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Last updated: July 10, 2023, at 20:40 IST
Union Minister for Railways, Communications, Electronics and Information Technology Ashwini Vaishnau. (Twitter profile)
Speaking exclusively to Network 18, Vaishinau affirmed that “Both companies are fully committed to India’s semiconductor mission and the Make In India drive.”
Union Minister Ashwini Vaishnow said Foxconn’s withdrawal from its $19.5 billion semiconductor joint venture with Vedanta would not have any impact on India.
speaks exclusively to Network 18Vaishinau emphasized that “both companies are fully committed to India’s semiconductor mission and the Make In India drive.”
It comes as Taiwanese company Foxconn announced its withdrawal from a $19.5 billion joint venture with Indian mineral-to-oil company Vedanta, in a major setback for the government’s chipmaking ambitions.
It comes after opposition leaders continued to consider the Bharatiya Janata Party-led government center on the issue.
Shiv Sena leader Aditya Thackeray said in a tweet, “This project, as we have said several times earlier, was entirely possible in Maharashtra. The Maharashtra government should also explain why this project has moved from a high-viability site – Pune district to Gujarat, even after the illegal declaration in the Assembly, and meet with them.
This project, as we have said many times earlier, was quite possible in Maharashtra. The Maharashtra government should also explain why this project has turned from a viable site, even after the illegal declaration in the assembly, and fulfill them. Pune to… https://t.co/ScJ498gONk
– Aditya Thackeray (@AUThackeray) July 10, 2023
“This is a loss for India, and Maharashtra could have pushed this growth story for India,” Thackeray added.
Apart from him, Rajya Sabha MP, Priyanka Chaturvedi also commented on the case saying, “Taking it away from Maharashtra to Gujarat – which by experts was not conducive to semiconductor industry, inability to raise funds as expected has led to the collapse of An idea before you start. What a tragedy.”
Congress leader Jairam Ramesh joined in the chorus and also criticized the Modi government and said “Remember the propaganda at the time of the project’s announcement? Gujarat CM claimed that 1 lakh jobs will be created!”
“This has been the fate of the many MoUs signed at the Vibrant Gujarat summits year after year, and it will be the fate of other copycat summits such as the Global Investor Summits in UP. Whether Gujarat Model or ‘New India’ never trusts manufactured headliners” .
This comes, the Taiwan-based Hon Hai Technology Group, Foxconn, issued an official statement saying, “In order to explore more diversified development opportunities, in accordance with mutual agreement, Foxconn has decided that it will not proceed with the joint venture with Vedanta.”
“We will continue to grow our semiconductor team, and have a production-grade technology license for 40nm (chips) from a prominent Integrated Device Manufacturing (IDM) company. India continues to play a pivotal role in realigning global semiconductor supply chains.”
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