PM Modi meets Foxconn chief days after Taiwanese firm breaks from $20 bn JV with Vedanta
Foxconn's chief met with PM Narendra Modi in Gujarat, where they attended the Semicon India 2023 conference. PM Modi also met with the CEO of Micron Technology.
Foxconn chief Young Liu met Prime Minister Narendra Modi in Gujarat’s Gandhinagar on Friday, where both attended Semicon India 2023 conference. The meeting comes days after the Taiwanese company withdrew from a $20 billion joint venture - Vedanta Foxconn Semiconductors Limited - that would have brought the first chip manufacturing plant in India. The tech giant, however, said that it is planning to apply separately to build a semiconductor manufacturing plant in the country.
Sharing the picture of the meeting between the Foxconn chairperson and PM Modi, the prime minister's office tweeted that the PM welcomed Foxconn's plans to expand semiconductor and chip manufacturing capacity in India.
The tech firm said that it is optimistic about the country's Make In India semiconductor vision. "Absolute privilege & delight to see PM Narendra Modi! Hon Hai Technology Group (Foxconn) optimistic about Make In India semiconductor vision. Together, India & Taiwan are "IT". Diligent, persevering "buffalo spirit" is here. Always your most trusted, reliable partner," it tweeted.
READ HERE: Foxconn plans India semiconductor unit without Vedanta, seeks ‘diverse’ stakeholders
PM Modi inaugurates Semicon India 2023
With a focus on attracting investments in India’s nascent semiconductor ecosystem, the three-day 'SemiconIndia 2023' conference kicked off in Gujarat's capital city on Friday in the presence of PM Narendra Modi.
The conference, which has the theme of the conference is ‘Catalysing India’s Semiconductor Ecosystem,’ is its second edition, organized by India Semiconductor Mission in partnership with industry and industry associations, is aimed to make India a global hub for semiconductor design, manufacturing, and technology development.
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Addressing the conference, PM Modi said technology firms will be given 50 percent financial assistance for setting up semiconductor manufacturing facilities in the country. His government has rolled out the red carpet for chipmakers, he said.
Micron's Sanjay Mehrotra meets PM Modi
On the sidelines of this event, PM Modi also met Sanjay Mehrotra, President, and CEO of semiconductor player Micron Technology.
Micron has selected Gujarat’s SANAND Industrial Park (Gujarat Industrial Development Corporation - GIDC) for a new assembly and test facility and is expected to begin in 2023.