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.