Foxconn again approches Govt with semiconductor project
Foxconn exited a joint venture (JV) with Vedanta Group to set up a chip plant in India
New Delhi: Taiwanese electronics manufacturing services company Foxconn has submitted an application for setting up a semiconductor fab in the country, Parliament was informed on Wednesday.
Minister of state for electronics and IT Rajeev Chandrasekhar said in a written reply to Lok Sabha that the government has taken several measures to boost electronics manufacturing, including semiconductors, incentivising large investments in electronic goods and appliances, and promote exports.
"Foxconn has submitted its application under the "modified scheme for setting up of semiconductor fabs in India" for the establishment of semiconductor fab in the country," Chandrasekhar said.
The development comes after Foxconn exited a joint venture (JV) with Vedanta Group to set up a chip plant in India.
The JV had plans to set up its chip plant in Gujarat with an investment of around Rs 1.5 lakh crore.
Chandrasekhar said the first semiconductor unit by Micron was approved in June 2023 under the Semicon India programme and the construction of the unit has started.