Ecosystem for chips in India for the ‘very brave’: Foxconn Chairman Young Liu

The ecosystem for semiconductor chips in India is for the “very brave”, Foxconn Chairman Young Liu said on Friday, as he expressed optimism about the country’s semiconductor roadmap during the second edition of SemiconIndia in Gandhinagar.

The ecosystem for semiconductor chips in India is for the "very brave", Foxconn Chairman Young Liu said on Friday, as he expressed optimism about the country's semiconductor roadmap during the second edition of SemiconIndia in Gandhinagar.

Earlier this month, Taiwan-based Foxconn, which also supplies for smartphone giant Apple, withdrew from a $19.5 billion semiconductor joint venture with Vedanta as the venture struggled to get a technology partner to make chips that are used in mobile phones to refrigerators and cars.

Foxconn is the world's largest contract electronics maker.

Addressing SemiconIndia on Friday, Liu said "The ecosystem for chips in India is for the very brave. Every experience only positions companies stronger going forward."

Notably, the joint venture between Foxconn and Vedanta was signed in February 2022, after which the JV signed a Memorandum of Understanding with the Gujarat government to invest ₹1,54,000 crore to set up a semiconductor plant in the state.

Had it not been called off by Foxconn, the JV would have resulted in independent India’s biggest ever corporate investment and given shape to the country’s first manufacturing facility for semiconductors.

American memory maker Micron Technology subsequently is set to become India’s first semiconductor assembly, announcement for which was made in June this year.