Anil Agarwal, the Chairman of Vedanta Group, declared the company's unwavering commitment to India's semiconductor mission. He emphasized the immense potential of India, referring to it as a "land of opportunities."
"India presents a myriad of opportunities and holds tremendous potential. To transform India into a semiconductor and display glass hub, we seek numerous collaborations. We extend a warm welcome to Foxconn and invite the world to invest in this sector," Agarwal stated.

When discussing his vision, the Chairman of Vedanta Group expressed, "My vision is to fulfill the aspirations of our vibrant India, as its dreams are embedded within this chip." He also conveyed his appreciation to the Indian government for taking proactive measures to realize the vision of self-reliance and advancements in electronics, which will propel the country towards becoming a developed nation.

"I take great pride in my team, whose dedication over the past eighteen months has been instrumental in securing the ideal location and attracting top-notch experts and companies to join us in building an electronic ecosystem. They are the true pillars of my strength," Agarwal tweeted. Additionally, he confidently asserted, "Our nation's progress towards establishing another Silicon Valley is unstoppable. This marks a pivotal moment where we will rapidly manufacture for India and the world."

Following the termination of its $19.5 billion chipmaking joint venture with Vedanta, Taiwan's Foxconn announced its intention to seek incentives under India's semiconductor manufacturing plan. Foxconn's withdrawal from the joint venture is significant.

The renowned Taiwanese electronics manufacturer stated that it has been actively assessing potential partners in light of India's goal to establish a robust semiconductor manufacturing ecosystem. "It will require time, but we believe the country will successfully achieve this," Foxconn remarked.

Foxconn to Backout from the Promise of Setting Biggest Plant In India