Foxconn Chairman Yang Liu expressed optimism about the country’s semiconductor roadmap during the second edition of SemiconIndia in Gandhinagar on Friday, saying the ecosystem for semiconductor chips in India is “very brave”.
Earlier this month, Taiwan-based Foxconn, which also supplies for smartphone giant Apple, pulled out of a $19.5 billion (roughly Rs. 1,60,300 crore) semiconductor joint venture with Vedanta as the venture was required to produce chips. Had to struggle to get a technology partner to build. Used in everything from mobile phones to refrigerators and cars.
Foxconn is the world’s largest contract electronics manufacturer.
Addressing SemiconIndia on Friday, Liu said, “The ecosystem for chips in India is for very brave people. Every experience makes companies stronger in the future.” Notably, the JV between Foxconn and Vedanta was signed in February 2022, following which the JV signed an MoU with the Gujarat government to invest Rs. Rs 1,54,000 crore to set up semiconductor plants in the state.
Had Foxconn not called it quits, the joint venture would have resulted in independent India’s largest-ever corporate investment and would have shaped the country’s first manufacturing facility for semiconductors.
American memory maker Micron Technology is set to become India’s first semiconductor assembler, it was announced in June this year.
Liu affirmed that Taiwan would be the “most trustworthy and reliable partner” for India.
He said, “Prime Minister Narendra Modi once told me that IT means India and Taiwan. Honorable Prime Minister, Taiwan is and will remain your most trusted and reliable partner. Let’s do this together!”
Liu also talked about Taiwan’s “buffalo spirit”, and how it can be applied in India for semiconductor development.
“India has said that its government’s talk-to-do ratio is high. This kind of confidence is important as India’s semiconductor development is just getting started.” He said many people with different expertise need to work together and overcome challenges.
Foxconn had earlier said it was actively reviewing the scenario for optimal partners after withdrawing from the semiconductor joint venture project with Vedanta.
“Foxconn is working towards submitting an application related to the revised program for semiconductors and display fab ecosystems. We are actively reviewing the landscape for optimal partners,” Foxconn said in a statement.
