He also said that both companies can now pursue their strategies independently in the nation with appropriate technology partners in semiconductors and electronics.
Source: CNBC TV 18
The withdrawal is undoubtedly bad news for the India Semiconductor Mission (ISM), which plans to create a thriving semiconductor and display design ecosystem to help India become a major centre for electronics production and design worldwide.
Even though the Union government has expressed optimism despite the reversal, it is important to look closely at the incompatibility that caused the Vedanta-Foxconn split. In order to prevent a repeat of this disaster, the financial and technological concerns that affected the outcome must be resolved.
Four projects with a combined budget of Rs 76,000 crore had been established under the ISM, the Centre had informed Parliament in March.
Source: The Economic Times
The success of this objective, as well as the ‘Make in India’ effort, depends on creating an environment that encourages collaboration between domestic and international businesses.
If the government makes a major effort to encourage and incentivize knowledge transfer as well as to foster joint research and development in the semiconductor sector, India’s attempts to decrease imports from China and grow as a player in the global electronics value chain can succeed.
What do you think about this? Comment below.
