Foxconn-Vedanta Deal: Taiwanese company Foxconn has called off its joint venture with Vedanta to make semiconductors. Means Foxconn company will not make semiconductor chip in India. Last year in September 2022, Foxconn and Vedanta had signed an agreement with the state government for Rs 1.54 lakh crore to set up plants in Gujarat. Both the companies were to jointly set up semiconductor and display production plants.
Foxconn has not given any reason for breaking the deal. At the same time, Vedanta said that it is now in talks with other companies to set up plants. At the same time, Union Minister of State for Electronics and Technology Rajiv Chandrasekhar has said that it will not have any effect on India.
The minister said both Foxconn and Vedanta have significant investments in India and are valuable investors who are creating jobs and growth.
“This decision of Foxconn to withdraw from its JV with Vedanta has no impact on India’s Semiconductor Fab goals,” tweets Union Minister of Electronics and Technology, Rajeev Chandrasekhar. pic.twitter.com/zDASvhv09L
– Advertisement –— ANI (@ANI) July 10, 2023
What is a semiconductor chip?
A semiconductor is a chip made of silicon. This controls the electricity in the circuit. In simple words, semiconductor chip is like human brain, which operates the entire gadgets. Every gadgets is incomplete without it. Computers, laptops, smartphones, hospital machines are used everywhere.
The world depends on China and Taiwan
The whole world is dependent on China and Taiwan for semiconductors. At present, India imports Rs 1.76 lakh crore. With the establishment of the plant, India’s dependence on China will reduce. This will create jobs and electronics items will be cheaper. Semiconductors operate electronics items automatically.
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