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Foxconn, Vedanta Discuss Roadmap for Chip Manufacturing Plant

Update time : 2022-06-25 21:39:37

Young Liu, chairman of electronics manufacturing services company Foxconn, met Akarsh Hebbar, managing director of Vedanta Group, on Thursday to discuss their proposed roadmap for an electronics chip manufacturing plant and its location.

"Foxconn Chairman Young Liu met Akarsh Hebbar, global managing director of Vedanta Group's display and semiconductor business, in New Delhi to discuss the next step in their proposed partnership to manufacture semiconductor chips in India," Vedanta said in a statement.
According to sources, the two sides discussed the location for setting up a semiconductor plant, which will be announced soon. This is the first joint venture in electronics manufacturing since the government announced the semiconductor and display manufacturing incentive program.
Vedanta plans to invest about $15 billion in a phased manner over the next 5-10 years to manufacture displays and semiconductor chips in India. The joint venture will look at setting up a semiconductor manufacturing plant in the next two years. liu also met with Telangana IT and Industry Minister KT Rama Rao and they discussed Foxconn's plans to expand its operations in India.

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