Foxconn Drops $19.5 Billion Vedanta Chip Plans in India; Centre Says No Impact on Semiconductor Goals
Taiwan's Foxconn announced it has withdrawn from a $19.5 billion joint venture with Indian metal-steel conglomerate Vedanta
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Taiwan's Foxconn announced it has withdrawn from a $19.5 billion joint venture with Indian metal-steel conglomerate Vedanta
'Both Foxconn n Vedanta have significant investments in India and are valued investors who are creating jobs and growth,' says Rajeev Chandrashekhar
"This decision of Foxconn to withdraw from its JV with Vedanta has no impact on India's Semiconductor Fab goals. None," Chandrasekhar tweeted.
Every country realizes the importance of producing skilled chip designers who could decide their success as soldiers by creating advanced AI chips for winning the Chip War. Also, every country is now gearing up to build a good semiconductor manufacturing ecosystem to balance the global semiconductor supply chain that could overcome any more supply chain disruptions experienced during the pandemic.
Experts perceive the India-US partnership as a part of “China-plus-one” strategy to counter the growing Chinese influence on the global semiconductor supply chain by providing a robust alternative. iCET could be a game-changer in this direction