Thursday, 1 June, 2023

India Likely to Withhold Funding for Vedanta-Foxconn Chip Venture

According to a report, India is poised to deny funding for the joint chip manufacturing venture between Vedanta and Foxconn. The decision is driven by concerns over national security and reliance on foreign technology. The move reflects India's efforts to boost domestic chip manufacturing capabilities and reduce dependence on imports. By withholding funding, India aims to prioritize indigenous development in the semiconductor industry.