VEDANTA-FOXCONN SEMICONDUCTOR FAB PROJECT MUST WORK
INDIA’S BID TO MAKE MICROCHIPS HAD FAILED MANY TIMES EARLIER
2022-09-26 17:06
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It may be early to predict the future of Vedanta-Foxconn’s proposed $22-billion joint venture project in India for an integrated display and semiconductor fabrication ecosystem. The promoters have already got themselves enmeshed in a political controversy over a sudden change in the project location — from Maharashtra to Gujarat. Significantly, the location change came just three months before the Gujarat assembly election. The promoters were in dialogue with the Maharashtra government for several months. The deal was about to be signed and sealed when Vedanta-Foxconn changed their mind to locate the project in Gujarat. The choice may be more political than economic. Gujarat has little background in electronics manufacturing.