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Foxconn: Taiwan’s electronics manufacturing company Foxconn is working on a plan to give a separate application for the semiconductor chip unit in India. The company has given this information in a statement today. Foxconn is considering a plan to take advantage of the incentives available under the Semiconductor Manufacturing Policy in India. Under this, the company will work on a plan to apply for incentives under the Semiconductor and Display Fab program.

Foxconn is keen to invest in India

The company has said in a statement today that it remains committed to India and is looking forward to new investments here. Only yesterday, Foxconn announced its exit from the semiconductor joint venture with Vedanta. Giving information about breaking the joint venture, Foxconn had said that it is exiting its $ 19.5 billion joint venture with Vedanta Limited, led by mining sector veteran businessman Anil Agarwal.

Foxconn can apply under the revised program of Display Fab Ecosystem

Significantly, Foxconn is now considering applying under the revised program of semiconductor and display fab ecosystem in India. He believes that with this, a competent semiconductor manufacturing ecosystem can be successfully established in India and the company can also take advantage of it. Foxconn said that “Foxconn came to India in 2006 and is still present today. We want to keep up with the progress of the country’s emerging semiconductor industry.”

Exiting JV with Vedanta not a negative thing: Foxconn

Even on the decision to withdraw from the joint venture with Vedanta, Foxconn has said an important thing in its statement that “There was a mutual agreement between the two companies and it is not negative at all. Both the parties had come to know that these products are rapidly We are not able to move ahead and we were not able to overcome the challenge easily. Apart from this, we take any decision keeping in mind the group and our shareholders in the long term. Would welcome interests, but also want India to go to the next level, although it will take time.”

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