Day after, Foxconn says will apply separately for chip unit incentives
The comment came after Foxconn pulled out from the USD 19.5 billion semiconductor JV with Vedanta.
DELHI: A day after announcing withdrawal from its chip-making JV with Indian conglomerate Vedanta, Foxconn on Tuesday said it was working on plans to apply for incentives under the programme, as it pledged its commitment to India. The Taiwanese electronics manufacturing giant said it has been actively reviewing the landscape for optimal partners. The comment came after Foxconn pulled out from the USD 19.5 billion semiconductor JV with Vedanta.
“We welcome a diverse set of stakeholders, both inside India and abroad, who also want to see India get to the next level and can complement Foxconn’s world-class supply chain management and manufacturing efficiency,” Foxconn said in a statement on Tuesday.
Pledging its commitment to India, Foxconn said it “is working toward submitting an application related to Modified Programme for Semiconductorsand Display Fab Ecosystem”.Foxconn said it sees the country successfully establishing a robust semiconductor manufacturing ecosystem. “It will take time... The group looks forward to growing alongside India’s nascent semiconductor industry,” it said.