Taiwanese electronics company Foxconn Technology Group has reportedly revealed its plans to collaborate with STMicroelectronics for a proposal to establish a semiconductor facility in India.
A Bloomberg News report stated that the partners have applied for a production-linked incentives (PLI) scheme to secure support for the construction of the facility, which will manufacture 40-nanometer chips.
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According to the sources reported by Bloomberg, the Indian Government has requested Foxconn for further information regarding its collaboration with STMicro.
Foxconn is also reportedly in negotiations with a few additional companies regarding chip manufacturing in the country.
The news comes after Foxconn and Indian multinational group Vedanta reportedly called off their agreement in July to form a joint venture (JV) that will manufacture semiconductors in India.
In December 2021, the Indian Government launched the Semicon India Programme and pledged a $10bn outlay for the development of semiconductors and display manufacturing ecosystem in the country.
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By GlobalDataUnder the Modified Semicon India Programme, companies, consortia or JVs can avail a fiscal incentive of 50% of the project cost to establish semiconductor fabrication plants in India.
The programme is part of the country’s efforts to minimise dependency on expensive imports and reliance upon Taiwan and China.
In June, US memory chip company Micron Technology revealed plans to build a new assembly and test facility in Gujarat, India.
