Deal broken with Vedanta, Foxconn will now set up a semiconductor plant in India with this company.

After breaking the deal with Vedanta, Foxconn has found a new partner to set up a semiconductor plant in India. After which the dream of setting up the first semiconductor plant in India can be fulfilled. Let's know who is the new partner of Foxconn

The world's leading semiconductor Taiwanese company Foxconn's deal to set up a semiconductor plant with Vedanta has been broken. Foxconn, the maker of iPhone parts, has found a new partner after the deal broke down. After which now the dream of setting up a semiconductor plant in India is nearing completion. Actually, Foxconn is going to get the support of STMicroelectronics NV after the deal with Vedanta is broken. Talks are on between the two companies to set up a plant in India.

Both companies want to support the government

While Foxconn is a Taiwanese manufacturing company, ST micro is a French-Italian company. Both these companies want to support the Government of India to set up a 40 nanometer chip plant. Actually, India wants to become self-sufficient in the matter of semiconductor. These chips are installed in cars, cameras, printers and other things. Prior to STMicro, Foxconn had tried to set up a semiconductor plant with billionaire Anil Agarwal's Vedanta Resources. However, this partnership broke down after a year's modest progress.

Foxconn trusts India

Foxconn is one of the world's largest contract manufacturing companies. It makes many products for Apple, including parts for the iPhone. The company's manufacturing was earlier China based, which is now being shifted to India as well. Foxconn also plans to set up an electric vehicle factory in India. The company's chairman had recently said that in the coming years, India can replace China as the world's manufacturing hub.

Foxconn also admitted that Make in India has power

Young Liu, CEO of Foxconn Company, has also accepted that there is potential in India's Make in India. Company's CEO CEO Young Liu has once again praised Prime Minister Modi in the recent press conference held in Taipei, expressing confidence in India's production and Make in India. He has said that India's Make in India project has opened new investment opportunities here. He said that in the coming times, India can emerge as a manufacturing center for the world.