Will separately evaluate proposals of Foxconn, Vedanta for semiconductor units in India: MoS Chandrasekhar

The Centre will wait for separate proposals from Taiwan’s Foxconn and Indian conglomerate Vedanta to set up semiconductor plants in the country and evaluate them accordingly, Minister of State for Electronics and IT Rajeev Chandrasekhar said here on Tuesday.

Early this month, Foxconn pulled out of a semiconductor joint venture with billionaire Anil Agarwal-promoted Vedanta. The Taiwanese electronics manufacturing giant said it was working to apply separately for setting up a semiconductor unit in India.

“There were two private partners who submitted a joint venture proposal (to set up a semiconductor unit in India). They now believe they will submit their proposals separately.