Foxconn and Vedanta are close to inducting European chipmaker STMicroelectronics as the technology partner in their proposed semiconductor chip manufacturing unit in India. Foxconn will be the lead partner in the joint venture (JV) that was announced last February. The Vedanta-Foxconn consortium is one of the five applicants seeking government incentives under a $10-billion package announced in December 2021 to promote domestic semiconductor manufacturing.
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
So far, in addition to the Foxconn-Vedanta proposal, the Centre has received five bids to set up semiconductor fabrication units. These include Next Orbit Ventures, which has partnered with Israel’s Tower Semiconductor (Tower has been acquired by Intel but the merger is awaiting regulatory approvals), as well as Singapore-based IGSS Ventures.
Foxconn, which is one of the largest electronics manufacturing companies in the world, is very “committed to India” and will invest close to $70-80 billion towards chip manufacturing.
The Ministry of Electronics and Information Technology (MeitY) has launched ‘PARAM SHAKTI’, a powerful new…
Akasa Air, India’s youngest airline founded in 2020, has become a member of the International…
The Government of India focuses strongly on the welfare and empowerment of women and children.…
The 53rd edition of the New Delhi World Book Fair (NDWBF) 2026 will be held…
The 98th Academy Awards, also known as Oscars 2026, have recognized five Indian films as…
Indian Renewable Energy Development Agency Ltd. (IREDA) has once again proved its strong performance by…