April 25, 2024

Foxconn Pulls out of $19.5 Billion Chip Deal in Setback for Narendra Modi’s Tech Agenda

Taiwan-based tech giant Foxconn announced Monday its withdrawal from a $19.5 billion joint semiconductor manufacturing deal with Indian metal and energy company Vedanta. The deal’s collapse is a setback for Indian Prime Minister Narendra Modi’s plan to make India a leading source of computer chips and a personal disappointment because the Foxconn-Vedanta plant would have

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