Скачать или смотреть Taiwan’s Foxconn Withdraws from $19.5 Billion Semiconductor Joint Venture with India’s Vedanta Group

Taiwan-based Hon Hai Technology Group, better known as Foxconn, said on Monday that it had withdrawn from a $19.5 billion semiconductor joint venture with Indian metals-to-oil conglomerate Vedanta, possibly marking a setback of sorts to Indian PM Narendra Modi’s chipmaking hopes for India.

In a statement, Foxconn said that it had worked for more than a year with Vedanta to bring “a great semiconductor idea to reality,” but that they had mutually decided to end the joint venture, and that it would be removing its name from an entity that would now be entirely owned by Vedanta.

Rajeev Chandrasekhar, Indian Minister of State for Electronics and Information Technology (MoS IT), claimed on Twitter that Foxconn’s withdrawal from the partnership would not impact India’s semiconductor goals.

Image Source: Reuters

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