The Vedanta Group and Foxconn both known companies have independently applied to the Indian government to set up semiconductor manufacturing facilities in India. This step follows their collaboration. Aims to strengthen India’s capacity, for producing semiconductors thereby supporting the country’s technological progress.
Natural resources conglomerate Vedanta Group and Taiwanese electronics contract manufacturer Foxconn have separately applied to the government for the establishment of semiconductor fabrication facilities, in India according to sources.
Sources also revealed that both companies have provided information about their proposed technology partners and funding for the chip fabrication units. The government is currently reviewing their proposals. Engaging in discussions with them to address any matters.
earlier it was reported in the media that Foxconn has partnered with European company STMicroelectronics NV to bid for the construction of a semiconductor factory in India. The partnership aims to establish a 40nm chip plant as per the report.
Previously Vedanta Group and Foxconn had formed a venture called Vedanta Foxconn Semiconductors Ltd with plans to establish a chip fabrication unit in Gujarat. However, after a year, Foxconn withdrew from the venture while expressing continued commitment to setting up a chip fabrication facility in India. The collaboration between Foxconn and Vedanta was one of the participants in the government’s strategically important India Semiconductor Mission announced in February 2022.
In June this year media reports suggested that there were concerns within the partnership between Vedanta Group and Foxconn due, to viability issues raised by Foxconn.
In response, to questions from the media, a spokesperson from Vedanta had expressed their confidence in fulfilling all of the company’s debt responsibilities.
According to sources cited by media Foxconn notified the Ministry of Electronics and Information Technology in July about their plans to establish 4 to 5 chip production lines, in India. Additionally, Foxconn informed the IT ministry about two memoranda of understanding that they had already signed with partners.
