Contract manufacturing of chips will be established in this country.
India’s Semiconductor Incentive Program includes subsidizing the construction of a joint venture between Foxconn and Vedanta to produce chips. The entire project is estimated at $10 billion, as DigiTimes recalls, and the third partner may be the European manufacturer STMicroelectronics, which of all the listed shareholders has the most developed competencies in this area.
Image Source: AFP
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The role of the Indian company Vedanta in the joint venture should become less significant. This conglomerate specializes in the extraction of natural resources, initially in the capital of the Foxconn joint venture it was supposed to give only 40% of the shares. Most likely, this share will be increased, but how many shares STMicroelectronics will receive is not specified. The role of India as an alternative to China in locating electronics production will grow in the coming years. According to some estimates, Apple is going to increase the share of smartphones produced in India to 25% of the entire production program in the coming years. To develop such services, it is necessary to expand the production base, and the joint venture between Foxconn and Vedanta will actively contribute to this goal.
