Vedanta partners with Foxconn to produce semiconductors in India

17 Feb 2022 CW Team

After the performance-linked incentive (PLI) scheme, this is the first JV in the electronics manufacturing area.

In December 2021, the Government of India cleared a PLI scheme for semiconductor and display board production in the country, targeting an investment worth Rs 76,000 crore within the next five to six years.

To draw large investments for manufacturing facilities amid the global pandemic, India Semiconductor Mission (ISM) was introduced.

Currently, discussions are going on with a few state governments to decide the final plant location. However, the company has not revealed the investment amount, estimated production capacity, and project's location.

According to the memorandum of understanding (MoU) signed between the two companies, Vedanta would hold the majority in the JV while Hon Hai would be the minority shareholder. Anil Agarwal, the owner of Vedanta, would be the chairman of the JV company.

Recently, a subsidiary of Foxconn Technology and FIH Mobiles, Bharat FIH Ltd, has filed its draft papers for a Rs 5,000-crore initial public offering in India.

In December 2021, Foxconn's nearly 2,000 employees at an iPhone contract manufacturing unit in Sriperumbudur blocked Chennai-Bengaluru Highway for over 12 hours, mentioning alleged food poisoning in one of its hostels directing to the hospitalization of 159 workers.

Due to this, the plant was put on probation by Apple Inc. However, the production restarted by January-mid.

Foxconn informed that it would revamp the local management team and operations.

Hon Hai said in December, by spending $350 million, the firm increased its stake in its India subsidiary.

In January, the Vedanta Group shared its plan to invest $15 billion in making displays and semiconductor chips in India in the coming five years.

In December 2017, it acquired AvanStrate, a Japanese glass substrate manufacturer from the Carlyle Group.

Hon Hai, including its subsidiaries, ranks first worldwide in the electronic manufacturing services (EMS) field, with a market share exceeding 40%.

Image Source

Also read: Vedanta acquires Goa-based nickel and cobalt manufacturer Nicomet

Vedanta Limited, a subsidiary of Vedanta Resources, has partnered with Hon Hai Technology Group trading as Foxconn Technology Group to form a joint venture (JV) to manufacture semiconductors in India. After the performance-linked incentive (PLI) scheme, this is the first JV in the electronics manufacturing area. In December 2021, the Government of India cleared a PLI scheme for semiconductor and display board production in the country, targeting an investment worth Rs 76,000 crore within the next five to six years. To draw large investments for manufacturing facilities amid the global pandemic, India Semiconductor Mission (ISM) was introduced. Currently, discussions are going on with a few state governments to decide the final plant location. However, the company has not revealed the investment amount, estimated production capacity, and project's location. According to the memorandum of understanding (MoU) signed between the two companies, Vedanta would hold the majority in the JV while Hon Hai would be the minority shareholder. Anil Agarwal, the owner of Vedanta, would be the chairman of the JV company. Recently, a subsidiary of Foxconn Technology and FIH Mobiles, Bharat FIH Ltd, has filed its draft papers for a Rs 5,000-crore initial public offering in India. In December 2021, Foxconn's nearly 2,000 employees at an iPhone contract manufacturing unit in Sriperumbudur blocked Chennai-Bengaluru Highway for over 12 hours, mentioning alleged food poisoning in one of its hostels directing to the hospitalization of 159 workers. Due to this, the plant was put on probation by Apple Inc. However, the production restarted by January-mid. Foxconn informed that it would revamp the local management team and operations. Hon Hai said in December, by spending $350 million, the firm increased its stake in its India subsidiary. In January, the Vedanta Group shared its plan to invest $15 billion in making displays and semiconductor chips in India in the coming five years. In December 2017, it acquired AvanStrate, a Japanese glass substrate manufacturer from the Carlyle Group. Hon Hai, including its subsidiaries, ranks first worldwide in the electronic manufacturing services (EMS) field, with a market share exceeding 40%. Image Source Also read: Vedanta acquires Goa-based nickel and cobalt manufacturer Nicomet

Infrastructure Urban

09 Jan 2026

Mount Invests Rs 250 Cr, Adds PUF & PEB Plants, 400+ Jobs

TUMKUR, Karnataka, January 8, 2025 - Mount Roofing & Structures Private Limited, one of India's fastest-growing manufacturers in PUF and a leading solutions provider across Pre-Engineered Building (PEB) and Polycarbonate sheets, simultaneously inaugurated its second fully automated continuous Sandwich Panel manufacturing line and a new PEB manufacturing plant at its integrated campus in Tumkur." The milestone expansion, part of a total investment of INR 250 crores, marks a significant advancement in the company's commitment to engineered performance, manu..

Infrastructure Urban

09 Jan 2026

Titan Intech Strengthens UltraLED Push With Global LED Veteran

Titan Intech has announced the induction of global LED industry veteran Su Piow Ko to its Board of Directors, marking a strategic step in strengthening its UltraLED Displays roadmap and building globally competitive LED display solutions from India.The appointment aligns with Titan Intech’s ambition to position India as a hub for advanced, high-quality LED display manufacturing. With an increased focus on UltraLED Displays, the company aims to enhance technical governance, raise manufacturing standards and expand its presence across global markets.Su Piow Ko brings over three decades of inte..

Infrastructure Urban

09 Jan 2026

Dun & Bradstreet Flags New Growth Engines in India 2026 Outlook

Dun & Bradstreet has released its India 2026: D&B’s Perspective report, projecting a stable macroeconomic environment underpinned by fresh opportunities for productivity-led and inclusive growth. The report outlines how India’s next growth phase will be driven by digitised logistics, trusted data ecosystems, clean energy and rising city vitality.According to the outlook, India’s GDP growth is expected to reach around 6.6 per cent by FY2027, supported by resilient consumer demand and sustained public investment. Manufacturing is seen entering a new phase, moving beyond scale towar..