Page 12 - Foxconn

Foxconn-Vedanta deal off: What went wrong & what next for India's semiconductor dream

Recently, the highly anticipated partnership between Vedanta and Foxconn to establish a $19.5 billion semiconductor manufacturing plant in Gujarat, India, came to an unexpected halt. >

Memory chip giant SK Hynix considering setting up packaging plant in India

Samsung and SK Hynix are key players in the global sales of dynamic random-access memory (RAM) chips

TMS Ep474: Foxconn-Vedanta split, TRAI on OTT, markets, Indus Water Treaty

Is Foxconn-Vedanta split a setback for India's chip dreams? Why has TRAI changed its stance on OTT regulations? Will sectoral laggards of H1CY23 regain mojo? What is Indus Water Treaty? Answers here

Top headlines: Disney explores option for India biz, veggie prices soar

Business Standard brings you the latest headlines at this hour

Will table paper on Maha missing out on Foxconn project in monsoon session

The Maharashtra government will table a white paper on circumstances in which the Vednata-Foxconn project went outside the state in the monsoon session of the legislature, state Industries Minister Uday Samant said on Tuesday. We will present a white paper on reasons behind the semiconductor project of Vedanta-Foxconn went outside Maharashtra. We are working on it and it will be tabled in the monsoon session starting July 17, he said. The minister said he was studying the factors based on which Foxconn announced its decision. "I cannot comment on it without any proper information in my hand, he said. Foxconn on Monday announced withdrawal from its chip-making JV with Indian conglomerate Vedanta.

Foxconn in talks for 2 fab plants as Vedanta joint venture fails

It could bring in a Taiwanese fab firm in a JV

Need a fresh start

Policy for making semiconductors should be reviewed

Troubles mount for Anil Agarwal's Vedanta as Foxconn ditches $19.5 bn JV

London-headquarted Vedanta Resources controls the India unit, Vedanta Ltd. Agarwal took Vedanta Resources private in 2018. As of 2022, his net worth was $2 billion, ranking him 97th among India's rich

Foxconn to apply for India chipmaking incentives after $19.5 bn JV pullout

"Foxconn is committed to India and sees the country successfully establishing a robust semiconductor manufacturing ecosystem," the company said

Foxconn walks out of Vedanta joint venture for chip plant in India

Both firms committed to India's semicon mission: Govt

Foxconn, Vedanta committed to semiconductor mission, says Vaishnaw

Taiwanese electronics manufacturing giant Foxconn and mining behemoth Vedanta are committed to the semiconductor mission and the Make-in-India programme of the country, Union Minister of Electronics and IT Ashwini Vaishnaw said on Monday. The comments came against the backdrop of Foxconn announcing pulling out of its semiconductor joint venture Vedanta Foxconn Semiconductors Private Limited. "Both the companies Foxconn and Vedanta are committed to India's semiconductor mission and Make in India program," Vaishnaw tweeted. Taiwan's Foxconn has withdrawn from a USD 19.5 billion (about Rs 1.5 lakh crore) semiconductor joint venture with mining baron Anil Agarwal's Vedanta Ltd as the venture struggled to get a technology partner to make chips that are used in mobile phones to refrigerators and cars. In a statement, Foxconn, the world's largest contract electronics maker, said it "has determined it will not move forward on the joint venture with Vedanta." Agarwal's metals-to-oil ...

Never trust manufactured headlines: Congress on Foxconn's withdrawal

As Foxconn decided to pull out of the semi-conductor joint venture with Indian conglomerate Vedanta, the Congress took a swipe at the BJP saying "whether Gujarat Model or New India' never trust the manufactured headlines". The Opposition party's swipe came after Foxconn announced the break-up and said it is "working to remove the Foxconn name from what now is a fully-owned entity of Vedanta". Reacting to the development, Congress general secretary Jairam Ramesh said, "Remember the publicity at the time of announcing the project? Gujarat CM even claimed 1 lakh jobs will be created! This has been the fate of many MOUs signed in Vibrant Gujarat summits year after year, and will be the fate in other such copycat summits like Global Investor Summits in UP." "Whether Gujarat Model or New India' never trust the manufactured headlines," the Congress leader said. In a tweet, Congress leader and former Union minister Milind Deora said, "Bad news for India's chipmaking plans first the $20 ..

