29.1 C

Taiwanese Tech Giant Foxconn Submits Application for Semiconductor Facility in India

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.

image 594 Taiwanese Tech Giant Foxconn Submits Application for Semiconductor Facility in India

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.

- Advertisement -TechnoSports-Ad

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.

image 595 Taiwanese Tech Giant Foxconn Submits Application for Semiconductor Facility in India

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.


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.




Related Stories

More from author

Pushpa 2 Release Date, Cast, Plot, and More: All the Details

Pushpa 2 Release Date, Cast, Plot, and More are disclosed in this article Pushpa is a movie starring South Indian superstars Allu Arjun and Rashmika...

Chandu Champion Release Date, Storyline, Cast, and More: Coming in 2024

Chandu Champion, a highly anticipated film featuring Kartik Aaryan in the lead role, is in the works. Sajid Nadiadwala and Kabir Khan are the...

Vodafone Idea Introduces new ₹549 and more recharge plans as of 25th April 2024

Vodafone Idea has launched and changed a number of plans, so the company is quietly making a lot of changes in its prepaid division....

Exclusive: Best Camera Phones Under 20000 INR in 2024

Best Camera Phones Under 20000 INR - Everything You Need to Know In an era where smartphones have become indispensable, the demand for exceptional camera...