THE CENTRE has reached out to Taiwanese contract manufacturer Foxconn to set up a semiconductor fabrication facility independently in India after the company announced that it was pulling out of its joint venture with Vedanta to set up a $19.5 billion chip manufacturing plant in the country, The Indian Express has learnt.
In what is being seen as a setback to India’s chip-making ambitions, Foxconn on Monday said that it will not move forward on the joint venture with Vedanta, marking a clear fall-out between the two partners. India has identified chip-making as a key priority for future economic growth, hoping to capitalise on companies looking to diversify their operations from China.
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