Winning Bizness Sports Desk
Mumbai. The Taiwanese company Foxconn had earlier announced to break the agreement with Vedanta. The world's largest contract electronics manufacturer Foxconn said the two companies had decided to part ways by mutual consent. However, along with breaking this agreement, Foxconn also said that even though the agreement with Vedanta was broken, their intention to invest in India has not changed and to expand and diversify its business, Foxconn is now looking to enter chip manufacturing. Notavly, Foxconn is known for assembling (manufacturing) the iPhone and other Apple products.
According to reports, Taiwan's Foxconn Technology Group is teaming up with STMicroelectronics NV to set up a semiconductor factory in India. Foxconn and French-Italian STMicro plan to jointly apply to set up a 40-nanometer chip plant in India. The two companies plan to jointly make chips that will be used in cars, cameras, printers and many other machines. The report quoted a source as saying that the Indian government has sought more information from Foxconn about its partnership with STMicro. Foxconn is also said to be in talks with some other companies that have chip-making technology. However, there is no response from the Government of India on this yet. Also, Foxconn and STMicro have declined to comment.
Taiwan trusts India
Young Liu, chairman of Foxconn Technologies, says that if there are no major changes in the future, India will become the world's new manufacturing hub and Taiwan will be India's most reliable partner. Foxconn's partnership with Vedanta Resources Limited, owned by billionaire Anil Agarwal, known as the mining king, has recently come to light. The official reason for the breakup of this partnership is yet to be revealed. However, it is said that the main reason for the breakup of this partnership is that neither Foxconn nor Vedanta have much experience in chip manufacturing.
As soon as the agreement with Vedanta was broken, Foxconn had said that it would apply separately to set up a semiconductor manufacturing unit in India. Foxconn had said that it plans to apply for incentives (PLI Scheme) provided by the Government of India under its Semiconductor Manufacturing Policy.Meanwhile, Taiwan's Foxconn Technology canceled a $19.5 billion investment deal with India's Vedanta Group to set up a semiconductor manufacturing plant in Gujarat.
What is a chip conductor?
Chip conductors act as human brains in vehicles and electronic devices. A semiconductor chip is a semiconductor made of silicon and is used to control electric current. Data processing is done by semiconductor chip only. For this reason it is called the brain of an electronic device. Today, chip conductors are widely used in everything from cars to electronic devices. Cars and electronic devices run high-tech features with the help of chip conductors.
Why are semiconductors so important?
Semiconductor chips are an essential part of today's electronics products. It is used for communication and data storage in smartphones along with storing data in computers and laptops. In the entertainment industry, semiconductor chips are used in digital cameras, televisions, and other devices to increase their capacity and performance. These chips are used in the automotive industry to enhance control and communication systems in vehicles. The top 5 semiconductor producing countries in the world include Taiwan, China, Japan, South Korea and the US. Semiconductor chips are currently in the highest demand in China.
