Vedanta-Foxconn JV To Set Semiconductor Unit In Gujrat

The post Vedanta-Foxconn India will set intangibly sky-high bars for the rest of the world

We are all familiar to the newly old Semiconductor chip crises that impacted global economy leading to the dramatic enhancement of GDP and inflation worldwide which is still very much prevalent in 2022 and has no plans to leave, with us almost entering the year 2024.

The start of the COVID-19 pandemic marks the initiation of absence of modern day’s most quintessential silicon integrated circuit from the mainstream market across the world intensified by the Trade War between USA and China who are one of the biggest exporters of semiconductors across the world.

From the much-anticipated 5G in the telecom industries to automotive sectors semiconductors are the underpinning without a doubt. It also dynamically dominates the healthcare sector as well as the consumer electronics industry.

The semiconductor industry’s promising economy is so obvious that even after the speeding down in the overall market growth, the sales are augmenting worldwide due to its very high demand which got amplified as a result of the cease in export from Industrial giants on controversial grounds.

Human world’s obsession with the semiconductors is very discernible and legitimate. Technology seems to get better and better as a result of the robust developments made in the semiconductor chips with the chips getting smaller and smaller over the years increasing its potency.

With India emerging as a big global economy, it becomes essential for the sub-continent to dive into big oceans of currently relevant businesses with its progressive approach towards the kind of digitalization the worlds have never seen before and that is exactly what India is doing, being a step ahead.

India’s slow rise to power.

Foxconn which is a huge Taiwanese contract manufacturing company also supplier to big names such as Apple, very recently announced its joint venture with Indian company Vedanta to set up a semiconductor chip manufacturing factory in the state of Gujrat. https://tdznkwjt9mxt6p1p8657.cleaver.live/due-to-strong-demand-in-the-technology-sector-foxconn-of-taiwan-raises-full-year-expectations/

Before, Israel based International Semiconductors Consortium (ISMC) signed a MoU with Karnataka Government on account of investing to set up India’s first semiconductor chip fab followed by IGSS Ventures, a Singapore based technology holding investment company had announced their interest to invest in Tamil Nadu to set another semiconductor chip fab followed by signing a MoU with the Government.

The contribution of the Indian Government to boost commencement of domestic semiconductor chip manufacturing Plants across the country looks like a hit with the introduction of Production Linked Incentive Scheme (PLI) which encourages investments in the field of large-scale electronics manufacturing by offering incentives in the form of subsidies.

Business tycoon and billionaire Gautam Adani who is the chairman of the Adani Groups emphasizes on India’s need to become more self-reliant in manufacturing of semiconductors.

The Foxconn-Vedanta joint venture is going to revolutionize the status of India’s technology sector changing it from progressive to strongly metamorphic.

This is eventually going to make India world’s biggest economy on the basis of a country which has made recurring progress only within 75 years of its Independence from a 200 years long British colonization which broke the countries backbone both economically and socially. Had it been any other country, its progress as half of where India stands today is quite questionable and far-fetched.

Economy of a big democracy like India is not only about blunt digits, value of currency, GDP and inflation but factors like time comes into scene with respect to an economical fluctuation that takes place on the graph of a given time period, how it is influenced by the global political instability which obviously brings shifts to the economy worldwide and several other essential factors which we cannot overlook.

Introduction of semiconductor fab units in India is going to change the country’s course of future with India dominating the global market and influencing inflation shifts cross the globe.

Having its own domestic semiconductor chip production will cut India off a big percentage of its budget in importing semiconductor chips from countries like USA, Taiwan, China, etc., further paving the way to lot of job opportunities and helping to creating safe source of income for a good number of families. https://economictimes.indiatimes.com/tech/technology/vedanta-picks-modis-home-state-for-20-bln-india-semiconductor-foray-sources/articleshow/94153179.cms

The Indian subcontinent will attract more and more foreign investments and ventures over time keeping in mind its newfangled ideals and indomitable self-amelioration.