Foxconn Withdraws from $19.5 Billion Chipmaking Project in India Amid Financial Concerns

Foxconn backed out of a joint venture with Vedanta to manufacture semiconductors in India.
The $19.5 billion project was meant to help establish India as a tech manufacturing hub.
Delays in government approval and concerns over Vedanta's debt pile contributed to Foxconn's decision.
Foxconn plans to apply for Indian incentives to set up chipmaking facilities with other partners.
India aims to become a major chip producer but faces setbacks in its efforts.