Foxconn, a known giant, in the electronics manufacturing services industry based in Taiwan has officially applied to establish a semiconductor facility in India as stated by Rajeev Chandrasekhar, the Minister of State for Electronics and IT in response to queries from Lok Sabha.
All About Foxconn Application for Semiconductor Facility
This strategic decision aligns perfectly with the efforts of the government to strengthen the country’s electronics manufacturing sector especially when it comes to semiconductor production. The government is actively encouraging investments in goods and appliances while fostering an environment conducive to increased exports.
It is worth noting that Foxconn, famous for its involvement in manufacturing Apple iPhones chose to submit its application under the “modified scheme for setting up of semiconductor fabs in India.” This important step follows Foxconn’s withdrawal from a venture with Vedanta Group that had initially aimed at establishing a chip plant in Gujarat with an estimated investment of about ₹1.5 lakh crores.
Minister Chandrasekhar highlighted the government’s commitment to enhancing India’s electronics manufacturing landscape with a focus on boosting semiconductor production capabilities. Foxconn application is viewed as a step toward achieving this goal given its global prominence, in the field of electronics manufacturing.
In an update, Minister Chandrasekhar announced that Micron, a known company, in the semiconductor industry, has received approval, for the first semiconductor unit as part of the Semicon India program in June 2023. Construction activities for this unit are already underway, signifying a crucial milestone in India’s endeavors to fortify its semiconductor manufacturing capabilities.
These strategic initiatives, coupled with collaborations with industry leaders like Foxconn and Micron, underscore a concerted effort to position India as a significant player in the global semiconductor landscape. The government’s proactive measures are poised to contribute significantly to the country’s technological advancements and economic growth in the coming years.
