NEW DELHI: Taiwanese electronics manufacturing services company Foxconn has submitted an application for setting up a semiconductor fab in the country, said Minister of state for electronics and IT
Rajeev Chandrasekhar in Lok Sabha.
The minister, in a written reply, also mentioned that the government has taken several measures to boost electronics manufacturing, including semiconductors, incentivising large investments in electronic goods and appliances, and promote exports “Foxconn has submitted its application under the”modified scheme for setting up of semiconductor fabs in India for the establishment of semiconductor fab in the country,” Chandrasekhar said.
This is the second attempt by Foxconn group to begin semiconductor manufacturing in the country. Earlier, the company partnered with billionaire Anil Agarwal’s Vedanta Limited, applied for the fab manufacturing in the country.
However, the government didn’t approve their application, and asked them to reapply under the new scheme. Later the both companies announced voluntary coming out of the partnership, and to apply individually. It is believed that the reason for the rejection of their application was inexperience in chip making.
Both Vedanta and Foxconn technology have no expertise in chip making, and are new to the semiconductor sector. In December 2021, the government had announced a $10 billion semiconductor incentive program.