TAIPEI/MUMBAI :Taiwan's Foxconn said it intends to apply for incentives under India's semiconductor manufacturing plan, a day after parting ways with Vedanta on a $19.5 billion chipmaking joint venture.Foxconn withdrew from the JV with Indian metals-to-oil conglomerate Vedanta on Monday, in a setback to Prime
TAIPEI/MUMBAI :Taiwan's Foxconn said it intends to apply for incentives under India's semiconductor manufacturing plan, a day after parting ways with Vedanta on a $19.5 billion chipmaking joint venture.
"We have been actively reviewing the landscape for optimal partners," it said in a statement."Foxconn is committed to India and sees the country successfully establishing a robust semiconductor manufacturing ecosystem." "The company will continue to be there, just that it will find other partners," one of the people said.
The $3 billion ISMC project is stalled because Tower is being acquired by Intel, while another $3 billion plan by IGSS was also halted because it wanted to re-submit its application, Reuters has reported.Explaining its breakup with Vedanta, Foxconn said"there was recognition from both sides that the project was not moving fast enough" and there were other"challenging gaps we were not able to smoothly overcome", without giving more details.
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