Taiwan's Foxconn has withdrawn from a $19.5 billion semiconductor joint venture with Indian metals-to-oil conglomerate Vedanta, it said on Monday, in a setback to Prime Minister Narendra Modi's chipmaking plans for India.
This is disheartening. Not having local semiconductor production is a liability. I hope we get some capabilities soon.
Agreed,
If Vedanta plans properly and start delivering, then I guess it could turn this into an opportunity instead of a setback.