Foxconn-Vedanta News: Electronics contract manufacturing company Foxconn has decided to withdraw from the semiconductor joint venture with Vedanta Company of India. Union Minister of State Rajiv Chandrasekhar has reacted to this.
Union Minister of State for Entrepreneurship, Skill Development, Electronics and Technology Rajeev Chandrasekhar tweeted on Monday (July 10), “Foxconn’s decision to withdraw from its joint venture with Vedanta will have no impact on India’s semiconductor fab targets.” ”
Foxconn had tied up with Vedanta last year to set up a semiconductor and display production plant in Gujarat. About Rs 1.5 lakh crore was to be invested in this.
➡️This decision of Foxconn to withdraw from its JV wth Vedanta has no impact on India’s #Semiconductor To install Fabgoals. None.
➡️Both Foxconn n Vedanta have significant investments in India and are valued investors who are creating jobs n growth.
➡️It was well known that both… https://t.co/0DQrwXeCIr
— Rajeev Chandrasekhar 🇮🇳 (@Rajeev_GoI) July 10, 2023
