In a bid to expand its operation in India, Electronics giant Foxconn is planning to apply separately for setting up a semiconductor manufacturing unit in the country, the company said on Tuesday. We have been actively reviewing the landscape for optimal partners," Foxconn said in a statement. The new development has come after the company announced its exit from a semiconductor joint venture with Vedanta on Monday. Foxconn aims to utilise India's chipmaking incentives schemeBy applying for a separate chip manufacturing unit in India, Foxconn is planning to seek benefit of incentives that India is offering under its semiconductor manufacturing policy. The company is aggressively planning to enter India's semiconductor market by collaborating with international partners.

Source: Mint July 12, 2023 01:50 UTC