AHMEDABAD: India’s Gujarat state is keeping talks with Foxconn over a semiconductor plant, a best executive respectable advised Reuters, days after the Taiwanese large broke off a $19.5 billion joint-venture plan with India’s Vedanta.
“We are in touch with multiple prospective investors, including Foxconn … Gujarat is uniquely positioned to attract top chipmakers,” stated Vijay Nehra, secretary of the science and generation division in Gujarat.
Foxconn this week exited its undertaking with Vedanta, which was once additionally deliberate for Prime Minister Narendra Modi’s house state of Gujarat, bringing up problems akin to gradual growth.
The breakup of the JV was once a setback for Modi’s imaginative and prescient to determine India as a semiconductor production hub. However, Foxconn stated later it might observe for India chip incentives by itself and was once exploring new companions.
Foxconn didn’t right away reply to a request for remark. Reuters is first to file its talks with Gujarat.
Modi needs to make chipmaking a best precedence in pursuit of a “new era” in electronics production, however his plan has floundered thus far.
Three firms carried out for incentives remaining yr — the Vedanta-Foxconn JV, Singapore-based IGSS Ventures and world consortium ISMC, which counts Tower Semiconductor as a tech spouse — however thus far no deal has been sealed.
Explaining the Vedanta break up on Tuesday, Foxconn stated “there was recognition from both sides that the project was not moving fast enough” and there have been different “challenging gaps we were not able to smoothly overcome”, with out giving extra main points.
V Lee, Foxconn’s consultant in India, wrote on LinkedIn: “Sometimes, you will fly higher when in solo.”
Its talks with Gujarat come weeks later. Micron Technologies stated it’s going to make investments as much as $825 million in a semiconductor trying out and packaging facility within the state.
“We are in touch with multiple prospective investors, including Foxconn … Gujarat is uniquely positioned to attract top chipmakers,” stated Vijay Nehra, secretary of the science and generation division in Gujarat.
Foxconn this week exited its undertaking with Vedanta, which was once additionally deliberate for Prime Minister Narendra Modi’s house state of Gujarat, bringing up problems akin to gradual growth.
The breakup of the JV was once a setback for Modi’s imaginative and prescient to determine India as a semiconductor production hub. However, Foxconn stated later it might observe for India chip incentives by itself and was once exploring new companions.
Foxconn didn’t right away reply to a request for remark. Reuters is first to file its talks with Gujarat.
Modi needs to make chipmaking a best precedence in pursuit of a “new era” in electronics production, however his plan has floundered thus far.
Three firms carried out for incentives remaining yr — the Vedanta-Foxconn JV, Singapore-based IGSS Ventures and world consortium ISMC, which counts Tower Semiconductor as a tech spouse — however thus far no deal has been sealed.
Explaining the Vedanta break up on Tuesday, Foxconn stated “there was recognition from both sides that the project was not moving fast enough” and there have been different “challenging gaps we were not able to smoothly overcome”, with out giving extra main points.
V Lee, Foxconn’s consultant in India, wrote on LinkedIn: “Sometimes, you will fly higher when in solo.”
Its talks with Gujarat come weeks later. Micron Technologies stated it’s going to make investments as much as $825 million in a semiconductor trying out and packaging facility within the state.