India raised questions over Foxconn-Vedanta chip incentive plan -source

Taiwan's Foxconn pulled out of a semiconductor joint venture with Vedanta after India's government raised questions over its application for an incentive scheme for chip production

Foxconn withdrawal has no impact on India's semiconductor goals: MoS IT

Taiwanese electronics manufacturer Foxconn's decision to pull out of Vedanta joint venture has no impact on India's semiconductor fabrication plant goal, minister of state for electronics and IT Rajeev Chandrasekhar said on Monday. Foxconn has decided to pull out of the semiconductor joint venture with Indian conglomerate Vedanta. "This decision of Foxconn to withdraw from its JV wth Vedanta has no impact on India's Semiconductor Fab goals. None," Chandrasekhar tweeted. Vedanta Foxconn JV had announced the setting up of India's first electronic chip manufacturing unit in Gujarat with an investment of around USD 1.5 lakh crore. "Its not for govt to get into why or how two private companies choose to partner or choose not to, but in simple terms it means both companies can & will now pursue their strategies in India independently, and wth appropriate technology partners in Semicon n Electronics," Chandrasekhar tweeted. The minister said that both Foxconn and Vedanta have significant

As Foxconn withdraws, Vedanta says other partners lined for chip plant

After withdrawal of Taiwanese electronic contract manufacturer Foxconn from its chip joint venture, Vedanta on Monday asserted that it is fully committed to its semiconductor project and has lined up other partners to set up India's first foundry. Vedanta said that it has redoubled efforts to fulfil the Prime Minister Narendra Modi's vision for semiconductors and affirmed that India remains pivotal in repositioning global semiconductor supply chains. "Vedanta reiterates that it is fully committed to its semiconductor fab project and we have lined up other partners to set up India's first foundry. We will continue to grow our Semiconductor team, and we have the license for production-grade technology for 40 nm from a prominent Integrated Device Manufacturer (IDM)," Vedanta said in a statement. The company had announced plans to set up its chip plant in Gujarat with an investment of around Rs 1.5 lakh crore. However, its JV partner Foxconn has announced to pull out of the project. "

Foxconn pulls out of semiconductor joint venture with Vedanta Ltd

Foxconn and Vedanta signed a pact last year to invest $19.5 billion to set up semiconductor and display production plants in Gujarat

Foxconn Q2 sales fall 14%, Q3 outlook brighter ahead of shopping season

For the month of June, sales fell 19.7% year-on-year, though at T$422.8 billion it was still the second highest figure on record for the same period

Commerce ministry asks departments to consult with PLI scheme beneficiaries

The commerce and industry ministry has suggested departments, which are implementing their sector-specific production-linked incentive schemes, hold consultations with PLI beneficiary companies to understand their issues, government officials said. The suggestion was made in a workshop on the production-linked incentive (PLI) scheme called by the ministry on June 27. The meeting assumed significance as the government disbursed only Rs 2,900 crore till March 2023 out of Rs 3,400 crore claims received under the scheme. The scheme was announced in 2021 for 14 sectors, such as telecommunication, white goods, textiles and pharma with an outlay of Rs 1.97 lakh crore. The departments were also asked to ensure that PLI beneficiaries complete their investments and meet production targets. "It was suggested to the line ministries now to call the PLI beneficiary companies for consultations with them only and if they flag any issue, it could be conveyed to the commerce and industry ministry so

Vedanta-Foxconn JV reapplies for chip manufacturing unit incentives

The company had earlier announced that the plant will be set up in Dholera, Gujarat, with an investment of around Rs 1.5 trillion and start making revenue by 2027

Vedanta Foxconn JV re-submit application to set up semiconductor plant

Vedanta Foxconn JV has re-submitted an application to set up an electronic chip manufacturing plant, the joint venture company said on Tuesday. The company had earlier announced that the plant will be set up with an investment of around Rs 1.5 lakh crore and start making revenue by 2027. "We have submitted the application as per the revised guidelines. We are committed to building a world-class fab in India," Vedanta Foxconn Semiconductor Ltd said in a statement. The company has re-submitted the application under the modified semiconductor programme. Under the modified programme, the government has increased the fiscal incentive to 50 per cent of the project cost for setting up semiconductor Fabs in India of any node (including mature nodes). Similarly, the fiscal incentive of 50 per cent of the project cost is available for setting up Display Fabs of specified technologies in India. Earlier, the scheme offered fiscal support of 30 per cent of capital expenditure to approved unit