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Indian mining major Vedanta to manufacture semiconductors in India

The Indian mining major Vedanta has tied up with Taiwanese electronics manufacturing company, Hon Hai Technology.

Sumit Arora Last updated on December 22nd, 2023 03:05 pm Leave a comment

The Indian mining major Vedanta has tied up with Taiwanese electronics manufacturing company, Hon Hai Technology Group (better known as Foxconn) to form a joint venture (JV) for manufacturing semiconductors in India. Anil Agarwal, the non-executive Chairman of Vedanta, will be the Chairman of the JV company.

This is the first JV in the electronics manufacturing sector after the government announced a Rs 76,000 crore production-linked incentive (PLI) scheme for semiconductor and display manufacturing, to create an ecosystem of local production of semiconductors in India. Vedanta will be the majority shareholder in the JV while Foxconn will hold minority share.

Important takeaways for all competitive exams:

Foxconn Founder: Terry Gou;
Foxconn Founded: 20 February 1974;
Foxconn Headquarters: Tucheng District, Taipei, Taiwan.

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Sumit Arora

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As a team lead and current affairs writer at Adda247, my role involves researching and creating informative and engaging content aimed at helping candidates prepare for national and state-level competitive government exams. I specialize in delivering insightful articles that keep aspirants updated on the latest current affairs trends and developments. My primary focus is on educational excellence, ensuring that our readers are well-prepared and informed to face their exams with confidence. Through meticulously crafted content, I aim to guide and support candidates in their journey toward success.