Why Foxconn is unlikely to forego government incentives for chip making4 min read 07 Mar 2023, 08:18 PM IST
Reports that the Taiwanese manufacturing giant is interested in setting up a semiconductor plant in India even without government incentives should be taken with a large pinch of salt
It has been reported that electronics contract manufacturing major Foxconn (formally, Hon Hai Precision Industries, with unaudited 2022 revenues of $213.84 billion) is interested in setting up, even without any government incentives, a semiconductor plant in India, in addition to the one it already is setting up in collaboration with Vedanta in Gujarat. The story is attributed to an unnamed government official, and should be taken along with more than a smidgeon of salt. (The company has not responded to the report so far.) However, there is no denying the robust interest the company is showing in setting up new lines of production in multiple locations across India.
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