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 Reserve Bank of India (RBI) has decided to keep the repo rate unchanged at…
In today's world, most countries have a president as their leader. But not all nations…
To regulate the rapidly growing the online gaming sector India has introduced new rules to…
Nadendla Bhaskar Rao the former Chief Minister of undivided Andhra Pradesh has been passed away…
The Ministry of Culture under the Government of India has launched the 'VM Frames' National…
Galaxies are huge groups of stars, gas, dust and dark matter held together by gravity.…