Foxconn plans $5 billion investment over 5 years in Maharashtra facility
9 years, 7 months ago

Foxconn plans $5 billion investment over 5 years in Maharashtra facility

Firstpost  

Taiwan’s Foxconn, the world’s largest contract electronics manufacturer and a key supplier to Apple, on Saturday signed a pact with Maharashtra to invest $5 billion over five years on a new electronics manufacturing facility. The Foxconn announcement will bolster Indian Prime Minister Narendra Modi’s “Make in India” campaign, which aims to turn Asia’s third-largest economy into a manufacturing powerhouse. Gou said Foxconn, the trade name for Hon Hai Precision Industry Co Ltd which also counts Blackberry, Xiaomi and Amazon as clients, was looking for local partners for the facility in the western Indian state. India could help Foxconn mitigate accelerating wage inflation in China, where it makes the majority of iPhones, and base production sites closer to markets where its key clients want to grow.

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History of this topic

Foxconn subsidiary Ennoconn joins Make In India drive, registers in Tamil Nadu as business entity
3 weeks, 2 days ago

Foxconn subsidiary Ennoconn joins Make In India drive, registers in Tamil Nadu as business entity

Firstpost  

Ennoconn’s entry occurs at a time when Foxconn is reportedly aiming to diversify beyond iPhone assembly into sectors like information and communication technology products and AI servers Foxconn, through its subsidiary Ennoconn, has made foray into the Indian market. Foxconn, the parent company, already operates the Apple iPhone assembly plant in Tamil Nadu’s Sriperumbudur taluk. Ennoconn’s entry occurs at a …

Dealing with China’s weaponisation of e-supply chains
1 month, 2 weeks ago

Dealing with China’s weaponisation of e-supply chains

The Hindu  

In mid-January this year, news emerged of China preventing travel by its citizens working as engineers and technicians in Foxconn’s facilities in India. Given the scale and the development trajectory of India’s manufacturing sector bearing potential similarities to that of the Chinese experience, Beijing realises the need to limit the rise of its geopolitical rival and also remind global corporations …

iPhone-maker Foxconn infuses ₹1,200 crore in Karnataka unit
7 months ago

iPhone-maker Foxconn infuses ₹1,200 crore in Karnataka unit

Hindustan Times  

Electronics manufacturing giant Foxconn has infused about ₹1,200 crore -- approximately USD 144 million -- into its Karnataka-based Foxconn Hon Hai Technology India Mega Development Pvt Ltd, the company said in a recent regulatory filing. FILE PHOTO: The logo of Foxconn is seen outside the company's building in Taipei, Taiwan, The iPhone contract manufacturer's Singapore-based arm Foxconn Singapore Pte has …

Minister Lokesh urges Foxconn to establish mega manufacturing city in Andhra
7 months, 1 week ago

Minister Lokesh urges Foxconn to establish mega manufacturing city in Andhra

New Indian Express  

VIJAYAWADA: Minister for Human Resource Development, Information Technology, and Electronics Nara Lokesh, who promised to create 2 million jobs for the youth, has been actively working towards fulfilling the election promise. On the occasion, Minister Lokesh informed the Foxconn representatives about the new electronics policy which would be unveiled soon. We will extend all cooperation for this,” Minister Lokesh told …

CM Siddaramaiah hosts Foxconn chief, discusses firm’s big plans for Karnataka
7 months, 1 week ago

CM Siddaramaiah hosts Foxconn chief, discusses firm’s big plans for Karnataka

New Indian Express  

BENGALURU: Chief Minister Siddaramaiah on Friday assured Taiwanese electronics manufacturer Foxconn of complete support to its projects in Karnataka, and requested the firm further invest in the state. Our government is always ready to support you, and I request that you further invest in Karnataka, which has huge investment potential,” the CM said during a meeting with Young Liu, Chief …

Eager to explore investment opportunities in proposed new city, Foxconn chairman tells Telangana CM
7 months, 1 week ago

Eager to explore investment opportunities in proposed new city, Foxconn chairman tells Telangana CM

