India raised questions raised over Foxconn-Vedanta chip incentive plan: Report

Foxconn said on July 10 that it is pulling out of a joint venture with billionaire Anil Agarwal-led Vedanta Ltd that was set up to produce semiconductors from India.

Reuters

July 10, 2023 / 19:18 IST

oxconn and Vedanta signed a pact last year to invest $19.5 billion to set up semiconductor and display production plants in the western state of Gujarat

Taiwan's Foxconn pulled out of a semiconductor joint venture with Vedanta after Indian government raised questions over its application for an incentive scheme for chip production, a source familiar with the matter said.

Foxconn and Vedanta did not respond immediately to requests for comment.

Reuters

first published: Jul 10, 2023 07:18 pm

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