Foxconn in talks for JV and tech partnership with TSMC and TMH Group

17 Jul 2023 CW Team

According to a report, Foxconn is currently in discussions with Taiwan Semiconductor Manufacturing Co (TSMC) and Japan's TMH Group to form a joint venture and technology partnership in India, with the aim of establishing semiconductor fabrication units. This development follows the recent cancellation of Foxconn's chip joint venture with the Vedanta Group.

TSMC is recognised as one of the leading chip manufacturers globally, while TMH Group specialises in providing semiconductor solutions, as well as managing and maintaining manufacturing equipment.

The report states that Foxconn has been engaged in negotiations with both companies for some time and is expected to announce the partnership details soon. The collaboration will likely involve the production of advanced and legacy chips within India.

The previous joint venture between Foxconn and Vedanta was terminated due to their inability to secure a technology partner, as advised by the Indian government. Foxconn had also been discussing potential technology partnerships with STMicro from Europe and GlobalFoundries from the United States. It is possible that Foxconn may still finalise agreements with these two companies.

Hon Hai Technology Group, commonly known as Foxconn, and the Vedanta Group, led by Anil Agarwal, had initially announced their joint venture in February 2022 to manufacture chips and display panels in India. This move positioned them as early participants in the India Semiconductor Mission (ISM), a strategic initiative by the Indian government to foster domestic capabilities in the semiconductor industry.

In December 2021, the government launched a $10 billion semiconductor incentive program, which offered a 50 per cent subsidy on capital expenditure for companies setting up chip manufacturing units in India.

To attract such projects under the ISM, individual states had also agreed to provide additional subsidies ranging from 15 per cent to 25 per cent.

Real Estate

07 Jul 2026

Pecan Realty Completes Rs 1.5 Billion Transactions

Pecan Realty has recently completed four institutional transactions worth over Rs 1.5 billion over the past two years, strengthening its position as an execution-led real estate platform. The deals include resolution-led acquisitions, structured finance transactions and capital partnerships across its development portfolio.The transactions covered acquisitions through the National Company Law Tribunal process and helped provide repayment or exits to both private and public sector lenders. The company said the deals demonstrate its ability to resolve complex project situations, work with instit..

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..