semiconductor project will involve a $5 billion investment. The venture will be ready with a made-in-India chip in two and a half years. We are in talks with partners and will have separate part- ners for the foundry, chips, packaging and testing, which will be finalized over the next few months," Agarwal said.
After Taiwanese contract chip manufacturer Foxconn withdrew from the joint ven- ture with Vedanta Group, the latter said it is committed to building India's first semiconductor and display fab at the Dholera special invest- ment region (DSIR) in Guja- rat. Sources in the electron- ics and IT ministry said Ve- danta has already submitted a fresh proposal for the pro- ject in Dholera and it is under consideration.
"The ecosystem for chips in India is for the very brave. Every experience only posi- tions companies stronger go- ing forward," said Foxconn chairman Young Liu, as he expressed optimism about the country's semiconductor roadmap during the inaugu- ral ceremony.
Both Foxconn and Vedanta have now decided to apply for chip-making incentives separately.
Foxconn said it is work- ing on plans to apply for in- centives under the semiconductor and display fab programme, as the contract manufacturer pledged its commitment to India. "We have been actively reviewing the landscape for optimal partners," a company state- ment said.
Just before the Vedanta- Foxconn joint venture was dissolved, American chip- maker Micron Technologies had signed a memorandum of understanding (MoU) with the state government committing to invest $825 million to set up an assembly, testing and packaging unit at Sanand near Ahmedabad. Micron on Friday reaffirmed its commitment to establish India's first semiconductor plant in Gujarat, creating 5,000 direct jobs and serving demand from domestic and international markets.