A DAY after announcing withdrawal from its chip-making JV with Indian conglomerate Vedanta, Foxconn on Tuesday said it is working on plans to apply for incentives under semiconductor and display fab programme, as the contract manufacturer pledged its commitment to India. The Taiwanese electronics manufacturing giant said it has been actively reviewing landscape for optimal partners. The comment assumes significance as Foxconn has pulled out from the USD 19.5 billion semiconductor JV with Vedanta.

 

“We welcome a diverse set of stakeholders, both inside India and abroad, who also want to see India get to the next level and can complement Foxconn’s world-class supply chain management and manufacturing efficiency,” Foxconn said in a statement on Tuesday. Pledging its commitment to India, Foxconn said it “is working toward submitting an application related to Modified Programme for Semiconductors and Display Fab Ecosystem.” Foxconn said it sees the country successfully establishing a robust semiconductor manufacturing ecosystem. It will take time. Foxconn first entered India in 2006.