+
Vedanta-Foxconn JV asked to provide information on chip fabrication
Technology

Vedanta-Foxconn JV asked to provide information on chip fabrication

The Vedanta-Foxconn joint venture may or may not have the "necessary technical know-how" for manufacturing and fabricating semiconductors, according to the Centre. Vedanta and Foxconn Technology Group have been asked by the Ministry for Electronics & Information Technology (MeitY) to provide more information about how they intend to obtain the necessary technical know-how or find a third partner with proven technical capacity. Foxconn hasn't really worked in manufacturing semiconductor chips on a massive scale.

Companies seeking incentives under India's ambitious Rs 76,000 crore scheme to build a complete semiconductor ecosystem must show clear expertise in the specialised field of semiconductor manufacturing.

Under the programme for the development of the semiconductor and display manufacturing ecosystem, mining conglomerate Vedanta and Hon Hai Technology Group ("Foxconn") have signed a joint venture agreement (JV) to establish a semiconductor manufacturing facility in India. To date, Vedanta-Foxconn is the only applicant which is still scouting for a factory location.

Industry insiders who are aware of the IT ministry's discussions said that while Foxconn excels at making electronics systems, moving into the semiconductor industry would be a "backward integration" that would require a technology partner.

According to the MoU the two businesses signed, Vedanta will own the majority of the equity stake in the JV while Foxconn will hold a minority stake.

Vedanta intends to make an investment in the semiconductor chip manufacturing facility of up to Rs 66,000 crore. At the time, the company had stated that it would use a 28-nanometer (nm) fabrication to target electronics and smartphones.

The Vedanta-Foxconn joint venture may or may not have the necessary technical know-how for manufacturing and fabricating semiconductors, according to the Centre. Vedanta and Foxconn Technology Group have been asked by the Ministry for Electronics & Information Technology (MeitY) to provide more information about how they intend to obtain the necessary technical know-how or find a third partner with proven technical capacity. Foxconn hasn't really worked in manufacturing semiconductor chips on a massive scale. Companies seeking incentives under India's ambitious Rs 76,000 crore scheme to build a complete semiconductor ecosystem must show clear expertise in the specialised field of semiconductor manufacturing. Under the programme for the development of the semiconductor and display manufacturing ecosystem, mining conglomerate Vedanta and Hon Hai Technology Group (Foxconn) have signed a joint venture agreement (JV) to establish a semiconductor manufacturing facility in India. To date, Vedanta-Foxconn is the only applicant which is still scouting for a factory location. Industry insiders who are aware of the IT ministry's discussions said that while Foxconn excels at making electronics systems, moving into the semiconductor industry would be a backward integration that would require a technology partner. According to the MoU the two businesses signed, Vedanta will own the majority of the equity stake in the JV while Foxconn will hold a minority stake. Vedanta intends to make an investment in the semiconductor chip manufacturing facility of up to Rs 66,000 crore. At the time, the company had stated that it would use a 28-nanometer (nm) fabrication to target electronics and smartphones.

Related Stories

Gold Stories

Next Story
Real Estate

Anshul Singhal launches Vantrock with Rs 42 billion development plan

Real estate professional Anshul Singhal has launched Vantrock Real Assets Private Limited (VRAPL), a Mumbai-headquartered platform focused initially on warehousing, industrial and logistics parks. The company plans to develop approximately 11.5 million sq ft of assets, with an estimated gross development value (GDV) of Rs 42 billion (approximately USD 434 million) on completion.The first phase will cover around 3 million sq ft across the National Capital Region (NCR), Bengaluru and Pune, with an estimated development value of Rs 11 billion (approximately USD 113 million). Construction is sched..

Next Story
Infrastructure Transport

Afcons wins CII award for biodiversity management

Afcons Infrastructure has received the Confederation of Indian Industry (CII) National Award for Environmental Best Practices 2026 in the Biodiversity Management category for its work on the Mumbai-Ahmedabad High Speed Rail Project’s C-2 package.The award was presented at a ceremony in Chennai on 9 October 2026. It was received by Mihir Mishra, Vice-President, CPE, and Sumon Paul, Assistant General Manager, HSE, along with the Afcons team.The project adopted several resource recovery and waste management practices. These included recycling concrete washout waste to recover sand, aggregates a..

Next Story
Technology

Indian businesses lead globally in planned AI investment, says Autodesk

Indian organisations are moving towards deeper integration of artificial intelligence (AI), digital technologies and sustainability into business operations, according to Autodesk’s 2026 State of Design & Make report. The fourth edition of the annual study highlights growing AI adoption, measurable outcomes from digital transformation and the role of sustainability in long-term business growth.The report found that 64 per cent of Indian organisations are approaching or have achieved their current AI goals. While 88 per cent believe AI will enhance their industry, up from 78 per cent in 2..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code