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Congress is celebrating as if they were waiting for a moment which would delay India's ambitious foray into semiconductor manufacturing. | Latest News India
Vedanta was to hold the majority stake in the JV, according to the MOU signed between the two companies.
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.
Foxconn's withdrawal from its joint venture with Vedanta has no impact on India's semiconductor fabrication plant goal, according to Minister Rajeev Chandrasekhar