Foxconn, a Taiwanese electronics manufacturing services company, has formally applied to establish a semiconductor fabrication facility in India, as announced in Parliament on Wednesday.
Rajeev Chandrasekhar, the Minister of State for Electronics and IT, stated in a written response to Lok Sabha that the government has implemented various measures to boost electronics manufacturing, particularly in semiconductors. The application from Foxconn falls under the “modified scheme for setting up semiconductor fabs in India.”
This development follows Foxconn’s withdrawal from a joint venture with the Vedanta Group, which had plans to build a chip plant in Gujarat with an investment of approximately Rs 1.5 lakh crore. Chandrasekhar also mentioned that Micron’s semiconductor unit received approval under the Semicon India program in June 2023, with construction already underway.