Foxconn pulls out of chip JV with Vedanta
1 year, 5 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 be ahead of two other consortia in the fray for getting the sops. Vedanta has redoubled its efforts to fulfil the Prime Minister’s vision for semiconductors, and India remains pivotal in repositioning global semiconductor supply chains,” the statement added. Vedanta had announced its $20 billion investment plan to set up a semiconductor chip and display manufacturing unit in Gujarat, including a display fab unit with an investment of ₹94,500 crore and an integrated semiconductor fab unit and OSAT facility with an investment of ₹60,000 crore.

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History of this topic

Vedanta plans to invest $500 million in group firm AvanStrate Inc.
1 month, 1 week ago

Vedanta plans to invest $500 million in group firm AvanStrate Inc.

The Hindu  

Vedanta Limited has announced plans to invest close to $500 million in its group company, AvanStrate Inc., which is a display glass manufacturer. “This investment is aimed at driving innovation and expansion within ASI, strengthening its focus on R&D, as well as manufacturing capabilities and product offerings to cater to global demand for advanced display glass solutions,” the company said …

Foxconn, HCL announce JV to set up semiconductor OSAT in India
11 months, 1 week 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 …

Vedanta invites Japanese firms to invest in electronics manufacturing in India
1 year, 2 months ago

Vedanta invites Japanese firms to invest in electronics manufacturing in India

Live Mint  

New Delhi: Vedanta Limited, the Ani Agarwal-led conglomerate, has invited Japanese firms to form collaborations and invest in India's “electronics manufacturing revolution”. “The demand for electronics in India is fuelled by the Indian government's initiatives such as Make in India, Digital India, and the 100 Smart Cities Mission, which aim to promote local manufacturing, digitalisation and technological advancement across various …

Foxconn’s gift to PM Modi: iPhone maker promises to hire thousands as it looks to expand in India
1 year, 3 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 teams up with STMicro for semiconductor plant in India: Report
1 year, 3 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 …

Karnataka-Foxconn sign Letter of Intent for two new projects worth ₹5,000 crore
1 year, 4 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 …

Our made-in-India chip will be ready in 2.5 years: Vedanta chairman on semiconductor plan
1 year, 4 months ago

Our made-in-India chip will be ready in 2.5 years: Vedanta chairman on semiconductor plan

The Hindu  

Vedanta group chairman Anil Agarwal on July 28 said that first phase of its semiconductor project will involve $5 billion investment of the overall $20-billion outlay, and the venture will be ready with made-in-India chip in two and a half years. "In 2.5 years, we will give you Vedanta made-in-India chips," Mr. Agarwal told reporters on the sidelines of SemiconIndia …

Vedanta To Tie Up With A World-Class Tech Partner For Semiconductor Manufacturing, Chairman Anil Agarwal Says
1 year, 4 months ago

Vedanta To Tie Up With A World-Class Tech Partner For Semiconductor Manufacturing, Chairman Anil Agarwal Says

News 18  

Indian conglomerate Vedanta’s Anil Agarwal on Friday outlined ambitious semiconductor manufacturing plans for India, saying that the global mining company has identified a world-class technology partner and is in the process of tying up with them, its Chairman Anil Agarwal said on Friday. “For semiconductor we have identified world class partner, we have already identified a world class partner for …

'Legal hurdles resolved, 300-acre of land will be given to Foxconn soon': Karnataka Minister MB Patil
1 year, 5 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, 5 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, 5 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 …

Foxconn plans India semiconductor unit without Vedanta, seeks ‘diverse’ stakeholders
1 year, 5 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, 5 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, 5 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, 5 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, 5 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, 5 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 …

As Foxconn dumps $19.5 bn chip plan, Uddhav camp's regret: ‘Maharashtra could have…’
1 year, 5 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, 5 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, 5 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, 5 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 $19.5 billion Vedanta chip plan in blow to India
1 year, 5 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 …

Foxconn dumps $19.5bn Vedanta chip plan in blow to India
1 year, 5 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 …

'India just getting started': Minister as Foxconn dumps $19.5 billion chip plan
1 year, 5 months ago

'India just getting started': Minister as Foxconn dumps $19.5 billion chip plan

India Today  

Taiwan’s Foxconn’s decision to withdraw from a $19.5 billion semiconductor joint venture with Indian conglomerate Vedanta “has no impact on India's Semiconductor Fab goals”, the government said today, adding that it was “a bad idea to bet against India under PM Modi”. Foxconn, the world's largest contract electronics maker, and Vedanta had signed a deal last year to build semiconductor …