The Hindu  

Taiwanese electronics contract manufacturing major Foxconn has conveyed interest in exploring investment opportunities in Hyderabad, especially the fourth city the government has mooted on the outskirts, to Chief Minister A. Revanth Reddy. “The Chief Minister highlighted Telangana’s new investment friendly policies and the ambitious Fourth City project, extending an invitation to Foxconn. Stating that he was impressed with Mr.Reddy’s vision …

Foxconn to build new business HQ in Henan
8 months ago

Foxconn to build new business HQ in Henan

China Daily  

Foxconn Technology Group, the world's largest electronics manufacturing contractor, plans to invest 1 billion yuan to establish a new business headquarters in Zhengzhou, Henan province, as the company is diversifying revenue sources and reducing its heavy dependence on assembling Apple's iPhones. Roger Sheng, vice-president of research at US market research company Gartner, said Foxconn is diversifying its business layout and …

Foxconn to invest 1b yuan in new headquarters
8 months ago

Foxconn to invest 1b yuan in new headquarters

China Daily  

The logo of Foxconn is seen at Longhua district, Shenzhen, Guangdong province, Sept 3, 2022. Foxconn Technology Group, the world's largest electronics manufacturing contractor, plans to invest 1 billion yuan to establish a new business headquarters in Zhengzhou, Henan province, as it has signed a strategic partnership with the provincial government. With a construction area of approximately 70,000 square meters, …

Foxconn & HCL to establish semiconductor assembly and testing unit in India
1 year, 2 months ago

Foxconn & HCL to establish semiconductor assembly and testing unit in India

Op India  

Taiwan’s Foxconn, also known as Hon Hai Precision Industry, has joined forces with India’s HCL Group to establish an Outsourced Assembly and Testing unit for semiconductor chips. Foxconn, through its subsidiary Foxconn Hon Hai Technology India Mega Development Private Limited, is set to invest $37.2 million, securing a substantial 40% stake in the joint venture, as revealed in a regulatory …

Foxconn, HCL announce JV to set up semiconductor OSAT in India
1 year, 2 months ago

Foxconn, HCL announce JV to set up semiconductor OSAT in India

Live Mint  

Taiwan’s Foxconn Technology Group and India’s HCL Group will form a joint venture to set up a semiconductor outsourced assembly and testing unit, where Foxconn will hold 40% equity with an investment of $37.2 million, the companies individually confirmed on Wednesday. “HCL Group plans to partner with Foxconn Group to establish OSAT operations in India. The partnership announcement comes a …

Foxconn Delegation Meets Telangana CM, Assures to Start Hyderabad Ops by May '24
1 year, 3 months ago

Foxconn Delegation Meets Telangana CM, Assures to Start Hyderabad Ops by May '24

Deccan Chronicle  

HYDERABAD: A delegation of the Foxconn Group, a Taiwanese company that manufactures Apple products, on Tuesday met Chief Minister A. Revanth Reddy at the Secretariat to discuss the company’s expansion plans for Telangana. The delegation, led by Foxconn's Hon Hai Precision Industry Company Limited’s representative Wee Lee, said that its manufacturing plant at Kongarakalan on the city outskirts will become …

Karnataka clears Foxconn’s total investment of ₹21,911 crore
1 year, 3 months ago

Karnataka clears Foxconn’s total investment of ₹21,911 crore

The Hindu  

Taiwan-based electronic manufacturer Foxconn’s total investment proposal of ₹21,911 crore in Karnataka was approved by the State High-Level Clearance Committee chaired by Chief Minister Siddaramaiah here on Tuesday. In all, the committee cleared investment proposals worth ₹34,000 crore that are expected to generate employment for 14,702 people. He said that while Foxconn initially had a proposal of ₹8,000 crore, the …

IPhone maker Foxconn plans ₹13,300 crore in India expansion bid
1 year, 4 months ago

IPhone maker Foxconn plans ₹13,300 crore in India expansion bid

Hindustan Times  

IPhone maker Hon Hai Precision Industry Co. plans to expand its footprint in India with another NT$50 billion investment for construction projects. The logo of Foxconn is seen outside the company's building in Taipei, Taiwan, The announcement, made in an exchange filing in Taiwan late Monday, didn’t give any further details, saying only that the investment was for “operational needs.” …

