Foxconn applies for semiconductor fab in India after exiting Vedanta JV

Taiwanese electronics manufacturing services company Foxconn has submitted an application for setting up a semiconductor fab in the country, Parliament was informed on Wednesday.

Minister of State for Electronics and IT Rajeev Chandrasekhar said in a written reply to Lok Sabha that the government has taken several measures to boost electronics manufacturing, including semiconductors, incentivising large investments in electronic goods and appliances, and promote exports.

"Foxconn has submitted its application under the "modified scheme for setting up of semiconductor fabs in India" for the establishment of semiconductor fab in the country," Chandrasekhar said. The development comes after Foxconn exited a joint venture (JV) with Vedanta Group to set up a chip plant in India.