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The decision of Taiwan's Foxconn to withdraw from a $19.5 billion chip-making venture with Vedanta will have no impact on India's goals in the semiconductor space, Union Minister Rajeev Chandrashekar has said.
Vedanta and Foxconn terminated their joint venture to make semiconductors in India by "mutual agreement" to "explore more diverse development opportunities," the Taiwanese component maker said on Monday.
Union Minister of State for Electronics and Technology, Rajeev Chandrasekhar, has however assured that Foxconn's withdrawal will not hinder India's semiconductor fabrication goals.
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'