Smartphone manufacturing: How 'Make in India' is marking a difference
1 year, 4 months ago

Smartphone manufacturing: How 'Make in India' is marking a difference

Firstpost  

The decisions by the likes of Apple, Foxconn and Micron to either expand or establish their India presence could not have come at a better time As India is looking to become the third largest economy in the world in the coming years, cutting-edge technologies across 5G/6G, satellite communication and semiconductors will contribute towards this growth. More than 90 per …

Foxconn will double its investment in India as birthday gift to PM Modi
1 year, 6 months ago

Foxconn will double its investment in India as birthday gift to PM Modi

Op India  

On 17th September, Taiwanese contract manufacturing company Foxconn’s India representative, V Lee, wished Prime Minister Narendra Modi a happy 73rd birthday in a LinkedIn post and said the company plans to double its investment and people it employs in India in the next year. The company plans to double the workforce within the coming year, increase foreign direct investment and …

Foxconn’s gift to PM Modi: iPhone maker promises to hire thousands as it looks to expand in India
1 year, 6 months ago

Foxconn’s gift to PM Modi: iPhone maker promises to hire thousands as it looks to expand in India

Firstpost  

Foxconn has hinted that it plans to expand rapidly in India and will create tens of thousands of jobs by next year. Lee expressed Foxconn’s strong commitment to doubling its workforce, increasing foreign direct investment, and expanding its overall business operations in India within the next year. We will redouble our efforts to offer you an even greater birthday gift …

Foxconn backs India’s role in electronics manufacturing
1 year, 6 months ago

Foxconn backs India’s role in electronics manufacturing

Live Mint  

NEW DELHI : Foxconn Technology Group chairman Young Liu has backed India as an important country for the future of manufacturing, saying that the opportunities for the development of electronics manufacturing and industrial chains were huge. I don’t think it’s perfect to speculate from history, but we feel that development of the entire ecosystem and industrial chain, and the opportunities …

Foxconn seeks to work with STMicro to build India chip plant
1 year, 6 months ago

Foxconn seeks to work with STMicro to build India chip plant

Live Mint  

Foxconn Technology Group is teaming up with STMicroelectronics NV for a bid to build a semiconductor factory in India, seeking state backing to broaden its footprint in the South Asian country. Taiwan’s Foxconn and Franco-Italian STMicro are applying for state support for a 40-nanometer chip plant, people familiar with the matter said, asking not to be identified as the plan …

Foxconn teams up with STMicro for semiconductor plant in India: Report
1 year, 6 months ago

Foxconn teams up with STMicro for semiconductor plant in India: Report

India Today  

Foxconn Technology Group is collaborating with STMicroelectronics NV to submit a joint bid for constructing a semiconductor manufacturing plant in India, with the aim of securing state support for this endeavor, reported Bloomberg News. It may be noted that setting up semiconductor manufacturing plants is a formidable task, as these facilities entail substantial investments, often reaching billions of dollars, and …

Make in India: Dell, HP, Foxconn, and others in line for state aid in production
1 year, 6 months ago

Make in India: Dell, HP, Foxconn, and others in line for state aid in production

Live Mint  

Amid central government's push to make a manufacturing hub for the world, its financial incentive plan to boost local production is receiving good response. Indian Premier Narendra Modi’s $2.1 billion financial incentive plan — a bid to boost local production of technology hardware such as laptops, personal computers, tablets and servers — has received an overwhelming industry response, Tech Minister …

Key iPhone Assembler Foxconn's Q2 Revenue Falls 1 Per Cent Due To Weak Demand For Electronics
1 year, 7 months ago

Key iPhone Assembler Foxconn's Q2 Revenue Falls 1 Per Cent Due To Weak Demand For Electronics

ABP News  

Key iPhone assembler Foxconn has reported one per cent fall in its second quarter net profit amid weak demand for electronics globally. The company, also the world's largest contract electronics manufacturer, beat analysts' forecasts - its net profit for the April-June quarter fell to T$33 billion from a revised T$33.29 billion in the same period last year. Foxconn shares rose …

