Foxconn-Vedanta $19.5 Billion Chip Deal Ends

2023 • 5min • News • Business


Published On: July 11, 2023 - Foxconn, a Taiwanese electronics manufacturer, announced on Monday that it has pulled out of a collaborative project with Vedanta Ltd, led by billionaire Anil Agarwal. The joint venture aimed to establish semiconductor manufacturing facilities in India. Last year, Foxconn and Vedanta entered into an agreement to invest $19.5 billion for the development of semiconductor and display production plants in Gujarat, with the intention of capitalizing on India's ambitions to become a prominent player in the electronics industry.