{"id":251602,"date":"2023-07-11T20:08:51","date_gmt":"2023-07-11T14:38:51","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=251602"},"modified":"2023-07-11T20:08:51","modified_gmt":"2023-07-11T14:38:51","slug":"the-unmaking-of-vedanta-foxconns-chip-dream-what-went-wrong","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/the-unmaking-of-vedanta-foxconns-chip-dream-what-went-wrong\/","title":{"rendered":"The unmaking of Vedanta-Foxconn\u2019s chip dream: What went wrong?"},"content":{"rendered":"\n<p><b>Source: <\/b><span style=\"font-weight: 400;\">The post is based on the article<\/span><b> \u201cThe unmaking of Vedanta-Foxconn\u2019s chip dream: What went wrong?\u201d<\/b><span style=\"font-weight: 400;\"> published in<\/span><b> Indian Express <\/b>on<b> 11th July 2023<\/b><\/p>\n<h2><b>What is the News?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Taiwanese electronics manufacturer Foxconn has announced that it has withdrawn from a joint venture with Vedanta Ltd which was set up to produce semiconductors in India.<\/span><\/p>\n<h2><b>Why is chipmaking crucial for India?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Prime Minister has made chip manufacturing a top priority for India\u2019s economic strategy. This is because:<\/span><\/p>\n<p><b>Firstly,<\/b><span style=\"font-weight: 400;\"> Chips are an integral part of pretty much all electronic products so making them in India will massively improve the country\u2019s net value addition to the overall electronics manufacturing process.<\/span><\/p>\n<p><b>Secondly,<\/b><span style=\"font-weight: 400;\"> building semiconductors in India will eventually help India reduce its imports. The demand for semiconductors in India will reportedly reach around USD 100 billion by 2025, up from the current demand of USD 24 billion.<\/span><\/p>\n<p><b>Thirdly,<\/b><span style=\"font-weight: 400;\"> semiconductor manufacturing also has strategic advantages, as countries don\u2019t want to depend on their imports for essential infrastructure like defence and power.<\/span><\/p>\n<p><b>Fourthly, <\/b><span style=\"font-weight: 400;\">China is currently one of the major destinations for chips manufacturing. As more companies are trying\u00a0 to diversify their bases from China, India has an opportunity to emerge as a reliable destination.<\/span><\/p>\n<p><b>\u2013 Note: <\/b><span style=\"font-weight: 400;\">The United States of America has also passed the <\/span><a href=\"https:\/\/forumias.com\/blog\/india-may-see-trickle-down-benefits-of-us-chips-act\/\"><span style=\"font-weight: 400;\">CHIPS Act<\/span><\/a><span style=\"font-weight: 400;\"> in 2022 providing subsidies of around $280 billion for manufacturing chips in the country. It has also imposed additional restrictions and sanctions on the Chinese semiconductor industry.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source: The post is based on the article \u201cThe unmaking of Vedanta-Foxconn\u2019s chip dream: What went wrong?\u201d published in Indian Express on 11th July 2023 What is the News? Taiwanese electronics manufacturer Foxconn has announced that it has withdrawn from a joint venture with Vedanta Ltd which was set up to produce semiconductors in India.&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/the-unmaking-of-vedanta-foxconns-chip-dream-what-went-wrong\/\">Continue reading <span class=\"screen-reader-text\">The unmaking of Vedanta-Foxconn\u2019s chip dream: What went wrong?<\/span><\/a><\/p>\n","protected":false},"author":10317,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,3127,9],"tags":[10500],"class_list":["post-251602","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-economy","category-public","tag-indian-express","entry"],"jetpack_featured_media_url":"","views":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/251602","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10317"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=251602"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/251602\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=251602"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=251602"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=251602"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}