{"id":165,"date":"2023-07-10T20:05:09","date_gmt":"2023-07-10T20:05:09","guid":{"rendered":"https:\/\/ventil.rs\/blog\/world\/foxconn-dumps-19-5-bln-vedanta-chip-plan-in-blow-to-india-reuters-news-agency\/"},"modified":"2023-07-10T20:05:09","modified_gmt":"2023-07-10T20:05:09","slug":"foxconn-dumps-19-5-bln-vedanta-chip-plan-in-blow-to-india-reuters-news-agency","status":"publish","type":"post","link":"https:\/\/ventil.rs\/blog\/world\/foxconn-dumps-19-5-bln-vedanta-chip-plan-in-blow-to-india-reuters-news-agency\/","title":{"rendered":"Foxconn dumps $19.5 bln Vedanta chip plan in blow to India – Reuters News Agency"},"content":{"rendered":"


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Business & Finance<\/span>Deals<\/span>Technology<\/span><\/p>\n

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10 July 2023, 8:05 pm <\/span>1 minute<\/span><\/p>\n<\/div>\n

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Reuters was first to report<\/strong><\/a> that Taiwan\u2019s Foxconn has withdrawn from a $19.5 billion semiconductor joint venture with Indian metals-to-oil conglomerate Vedanta, in a setback to Prime Minister Narendra Modi\u2019s chipmaking plans for India. The world\u2019s largest contract electronics maker signed a pact with Vedanta last year to set up semiconductor and display production plants in Modi\u2019s home state of Gujarat but said Monday it was not going to move forward. Reuters was again first to report further details of Foxconn\u2019s pullout, with a source saying New Delhi had raised several questions on the cost estimates provided to request incentives from India\u2019s government, and concerns about incentive approval delays also contributed to the decision.<\/p>\n<\/p><\/div>\n

Market Impact<\/h3>\n

Modi has made chipmaking a top priority for India\u2019s economic strategy in pursuit of a \u201cnew era\u201d in electronics manufacturing and Foxconn\u2019s move represents a blow to his ambitions of luring foreign investors to make chips locally for the first time.<\/p>\n

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Article Tags<\/p>\n

Topics of Interest: <\/span>Business & Finance<\/span>Deals<\/span>Technology<\/span><\/p>\n

Type: <\/span>Reuters Best<\/span><\/p>\n

Sectors: <\/span>Business & Finance<\/span>Technology<\/span><\/p>\n

Regions: <\/span>Asia<\/span><\/p>\n

Countries: <\/span>India<\/span>Taiwan<\/span><\/p>\n

Win Types: <\/span>Speed<\/span><\/p>\n

Story Types: <\/span>Exclusive \/ Scoop<\/span><\/p>\n

Media Types: <\/span>Text<\/span><\/p>\n

Customer Impact: <\/span>Important Regional Story<\/span><\/p>\n<\/div><\/div>\n


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Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Business & FinanceDealsTechnology 10 July 2023, 8:05 pm 1 minute Reuters was first to report that Taiwan\u2019s Foxconn has withdrawn from a $19.5 billion semiconductor joint venture with Indian metals-to-oil conglomerate Vedanta, in a setback to Prime Minister Narendra Modi\u2019s chipmaking plans for India. The world\u2019s largest contract electronics maker signed a pact with Vedanta…<\/p>\n

Read More “Foxconn dumps $19.5 bln Vedanta chip plan in blow to India – Reuters News Agency”<\/span> »<\/a><\/p>\n","protected":false},"author":1,"featured_media":166,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/www.reutersagency.com\/wp-content\/uploads\/2023\/07\/Flash_7.10.23_foxconn.jpg","fifu_image_alt":"","footnotes":""},"categories":[2],"tags":[],"class_list":["post-165","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world"],"yoast_head":"\nFoxconn dumps $19.5 bln Vedanta chip plan in blow to India - Reuters News Agency - Breaking News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ventil.rs\/blog\/world\/foxconn-dumps-19-5-bln-vedanta-chip-plan-in-blow-to-india-reuters-news-agency\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Foxconn dumps $19.5 bln Vedanta chip plan in blow to India - Reuters News Agency\" \/>\n<meta property=\"og:description\" content=\"Business & FinanceDealsTechnology 10 July 2023, 8:05 pm 1 minute Reuters was first to report that Taiwan\u2019s Foxconn has withdrawn from a $19.5 billion semiconductor joint venture with Indian metals-to-oil conglomerate Vedanta, in a setback to Prime Minister Narendra Modi\u2019s chipmaking plans for India. 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