PTI reported that, according to a written reply to the Lok Sabha, India's Lower House, Rajeev Chandrasekhar, India's minister of Electronics and IT, said Foxconn had applied to set up a semiconductor fabrication facility under the modified scheme for semiconductor and display fab incentives.
The minister's statement officially confirmed Foxconn's move to foray into the semiconductor area in India despite Foxconn parting away with Vedanta regarding a joint venture project that failed to win the trust of the Indian government due to reasons including a lack of a technology partner.
India launched an INR760 billion (US$91.3 billion) incentive scheme for developing the semiconductor and display manufacturing ecosystem in December 2021, and Micron is the only global chipmaker to be approved under the scheme. India revised the scheme and opened a new application round in May 2023, allowing for a much longer application window than the 45 days in the first round.
Besides semiconductors, Foxconn is ramping up investments in electronic manufacturing, including smartphones and electric vehicles. Earlier in December, Foxconn received approval to invest an additional US$1 billion on top of the US$1.6 billion it had set aside for a new facility in Karnataka.
Meanwhile, Vedanta partnered with Taiwan-based Innolux to set up an 8.6G TFT LCD manufacturing facility. Still, the Indian government has yet to approve the project.
