Foxconn, a Taiwanese electronics manufacturing company, has announced its plans to potentially apply for incentives under India’s Semiconductor and Display Fab program to set up a separate semiconductor (chip) manufacturing unit in the country. In a statement released on Tuesday, the company expressed confidence in India’s ability to develop a semiconductor manufacturing ecosystem, although it acknowledged that this may take some time.
Foxconn has been present in India since 2006 and continues to operate in the country. The company recently announced its exit from a semiconductor joint venture with Vedanta.