Foxconn Plans To Apply Separately For Chip Manufacturing Unit In India

Taiwanese electronics manufacturing giant Foxconn is working to apply separately for setting up a semiconductor manufacturing unit in India, the company said on Tuesday.
     
It said it is reviewing the landscape for optimal partners for the project.
     
"Foxconn is working toward submitting an application related to  Modified Programme for Semiconductors and Display Fab Ecosystem. We have been actively reviewing the landscape for optimal partners," Foxconn said in a statement.
     
The development follows Foxconn's announcement of exit from a semiconductor joint venture with Vedanta.
     
On Monday, Foxconn said it has withdrawn from the USD 19.5 billion joint venture with mining baron Anil Agarwal's Vedanta Ltd as the venture struggled to get a technology partner to make chips that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.