India: Foxconn pulls out of $19.5b chip JV with Vedanta

India: Foxconn pulls out of $19.5b chip JV with Vedanta

FILE PHOTO: The logo of Foxconn is seen outside a building in Taipei, Taiwan November 10, 2022. REUTERS/Ann Wang//File Photo

Taiwan’s Foxconn said on Monday it has withdrawn from a $19.5 billion semiconductor joint venture with Indian metals-to-oil conglomerate Vedanta, in a setback to Prime Minister Narendra Modi’s chipmaking plans for India.

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