Foxconn gets board nod for $400 million investment in Telangana
1 year, 7 months ago

Foxconn gets board nod for $400 million investment in Telangana

The Hindu  

Leading contract manufacturer of electronics globally Foxconn, which operates through multiple entities, has announced board approval for a $400 million investment in Telangana, the southern State where in May it broke ground for a $500 million manufacturing facility. Telangana IT and Industries Minister shared a social media post of V. Lee, Foxconn representative in India, and said that adding the …

Foxconn to invest $400m more in Telangana
1 year, 7 months ago

Foxconn to invest $400m more in Telangana

Deccan Chronicle  

HYDERABAD: In a major boost to the state’s manufacturing sector, third-party phone and peripherals contract manufacturer Foxconn Group on Saturday announced an additional investment of $400 million into Telangana. Another $400 million is coming,” V. Lee, Foxconn’s India representative, announced on his LinkedIn wall, while sharing FIT Hon Teng Limited's 'voluntary announcement' that the company had made to the Hong …

Foxconn to invest $600 million in Karnataka to set up two plants
1 year, 7 months ago

Foxconn to invest $600 million in Karnataka to set up two plants

Op India  

Taiwanese electronic manufacturing giant Foxconn will invest $600 million, almost ₹5,000 crore, to set up two manufacturing plants in Karnataka. Apart from projects in Karnataka, the Tamil Nadu government also announced that Foxconn will invest around $200 million in a new electronic components manufacturing facility. Investment commitment to establish a mobile component manufacturing facility in Kancheepuram district for Rs 1,600 …

Karnataka-Foxconn sign Letter of Intent for two new projects worth ₹5,000 crore
1 year, 7 months ago

Karnataka-Foxconn sign Letter of Intent for two new projects worth ₹5,000 crore

The Hindu  

The Karnataka government and iPhone maker Foxconn have signed the Letter of Intent to set up two additional projects with an estimated investment outlay of ₹5,000 crore, said Large and Medium Industries Minister M.B. The intended projects include a phone enclosure project for which Foxconn Industrial Internet,, a Foxconn subsidiary, will invest ₹3,000 crore that is estimated to create 12,000 …

Foxconn inks ₹1,600-crore deal with T.N. to set up electronic components manufacturing facility in Kancheepuram
1 year, 7 months ago

Foxconn inks ₹1,600-crore deal with T.N. to set up electronic components manufacturing facility in Kancheepuram

The Hindu  

Taiwanese firm Foxconn Technology Group, a key supplier to Apple Inc., on Monday gave a commitment to the Tamil Nadu government to invest ₹1,600 crore to establish a manufacturing facility in Kancheepuram district. According to a senior government official, this MoU enables Foxconn to support research and development capabilities in partnership with IIT-M for Tamil Nadu to improve the talent …

Ecosystem for chips in India for the ‘very brave’: Foxconn Chairman Young Liu
1 year, 8 months ago

Ecosystem for chips in India for the ‘very brave’: Foxconn Chairman Young Liu

The Hindu  

The ecosystem for semiconductor chips in India is for the "very brave", Foxconn Chairman Young Liu said on Friday, as he expressed optimism about the country's semiconductor roadmap during the second edition of SemiconIndia in Gandhinagar. Earlier this month, Taiwan-based Foxconn, which also supplies for smartphone giant Apple, withdrew from a $19.5 billion semiconductor joint venture with Vedanta as the …

PM Modi meets Foxconn chief days after Taiwanese firm breaks from $20 bn JV with Vedanta
1 year, 8 months ago

PM Modi meets Foxconn chief days after Taiwanese firm breaks from $20 bn JV with Vedanta

Hindustan Times  

Foxconn chief Young Liu met Prime Minister Narendra Modi in Gujarat’s Gandhinagar on Friday, where both attended Semicon India 2023 conference. The meeting comes days after the Taiwanese company withdrew from a $20 billion joint venture - Vedanta Foxconn Semiconductors Limited - that would have brought the first chip manufacturing plant in India. PM Modi meets Foxconn chief Young Liu …

