Vedanta forms JV with Foxconn to manufacture semiconductors in India
- The Indian mining major Vedanta has inked an MoU with Taiwanese electronics manufacturing company, Hon Hai Technology Group (better known as Foxconn) to form a joint venture (JV) for manufacturing semiconductors in India.
- This is the first JV in the electronics manufacturing sector after the government announced Rs 76,000 crore production-linked incentive (PLI) scheme for semiconductor and display manufacturing, to create an ecosystem of local production of semiconductor in India.
- Vedanta will be majority shareholder in the JV while Foxconn will hold minority share.
- Anil Agarwal, the non-executive Chairman of Vedanta, will be the Chairman of the JV company.
- Foxconn is a Taiwanese multinational electronics contract manufacturer and world’s largest provider of electronics manufacturing services. Its headquarter is in Tucheng, New Taipei City, Taiwan.
Points to Remember:
- Vedanta has formed JV with which company to manufacture semiconductors in India?
- Which Indian company has formed JV with Foxconn to manufacture semiconductors in India?
- Foxconn headquarter? Taiwan
- Vedanta headquarter? Mumbai
Source: Business Standard