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Vedanta and Taiwan's Innolux are set to produce LCD displays in India after government approval, with mass production expected within 18-24 months. The joint venture aims to establish a manufacturing unit at an estimated cost of USD 3-4 billion. The proposal, submitted to the Ministry of Electronics and IT, seeks incentives under the semiconductor and display fab ecosystem program.
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In a blow to president trump's bid to bring manufacturing jobs back to the united states, taiwanese electronics giant foxconn is reconsidering plans to make lcd displays at its $10 billion facility. they announced instead of the sight being used f-- site being production, it will be staffed by scientists and engineers. in a statement, foxconn says it remains committed to wisconsin and the jobs, but because the global economy has shifted, this has necessitated the adjustment of plans of all projects.
$10 billion. [ cheers ] >> that was the president announc a factory in wisconsin, huge victory for trump's promise to bring manufacturing jobs to the united states. it could potentially employ up to 13,000 workers and it will receive $3 billion in tax breaks. i'm going to say that one more time. $3 billion in tax breaks and other subsidies over the next 15 years. i want to bring in cnbc contributor ron insana. tell us about the company and this deal. >> they make liquid crystal displays, lcd displays for a variety of electronics, like the apple iphone and other things. foxconn in its domain co...