New Delhi:- Foxconn is currently negotiating technology and joint venture partnerships with Taiwan Semiconductor Manufacturing Company (TSMC) and Japan's TMH Group to set up a semiconductor factory in India, The Economic Times reported Friday.
Meanwhile, the Gujarat state government is in talks with Foxconn over a chip factory, a senior government official told Reuters days after the Taiwanese giant cancelled plans for a joint venture with Vedanta.
"We are in contact with several potential investors, including Foxconn...Gujarat is in a unique position to attract top chip makers," said Vijay Nera, head of the Gujarat State Department of Science and Technology. said. Foxconn pulled out of a planned Vedanta project in Prime Minister Narendra Modi's home state of Gujarat this week, citing slow progress and other issues.
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The dissolution of the joint venture was a setback to Modi's vision of establishing India as a semiconductor manufacturing hub. But Foxconn has since said it has applied for domestic chip subsidies and is looking for new partners. Foxconn did not immediately respond to a request for comment. Reuters first reported the talks with Gujarat.
Modi wants to make chip manufacturing a top priority to usher in a "new era" of electronics manufacturing, but his plans have so far failed. Last year, three companies — the Vedanta-Foxconn joint venture, Singapore-based IGSS Ventures and ISMC, a global consortium that counts Tower Semiconductor as a technology partner — competed for incentives, but no deal has yet been signed.
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Foxconn explained the split of Vedanta on Tuesday, stating that "both sides recognize that progress on the project has not gone far enough", and that there are other "challenges that have not been smoothly filled". “There is a certain gap,” but did not provide further details.
V. Lee, Head of India at Foxconn, wrote on LinkedIn that "Sometimes you fly higher when you're traveling alone." Talks with Gujarat see Micron investing up to $825 million (roughly Rs 6.8 billion) in semiconductor testing and packaging facilities in the state It happened a few weeks after it was announced.
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The Tech Giant Foxconn is now doing Joint Venture Partnership with the Taiwan semiconductor manufacturing company and Japan company TMH Group for the setup of the biggest semiconductor plant in India.