Foxconn has informed the Indian government of its plans to set up four to five chip fabrication facilities in India, reported the Economic Times (ET), citing sources.
The news comes just a few days after the Taiwanese electronics manufacturer exited the $19.5bn (Rs1606.2tn) semiconductor partnership with Vedanta, an Indian conglomerate.
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Later, Foxconn said it will independently apply for India chip incentives and was looking into new business partners.
Citing a senior government official, ET reported that Foxconn has told India’s Ministry of electronics and information technology about the specifics of at least two memorandums of understanding it has signed with technological partners.
“We have asked them to sign definitive agreements and come back to us with the details on the proposed technology, the nature of agreements, the people involved in these, among others,” the official was quoted by the publication as saying.
The tech partner is expected to have some equity in the new initiative, the official said, adding that given Foxconn is aware of the processes, it is expected to be able to submit the final application and make the announcement in 45–60 days.
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By GlobalDataAnother individual with knowledge of the development stated that while at least one of these production lines is expected to be established in Gujarat, Foxconn may also look into other potential regions.
“We welcome a diverse set of stakeholders, both inside India and abroad, who also want to see India get to the next level and can complement Foxconn’s world-class supply chain management and manufacturing efficiency,” Foxconn was quoted as saying by ET.
Separately, citing a top government official, Reuters reported that Gujarat state is in talks with Foxconn to set up a semiconductor facility.
Gujarat Science and Technology Department secretary Vijay Nehra said: “We are in touch with multiple prospective investors, including Foxconn – Gujarat is uniquely positioned to attract top chipmakers.”
