Indian conglomerate Vedanta Electronics tied with manufacturing services giant Foxconn

Indian conglomerate Vedanta Electronics tied with manufacturing services giant Foxconn

Daily Current Affairs   /   Indian conglomerate Vedanta Electronics tied with manufacturing services giant Foxconn

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Category : Miscellaneous Published on: February 18 2022

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  • Indian conglomerate Vedanta has signed a pact with electronics manufacturing services giant Foxconn to form a joint venture (JV) for manufacturing semiconductors in India.
  • Vedanta is the first company to make the announcement to invest in semiconductor manufacturing after the government announced a Rs 76,000-crore programme to boost electronic chip and display ecosystem in the country.
  • The collaboration between Vedanta and Foxconn follows the government's recent policy announcement for electronics manufacturing and PLI scheme for incentivising organisations to contribute towards the development of this sector.
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