ISMC's India chip plan stalls after Tower-Intel deal in setback to Modi
1 year, 6 months ago

ISMC's India chip plan stalls after Tower-Intel deal in setback to Modi

The Hindu  

A planned $3 billion semiconductor facility in India by chip consortium ISMC that counted Israeli chipmaker Tower as a tech partner has been stalled due to the company's ongoing takeover by Intel, three sources said, dashing India's chip-making plans. A second mega $19.5 billion plan to build chips locally by a joint venture between India's Vedanta and Taiwan's Foxconn is …

‘Hope for more proposals like Vedanta-Foxconn for semiconductor fabs’
1 year, 10 months ago

‘Hope for more proposals like Vedanta-Foxconn for semiconductor fabs’

Live Mint  

I have been following news articles on the status of semiconductor fabs to be set up in India. When a country is starting from scratch, like India is, it isn’t always realistic to suggest that an entity with great experience in semiconductors should lead the foray. The Government will support semiconductor and display fabs with a package of $10 billion, …

Vedanta-Foxconn leads race to get govt nod for chip plant
1 year, 11 months ago

Vedanta-Foxconn leads race to get govt nod for chip plant

Live Mint  

NEW DELHI : Only one of the three semiconductor manufacturing proposals submitted to secure financial support under India’s $10 billion incentive scheme is likely to make the cut, a top official familiar with the development said. The Vedanta-Foxconn joint venture’s $20 billion proposal in Gujarat is expected to be the first to secure government approval, while the other two, submitted …

Vedanta inks pacts with 30 Japanese firms to develop Indian semiconductor manufacturing ecosystem
2 years ago

Vedanta inks pacts with 30 Japanese firms to develop Indian semiconductor manufacturing ecosystem

The Hindu  

Vedanta Group on Tuesday said that it had signed pacts with 30 Japanese technology companies to develop an Indian semiconductor and glass display manufacturing ecosystem. It is focussed on taking the lead in creating the electronics industry ecosystem rather than just technology transfers, Vedanta Global MD, display and semiconductor business, Akarsh K Hebbar said. The summit saw interests from a …

‘World wants India…': Vedanta boss on PM Modi, Foxconn and Young India at HTLS
2 years, 1 month ago

‘World wants India…': Vedanta boss on PM Modi, Foxconn and Young India at HTLS

Hindustan Times  

Prime Minister Narendra Modi has gained more popularity among the people of the country due to the trust he built during the Covid-19 pandemic, Vedanta chairman Anil Agarwal said at the Hindustan Times Leadership Summit on Saturday. “The world wants that India remains a market and not a manufacturer,” Agarwal told Sruthijith KK, editor-in-chief, Mint, during the conversation. Vedanta chairman …

Centre likely to clear semiconductor unit proposals in next 30-60 days: MoS IT Rajeev Chandrasekhar
2 years, 2 months ago

Centre likely to clear semiconductor unit proposals in next 30-60 days: MoS IT Rajeev Chandrasekhar

Firstpost  

The government has received proposals from five companies for setting up electronic chip and display manufacturing plants with an investment of Rs 1.53 lakh crore Bengaluru: The government is likely to start approving proposals to set up electronic chip and display manufacturing plants in the country in the next 30-60 days, Minister of State for Electronics and IT Rajeev Chandrasekhar …

Vedanta-Foxconn semiconductor plant site in Gujarat likely to be finalised in 2 weeks
2 years, 3 months ago

Vedanta-Foxconn semiconductor plant site in Gujarat likely to be finalised in 2 weeks

The Hindu  

Vedanta and Foxconn have hired experts who are evaluating possible locations for their upcoming semiconductor plant in Gujarat and a site may be finalised in the next couple of weeks, Gujarat Science and Technology Department Secretary Vijay Nehra said. So far, the joint venture company has not finalised the location as they are evaluating various sites in Gujarat based on …

Vedanta-Foxconn plant: Was money demanded from firm, asks MNS' Raj Thackeray
2 years, 3 months ago

