Foxconn Looking To Set Up 4-5 Semiconductor Fabrication Units In India: Report

Taiwanese technology giant Foxconn has expressed its intention to establish four to five semiconductor fabrication units in India, the Economic Times reported on Tuesday.

According to the report, Foxconn has informed the Ministry of Electronics and Information Technology about two memoranda of understanding (MoUs) it has signed with technology partners.

On Tuesday, Foxconn stated that it intends to seek incentives under India's semiconductor manufacturing strategy. This move comes just one day after the company announced its decision to withdraw from a $19.5 billion semiconductor joint venture with Indian conglomerate Vedanta.

The official expressed confidence that Foxconn will be able to submit the final application and issue a formal announcement within the following 45 to 60 days because they are familiar with the processes.

While one production line is expected to be set up in Gujarat, Foxconn may also consider other potential locations, the Economics Times report said.

According to Foxconn, the decision to leave the joint venture with the Indian company Vedanta was made when both parties realised that the project was not moving forward at the anticipated rate. Foxconn acknowledged "challenging gaps" that were difficult to fill but made clear that the choice was positive.

To create semiconductor manufacturing facilities in India, Foxconn is currently in discussions with a number of national and international partners.