Shulou(Shulou.com)11/24 Report--

CTOnews.com, June 23, according to CNBC, Foxconn has made new progress in its stagnant semiconductor project in India, and the Indian government has asked Foxconn and its partner Vedanta to resubmit their application documents for building semiconductor factories in India.

Reported that Indian Minister of Information Technology and Telecommunications Ashwini Vaishnaw said that Foxconn and its local partner Vedanta in India have been asked to re-submit application documents, the Indian government will evaluate according to the new proposal. CNBC analysts believe that this statement is aimed at the Foxconn Group and Vedanta joint venture to build India's first semiconductor factory subsidy application.

CTOnews.com has previously reported that Foxconn's Indian semiconductor project is still stuck in the approval stage, and Vijay Nehra, Gujarat's science and technology secretary, said more patience was needed. In addition, another major semiconductor flagship project in India, the fabs built by Israel High Tower Semiconductor with an investment of $3 billion (CTOnews.com Note: about 21.54 billion yuan currently) have also been delayed due to Intel's acquisition of High Tower.

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