Vedanta-Foxconn plant: Was money demanded from firm, asks MNS' Raj Thackeray

India TV News  

Vedanta-Foxconn plant : Maharashtra Navnirman Sena chief Raj Thackeray on Monday sought an inquiry into the state losing the multi-billion dollar Vedanta-Foxconn semiconductor chip manufacturing project to neighboring Gujarat and asked if any money was demanded from the joint venture firm. Attacking former chief minister Uddhav Thackeray, the MNS leader said the former's party fought the 2019 polls in alliance …

Foxconn’s US story may hold lessons for India’s chip hopes
2 years, 3 months ago

Foxconn’s US story may hold lessons for India’s chip hopes

Live Mint  

The project is fantastical: A $19 billion investment in the semiconductor and display-panel sectors, with the creation of 100,000 jobs promised in a state with little experience in technology manufacturing. If voters and taxpayers in India’s Gujarat state are excited about this “landmark investment”, they ought to read up on recent Wisconsin history. The US state bought into a similar …

Vedanta-Foxconn decision to set up semiconductor plant in Gujarat triggers political blame game in Maharashtra
2 years, 3 months ago

Vedanta-Foxconn decision to set up semiconductor plant in Gujarat triggers political blame game in Maharashtra

The Hindu  

Maharashtra is witnessing a political firestorm following the decision of multinational mining company Vedanta Limited to set up a $20 billion Vedanta-Foxconn semiconductor manufacturing facility in neighbouring Gujarat, despite finalising its location at Talegaon near Pune. Leader of Opposition and Nationalist Congress Party leader Ajit Pawar wrote to Chief Minister Eknath Shinde requesting him to bring back the project to …

Aatmanirbhar Silicon Valley dreams to turn to reality: Why India’s first chip factory in Gujarat is reason to celebrate
2 years, 3 months ago

Aatmanirbhar Silicon Valley dreams to turn to reality: Why India’s first chip factory in Gujarat is reason to celebrate

Firstpost  

Vedanta and Taiwan’s Foxconn will invest Rs 1.54 lakh crore to set up the 1,000-acre semiconductor plant in Ahmedabad. The factory, which is expected to start production in two years, will not only employ more than one lakh people but also accelerate India’s manufacturing ambitions Multinational mining company Vedanta Limited and Taiwanese electronics manufacturing giant Foxconn on Tuesday announced that …

Vedanta, Foxconn to invest $19.5 bn in Gujarat for chip project
2 years, 3 months ago

Vedanta, Foxconn to invest $19.5 bn in Gujarat for chip project

The Hindu  

Vedanta Ltd. and Taiwan's Foxconn will invest $19.5 billion under a pact signed on Tuesday to set up a semiconductor project in Gujarat, Indian Prime Minister Narendra Modi's home state. Gujarat Chief Minister Bhupendrabhai Patel said the venture would create more than 100,000 jobs, and the state was prepared to extend any support to the project, which it won in …

Vedanta picks Gujarat for $20 billion India semiconductor foray
2 years, 3 months ago

Vedanta picks Gujarat for $20 billion India semiconductor foray

Live Mint  

Vedanta Ltd has selected Indian Prime Minister Narendra Modi's home state of Gujarat for its semiconductor project, two sources told Reuters, the first major step in its $20 billion joint venture with Taiwan's Foxconn. Vedanta obtained financial and non-financial subsidies including on capital expenditure and cheap electricity from Gujarat to build the semiconductor plants, the first source with knowledge of …

Vedanta to invest up to USD 20 bn in semiconductor biz in India, rollout by 2025
2 years, 10 months ago

Vedanta to invest up to USD 20 bn in semiconductor biz in India, rollout by 2025

The Hindu  

Indian conglomerate Vedanta has earmarked $15 billion for its foray into the electronic chip and display manufacturing space, and plans to scale up the investment to as much as $20 billion, a senior company official said. It expects to roll out display units, for use in mobile phones and electronics devices, by 2024 and electronic chips from Indian manufacturing plants …

The curious case of Vedanta’s Foxconn tie-up to make chips
2 years, 10 months ago

The curious case of Vedanta’s Foxconn tie-up to make chips

Live Mint  

This week’s announcement that India’s Vedanta Group has tied up with Taiwan’s Foxconn Technology Group to make chips is being lauded as proof that New Delhi is gaining traction with its plans to build a semiconductor industry. India’s government is offering almost $7 billion of enticements to boost its electronics manufacturing sector, which includes a Production Linked Incentive scheme, and …

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