Taiwan's Foxconn said on Tuesday it plans to apply for incentives that India is offering under its semiconductor manufacturing policy, a day after the company parted ways with Vedanta on a $19.5 billion chipmaking joint venture.
from its semiconductor JV with Indian metals-to-oil conglomerate Vedanta on Monday, in a setback to Prime Minister Narendra Modi's chipmaking plans for India.
"Foxconn is working toward submitting an application," the company said in a statement. "Foxconn is committed to India and sees the country successfully establishing a robust semiconductor manufacturing ecosystem," The Vedanta-Foxconn joint venture was among three applicants last year under the government's incentives plan.
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