Foxconn Abandons $19.5 Billion Vedanta Chip Project, Dealing a Major Setback to India
Taiwan-based Foxconn announced on Monday that it is pulling out of a $19.5 billion semiconductor joint venture with Indian conglomerate Vedanta, dealing a setback to Prime Minister Narendra Modi’s plans to develop chip manufacturing in India. Foxconn, the world’s largest contract electronics manufacturer, and Vedanta had signed an agreement last year to establish semiconductor and …
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