The joint venture of Indian company Vedanta and Foxconn has signed an MoU with the Gujarat government for a semiconductor project after having rounds of discussion with the Maharashtra CM and Deputy CM. After failing to grab the project, the Opposition in Maharashtra alleged that the state govt surrendered to PM Modi because of the Gujarat elections. With an aim to make India self-reliant in the electronics sector, Vedanta and Foxconn, in a 60:40 joint venture respectively, are setting up a semiconductor fabrication ecosystem.
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#vendanta #maharashtra #foxconn