Foxconn: Foxconn exits Vedanta chip project over missing tech
NEW DELHI: Vedanta’s ambitious semiconductor bid with Taiwanese contract major Foxconn failed to take off as the foreign partner opted out of the venture over their failure to rope in a technology provider for the sophisticated chip and glass manufacturing business.While the Vedanta group maintained that it remains “fully committed” to the project and claimed to have “lined up” new partners, ministers Ashwini Vaishnaw and Rajeev Chandrasekhar maintained that the break-up will not impact India’s semiconductor efforts or the individual business plans of the two companies.The two companies had announced a mega $19. 5 billion plan for a semiconductor foray after the Indian government had come out with a lucrative $10 billion incentive package for those willing to invest but could not come up ...