As of now, Vedanta is leading the JV with 67 percent share. Although previous reports suggested that MeitY wanted Foxconn to lead.
After the Government of India reopened semiconductor and display fabs applications for the second time from Jun 1, 2023, sources at the Ministry of Electronics and Information Technology (MeitY) told Business Today exclusively that the Vedanta-Foxconn JV has again resubmitted their applications to MeitY for a 40-nanometer (nm) node semiconductor fabrication plant.
Speaking exclusively with Business Today, Vedanta spokesperson said, “We have submitted the application as per the revised guidelines. We are committed to building a world class fab in India.” A year back, the JV submitted applications for 28-nanometer nodes, but after partnering with a new technology partner, the company has again filed the application for higher nodes. This is because the government has formulated a new strategy of approving application of mature nodes, which is more than 40 nm.
In a previous interaction with Business Today, the new CEO of Vedanta-Foxconn JV, David Reed said, “Some people say you don’t have 3 nm—it is the size of your DNA. I saw an article yesterday 1.5 nm and you know that’s the size of a sugar molecule. So, the point here is that we don’t have to build all that high-end stuff…And that’s where all the chiplets are going to come in. India should focus on the chiplet road map, where you integrate all the stuff, have all the software. We should introduce 55 nm, 90 nm, 65 nm…”
For quite a long time, Vedanta has been undertaking various efforts to foray into semiconductor manufacturing in the country. Vedanta is very keen to hire a lot of talents from various countries, while the new CEO has already onboarded a couple of industry experts in his team.
Reports surfaced that Foxconn has been involved in serious discussions with a couple of global Indian business firms to associate with a new technology partner. As of now, Vedanta is leading the JV with 67 percent share. Although previous reports suggested that MeitY wanted Foxconn with the largest stake.
