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'Bad news for Congress because...': Amit Malviya's dig at Cong over Foxconn-Vedanta
Congress is celebrating as if they were waiting for a moment which would delay India's ambitious foray into semiconductor manufacturing.
BJP spokesperson Amit Malviya said it is bad news for the Congress that Foxconn and Vedanta's deal falling through does not mean Foxconn won't work in India's semiconductor sector. "This is bad news for the Congress, which actively attempts to scuttle any new initiative India takes. It is now worried that India's rise as a semiconductor manufacturing hub will further consolidate its position in the world as a credible player in the technology domain. The Congress loathes a confident and self-reliant India," Malviya tweeted.
Taking a jibe at Congress general secretary Jairam Ramesh, Malviya said it is tough for the Congress leader to understand but semicondutors manufacturing is a very complex and technology-intensive sector and India's past efforts did not succeed.
"Under the leadership of Prime Minister Modi, a comprehensive semiconductor program formulated to provide uniform incentive of 50% to support design, manufacturing and packaging. Program also supports R&D, talent and capacity building," Malviya said.
Foxconn applying separately for a semiconductor manufacturing unit
The failure of the Vedanta-Foxconn deal is not the end of Foxconn's work opportunities in India as the Taiwanese firm said it is planning to apply separately for setting up a semiconductor manufacturing unit and actively reviewing the landscape for "optimal partners".
What happened to the Vedanta-Foxconn deal?
Foxconn on Monday announced that it decided to pull out of the semi-conductor joint venture with Vedanta planned in Gujarat. This became a political flashpoint as the Foxconn-Vedanta was initially planned in Maharashtra and then the project went to Gujarat.
Union minister Rajeev Chandrasekhar said the Foxconn-Vedanta break-up will not impact India's semiconductor prospects. "It's not for govt to get into why or how two private companies choose to partner or choose not to, but in simple terms it means both companies can & will now pursue their strategies in India independently, and with appropriate technology partners in Semicon n Electronics," Chandrasekhar tweeted.
A Reuters report claimed both Foxconn and the Centre had concerns over Vedanta's financial situation. Vedanta, however, said its financial position is strong and these speculations are baseless.
