacturing giant said it has been actively reviewing landscape for optimal partners. The comment assumes significance as Foxconn has pulled out from the $19.5 billion semiconductor JV with Vedanta.
It is pertinent to mention that the Vedanta Foxconn JV had announced setting up of India's first electronic chip manufacturing unit in Gujarat., Companies News, Times Now
Foxconn's withdrawal from its joint venture with Vedanta has no impact on India's semiconductor fabrication plant goal, according to Minister Rajeev Chandrasekhar
'Both companies can & will now pursue their strategies in India independently'