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India begins to develop the electronic chip sector.. and the head of Foxconn praises the ecosystem


Apple supplier Foxconn CEO Young Liu praised India's chip ecosystem and was optimistic about the country's semiconductor roadmap. 
Speaking during the second edition of SemiconIndia, Liu said that Taiwan will be the "most trusted and reliable partner" of India, referring to Indian Prime Minister Narendra Modi's earlier remarks that IT means India and Taiwan.
Liu also mentioned the issue of Taiwan and how India can apply the same method to develop the semiconductor ecosystem where the development of this sector has been initiated in the country. 
Liu also mentioned that a workforce with diverse experiences is needed to work together and mitigate challenges, especially after the failure of the Foxconn-Vedanta chipmaking project, but emphasized that there is still hope. 
Foxconn backed out of a $19.5 billion semiconductor joint venture with local firm Vedanta earlier this month.  
In February 2022, a joint venture was signed between these two companies to manufacture chips used in many products ranging from mobile phones to cars. 
Later the joint venture also signed a Memorandum of Understanding with the Government of Gujarat. The company has promised to invest Rs 1,54,000 to set up a semiconductor plant in the state. 
This project would have given India its first semiconductor manufacturing facility, but in June US-based memory maker Micron Technology also announced that it would become India's first semiconductor group.  
However, there is still some hope as Foxconn is still in the game. After the project failed, the company confirmed that it was looking for suitable partners. 
"Foxconn is working on an application related to the Modified Semiconductor Program and the Display Fab ecosystem. We have been actively reviewing the landscape for optimal partners," the company said in a statement.