India and Japan look to collaborate in building semiconductors and resilient supply chains
1 year, 8 months ago

India and Japan look to collaborate in building semiconductors and resilient supply chains

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy India and Japan explored collaborating …

Foxconn, Micron, AMD among top chip makers to participate in Semicon India event in Gujarat on July 28
1 year, 8 months ago

Foxconn, Micron, AMD among top chip makers to participate in Semicon India event in Gujarat on July 28

Live Mint  

Top chipmakers including Foxconn, AMD, Micron and IBM will attend the Semicon India conference in Gandhinagar, Gujarat. "The event promises to be a catalyst for the semiconductor industry's progress through invaluable networking, technology demonstrations, and lucrative business prospects,", a release by the Gujarat government on the Semicon India event read. Speakers for the three-day Semicon India event include Foxconn Chairman …

Foxconn arm Fii now proposes a project with ₹8,800 crore investment at Tumakuru in Karnataka
1 year, 8 months ago

Foxconn arm Fii now proposes a project with ₹8,800 crore investment at Tumakuru in Karnataka

The Hindu  

Foxconn Industrial Internet, a subsidiary of iPhone maker Foxconn, has made a proposal to set up a plant at Tumakuru in Karnataka with an investment outlay of ₹8,800 crore. As per the fresh proposal, Fii has explored opportunities to set up a plant that would bring in an investment of ₹8,800 crore to the state and generate 14,000 jobs. The …

Foxconn unit proposes second iPhone plant in Karnataka, to invest ₹8,800 crore
1 year, 8 months ago

Foxconn unit proposes second iPhone plant in Karnataka, to invest ₹8,800 crore

Hindustan Times  

Taiwanese electronics manufacturing giant Foxconn, which is a major supplier for Apple Inc, has proposed a second manufacturing unit in Karnataka, Large and Medium Industries Minister M B Patil said on Monday. Foxconn's unit, called Foxconn Industrial Internet, will set up a second plant of around 100 acres in Tumakuru by investing around ₹ 8,800 crore. Foxconn's unit, called Foxconn …

'Legal hurdles resolved, 300-acre of land will be given to Foxconn soon': Karnataka Minister MB Patil
1 year, 8 months ago

'Legal hurdles resolved, 300-acre of land will be given to Foxconn soon': Karnataka Minister MB Patil

Firstpost  

Earlier this week, Foxconn terminated its joint venture with India’s Vedanta Group for chip production. Sources revealed that Foxconn has been in talks with TSMC and TMH for quite some time now Karnataka’s Large and Medium Industry Minister MB Patil said on Friday that the legal hurdles to establishing iPhone makers’ Foxconn factory in the state have been cleared and …

Why government financial support to semiconductor industry is essential for the sector's growth
1 year, 8 months ago

Why government financial support to semiconductor industry is essential for the sector's growth

Firstpost  

Previous governments have displayed criminal neglect for this sector, and delivering results for the Modi government will require heavy lifting not just at the central level but also at the state and regional levels When the Indian economy was opening up in the 90s, foreign direct investment in various sectors was being invited. While global and domestic companies ramped up …

Foxconn eyes partner for new chip venture
1 year, 8 months ago

Foxconn eyes partner for new chip venture

Live Mint  

New Delhi: A day after withdrawing from the $19.5 billion joint venture with Vedanta, the world’s largest contract manufacturer Foxconn said it remains committed to building India’ssemiconductor ecosystem and will begin afresh with new partners. According to Hon Hai Technology Group, better known as Foxconn the world over, said challenging gaps with Vedanta could not be solved. Foxconn Technology Group …

‘India will have a robust semiconductor-making ecosystem, we’re committed to it’: Foxconn
1 year, 8 months ago

‘India will have a robust semiconductor-making ecosystem, we’re committed to it’: Foxconn

Firstpost  

After exiting the joint venture with Vedanta, Foxconn has released a statement saying that it believes that India will successfully establish a robust semiconductor manufacturing ecosystem and that the Foxconn group is committed to grow along with India Semicon There has been a lot of speculation about Semicon India, after Foxconn pulled out of the Joint Venture it was supposed …

