Vedanta forms JV with Foxconn to manufacture semiconductors in India

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:

  1. Vedanta has formed JV with which company to manufacture semiconductors in India?
  2. Which Indian company has formed JV with Foxconn to manufacture semiconductors in India?
  3. Foxconn headquarter? Taiwan
  4. Vedanta headquarter? Mumbai

Source: Business Standard

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