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Semiconductor deal: After Vedanta, the Taiwanese company may also leave HCL!

For Taiwanese semiconductor company Foxconn, the road to setting up a factory in India does not look easy. First the company's deal with the Vedanta Group fell through and now the deal with HCL is in doubt. The government has now asked both the companies to share more details of their projects.
2 Month ago

India wants to become a world leader in the world of semiconductors by becoming an alternative to China. But this way is not so easy. Taiwanese company Foxconn was earlier in talks with Anil Agarwal's Vedant Group to set up its factory in India, however, that deal fell through and now the company is working on a joint venture project with Shiv Nadar's HCL, but this too has seen cloud of crisis. have been

The application related to the project has fallen to the government

In fact, HCL and Taiwan's Foxconn Group have planned to set up a semiconductor chip assembly unit in a joint venture. But the government is not satisfied with their proposal. The government has now asked both the companies to share more details of their projects. Currently, the application related to the joint venture project of both has fallen with the government. Both have applied for incentives under 'Semiconductor Mission'.

India has formulated the Semiconductor Mission to become self-reliant in semiconductors and increase its exports from the country. This mission is worth 10 billion dollars.

The government needs this information

According to a private portal, the government has asked companies on which technology their 'outsourced assembly and testing' (OSAT) factories will operate. That is, what technology will the technology partner transfer to this company? HCL and Foxconn need a technology partner for this factory. The government has also sought information from the company regarding the output of the factory.

HCL and Foxconn announced their joint venture in January this year. Under this, both the companies are going to invest 10 to 15 million dollars in India.

Semiconductor plant of India

Recently, the central government has approved 3 semiconductor projects, in which CG Power will set up a semiconductor plant in Gujarat in collaboration with Japan's Renesas Electronics Corp and Thailand's Stars Microelectronics. While Tata Semiconductor Assembly and Test Pvt Ltd will set up a plant in Assam's Morigaon and Tata Electronics Pvt will set up a plant in Gujarat along with Taiwan's Powerchip Semiconductor Manufacturing Corp.

An investment of around Rs 91,000 crore in Dholera plant

The government estimates that in these three semiconductor units, a total of Rs. 1.26 lakh crore investment will come. Tata Electronics Pvt Ltd will invest around Rs 91,000 crore in Dholera plant in Gujarat, Tata Semiconductor Assembly and Test Pvt Ltd in Assam will invest Rs. 27,000 crore, while CG Power will invest Rs. 7,600 crore will be invested.

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