Foxconn to pursue India plan without Vedanta, will apply for chip making unit separately
1 year, 8 months ago

Foxconn to pursue India plan without Vedanta, will apply for chip making unit separately

Op India  

A day after breaking the joint venture deal with metal-to-oil conglomerate Vedanta group, Foxconn announced on Tuesday, 11 July, that it is committed to India and will pursue its Semiconductor manufacturing plan in the country. In its official statement, the company stated that building fabs from scratch in a new geography is a challenge, but Foxconn is committed to investing …

Foxconn plans India semiconductor unit without Vedanta, seeks ‘diverse’ stakeholders
1 year, 8 months ago

Foxconn plans India semiconductor unit without Vedanta, seeks ‘diverse’ stakeholders

Hindustan Times  

Foxconn is planning to apply separately to build a semiconductor manufacturing plant in India, the Taiwanese tech giant said on Tuesday, a day after withdrawing from a semiconductor joint venture with India's Vedanta Limited. FILE PHOTO: The logo of Foxconn is seen outside the company's building in Taipei, Taiwan, “Foxconn is working towards submitting an application related to Modified Programme …

Day after Foxconn's withdrawal from joint venture, Vedanta shares decline nearly 3% in early trade
1 year, 8 months ago

Day after Foxconn's withdrawal from joint venture, Vedanta shares decline nearly 3% in early trade

Hindustan Times  

Shares of Vedanta on Tuesday fell by nearly 3 per cent after Taiwan's Foxconn withdrew from a USD 19.5 billion semiconductor joint venture with mining baron Anil Agarwal's firm. Foxconn has withdrawn from a USD 19.5 billion semiconductor joint venture with Vedanta Ltd as the venture struggled to get a technology partner to make chips that are used in mobile …

Foxconn withdraws from its semiconductor joint venture with Indian conglomerate Vedanta
1 year, 8 months ago

Foxconn withdraws from its semiconductor joint venture with Indian conglomerate Vedanta

The Hindu  

Taiwan-based Hon Hai Technology Group on Tuesday said that it intended to submit an application under the modified Production-Linked Incentive scheme for semiconductors, a day after it announced the end of its joint venture with the Vedanta Group to build a $19.5 billion semiconductor plant in Gujarat. “Foxconn is working toward submitting an application related to the ‘Modified Programme for …

Know why Foxconn broke up with Vedanta and set up shop in Tamil Nadu
1 year, 8 months ago

Know why Foxconn broke up with Vedanta and set up shop in Tamil Nadu

Firstpost  

When Foxconn ended its joint venture with Vedanta, a narrative was being pushed, which said that the Taiwanese tech giant had no confidence in India Semicon. Foxconn’s subsequent statement and the fact that they are setting up a new plant in Tamil Nadu, proves otherwise Taiwan’s Foxconn pulling out of its joint venture with India’s Vedanta seemed to be a …

Vedanta Shares Down 3% After Foxconn Decides To Exit The Semiconductor JV; Details
1 year, 8 months ago

Vedanta Shares Down 3% After Foxconn Decides To Exit The Semiconductor JV; Details

News 18  

Vedanta hits 52-week low: Shares of Vedanta fell nearly 3 per cent after Foxconn pulled out of their $19.5 billion semiconductor joint venture. After the withdrawal of Foxconn, Vedanta said that it is fully committed to its semiconductor project and has lined up other partners to set up India’s first foundry. Minister of State for Electronics and IT Rajeev Chandrasekhar …

Foxconn to apply for India chipmaking incentives after breaking up with Vedanta
1 year, 8 months ago

Foxconn to apply for India chipmaking incentives after breaking up with Vedanta

India Today  

Taiwan's Foxconn said on Tuesday it plans to apply for incentives that India is offering under its semiconductor manufacturing policy, a day after the company parted ways with Vedanta on a $19.5 billion chipmaking joint venture. "Foxconn is committed to India and sees the country successfully establishing a robust semiconductor manufacturing ecosystem," the company said. On Monday, Foxconn withdrew from …

