Join Our WhatsApp Group: Sujit Nair Group
In this episode of editorial, Mr. Sujit Nair discusses about the the mega investment which was to be done in the state of Gujarat by the joint-venture Vedanta-Foxconn and how the semi-conductor giant Foxconn exited the venture abruptly. Foxconn said on Monday that it has exited a $19.5 billion joint venture with Indian giant Vedanta in the semiconductor industry, putting Prime Minister Narendra Modi’s hopes for India to become a chip-making powerhouse in jeopardy. The project, originally slated for Gujarat but ultimately linking up with Maharashtra, was at the center of a political kerfuffle between the two states last year. In an effort to expand its operations, Foxconn teamed up with Vedanta in February 2022 to produce chips in India. According to Foxconn, this will “”significantly boost domestic electronics manufacturing in India.”” A Foxconn delegation met with Eknath Shinde, the chief minister of Maharashtra, and his deputy, Devendra Fadnavis, in the final week of July of that year.
#Foxconn #Vedanta #Maharashtra #FDI #Gujarat #BJP #EknathShinde #DevendraFadnavis #BhupendraPatel #Shivsena #India #VedantaFoxconn #Semiconductor #HWNews #SujitNair
As an independent media platform, we do not take advertisements from governments and corporate houses. It is you, our readers, who have supported us on our journey to do honest and unbiased journalism. Please contribute, so that we can continue to do the same in future.
