Taiwanese electronics giant Foxconn withdrew from a $19.4 billion deal with India's Vedanta to make semiconductors in the South Asian nation owing to"challenging gaps", it announced Tuesday.
The plan was to boost New Delhi's self-reliance in the technology supply chain, given that semiconductors are an essential component of nearly all modern electronics - powering everything from coffee machines to electric cars.
While Vedanta did not confirm the pull-out, it reiterated that it is"fully committed to its semiconductor fab project", adding that there are other partners in line to set up India's first foundry.
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