Taiwan-based Foxconn and STMicroelectronics, a Franco-Italian venture, plan to set up a semiconductor fabrication plant in India, government sources said on Monday, September 11.
The sources said that the two companies have jointly applied for inclusion in the Indian government’s subsidy scheme to promote semiconductor manufacturing in the country.
The Foxconn-STMicroelectronics venture plan to set up a 40-nanometer chip plant in India, the sources said.
The Indian government has asked Foxconn for more details about the partnership with STMicroelectronics, while the former is also in talks with multiple other companies with chip-making technology.
Earlier this year, Foxconn had terminated an agreement with resource major Vedanta Limited to set up a semiconductor fabrication plant in India entailing an investment of $19.5 billion.