Foxconn pulls out of chip JV with Vedanta
1 year, 8 months ago

Foxconn pulls out of chip JV with Vedanta

Hindustan Times  

Taiwan’s Foxconn Technology Group on Monday pulled out of its joint venture with Vedanta Ltd, which had planned to invest $20 billion in India to build units for semiconductor fabrication, assembly and testing, and display manufacturing. The partnership planned to set up India’s first chip manufacturing unit under a $10 billion government-backed financial incentive scheme and was once estimated to …

As Foxconn dumps $19.5 bn chip plan, Uddhav camp's regret: ‘Maharashtra could have…’
1 year, 8 months ago

As Foxconn dumps $19.5 bn chip plan, Uddhav camp's regret: ‘Maharashtra could have…’

Hindustan Times  

The withdrawal of Taiwanese electronic contract manufacturer Foxconn from its chip joint venture has renewed the controversy surrounding Vedanta's decision to choose Gujarat over Maharashtra, with Shiv Sena hitting out at the Eknath Shinde-led government for what is called a “tragedy”. “This is a loss for India, and Maharashtra could have propelled this growth story for India,” said Thackeray, who …

Foxconn pulling plug on chip plant venture won't have impact on India's semiconductor goals: Govt
1 year, 8 months ago

Foxconn pulling plug on chip plant venture won't have impact on India's semiconductor goals: Govt

Hindustan Times  

Following the withdrawal of Taiwanese electronic contract manufacturer Foxconn from its chip joint venture with Vedanta on Monday, Union Minister of State for Electronics & Technology said that India's semiconductor fabrication goals will remain unscathed by the company's departure. Foxconn, the world's largest contract electronics maker, has decided to withdraw from a ₹1.5 lakh crore semiconductor joint venture with Indian …

Foxconn withdraws from India's semiconductor joint venture with Vedanta
1 year, 8 months ago

Foxconn withdraws from India's semiconductor joint venture with Vedanta

The Hindu  

Taiwan-based Hon Hai Technology Group, better known as Foxconn, pulled out of its joint venture with the Vedanta Group on July 10, the firm announced in a statement. “In order to explore more diverse development opportunities, according to mutual agreement, Foxconn has determined it will not move forward on the joint venture with Vedanta,” the company said in a statement. …

Foxconn drops plans for $19.5 billion JV with Vedanta to make electronic chips
1 year, 8 months ago

Foxconn drops plans for $19.5 billion JV with Vedanta to make electronic chips

Hindustan Times  

Taiwan's Foxconn said on Monday it has withdrawn from a $19.5 billion joint venture with Indian metals-to-oil conglomerate Vedanta, in a setback to Prime Minister Narendra Modi's chipmaking plans for India. Gujarat Chief Minister Bhupendra Patel, Union Minister for Communications and Electronics & Information Technology Ashwini Vaishnaw, and Vedanta Resources Limited, Chairman, Anil Agarwal during the MoU signing ceremony between …

Foxconn dumps $19.5bn Vedanta chip plan in blow to India
1 year, 8 months ago

Foxconn dumps $19.5bn Vedanta chip plan in blow to India

Al Jazeera  

India has made chipmaking a top priority for its economic strategy, and this pullout is a blow to efforts to get investors. Taiwan’s Foxconn has withdrawn from a $19.5bn semiconductor joint venture with Indian metals-to-oil conglomerate Vedanta, it said, a setback to Prime Minister Narendra Modi’s chipmaking plans for India. Modi has made chipmaking a top priority for India’s economic …

Foxconn dumps $19.5 billion Vedanta chip plan in blow to India
1 year, 8 months ago

Foxconn dumps $19.5 billion Vedanta chip plan in blow to India

India Today  

Taiwan's Foxconn said on Monday it has withdrawn from a $19.5 billion semiconductor joint venture with Indian metals-to-oil conglomerate Vedanta, in a setback to Prime Minister Narendra Modi's chipmaking plans for India. Foxconn, the world's largest contract electronics maker, and Vedanta signed a pact last year to set up semiconductor and display production plants in Gujarat. "Foxconn has determined it …

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