Comment on From a failed $20 billion joint venture to stalled projects, India's dreams of becoming a chipmaking powerhouse are off to a bad

From a failed $20 billion joint venture to stalled projects, India's dreams of becoming a chipmaking powerhouse are off to a bad

Prime Minister Narendra Modi has big ambitions for India's chip industry.REUTERS/Amit Dave Foxconn said Monday it's scrapping a $20 billion JV with Indian conglomerate Vedanta to make semiconductors. Other plans to boost India's chipmaking sectors are also progressing slowly. Indian Prime Minister Narendra Modi's government wants to make India a chipmaking powerhouse. India has big plans to boost its chipmaking industry, but the country is already meeting setbacks.On Monday, Taiwan's Foxconn — best known for being a major parts supplier to Apple — said it's withdrawing from a $19.5 billion joint venture with Indian conglomerate Vedanta without citing a reason for the breakup.

 

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