Foxconn announced on Tuesday that it intends to establish four to five semiconductor production lines in India, according to the Economic Times, a day after announcing its decision to end its joint venture for the manufacture of chips with the Indian giant Vedanta.
According to the Economic Times, the tech giant has informed the ministry of electronics and information technology that it has inked two memorandums of understanding (MoUs) with technological partners.
Foxconn should be able to submit the final application and issue a formal announcement within the next two months because it is familiar with the processes.
While one production line would be established in Gujarat, the corporation may also look into other places for the plants, according to the newspaper.
As the contract manufacturer reaffirmed its commitment to India on Tuesday, the company also said that it is putting the finishing touches on preparations to qualify for incentives under the semiconductor and display fab programmes.
The world’s largest manufacturer of electronics in Taiwan claimed that it has been searching hard for the best partners. The remark has relevance in light of Foxconn’s withdrawal from the USD 19.5 billion joint venture with Vedanta for semiconductors.
The IT giant is currently in discussions to set up the production facilities in India with a number of national and international partners. The company’s main priorities include finding new partners and utilising established chip manufacturing technologies for goods like electric vehicles.
Rajeev Chandrasekhar, the minister of state for electronics and IT, claimed that Foxconn’s withdrawal from the Vedanta joint venture had no bearing on India’s goal of building a semiconductor fabrication plant because neither company had any prior semiconductor experience or technology and was expected to source fabrication technology from a tech partner.
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