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[ad_1] NEW DELHI: In a first, Vedanta and electronics manufacturing firm Foxconn on Monday unveiled their plan to set up a semiconductor and display manufacturing facility in Ahmedabad, news agency PTI reported quoting sources. This will be the first manufacturing facility for semiconductors in India. The joint venture had last year signed a memorandum of understanding (MoU) with the Gujarat government to invest Rs 1,54,000 crore to set up the plant in the state. The deal was biggest ever corporate investment in the history of independent India. "After a detailed site analysis in consultation with Gujarat government authorities, the joint venture entity of Vedanta and Foxconn has selected Dholera SIR for setting up their semiconductor and display manufacturing facility. The project is in the advanced stage of evaluation by the government of India," the official told PTI. The facility that will be set up in Gujarat is expected to create 1 lakh job opportunities, Gujar...

[ad_1] Foxconn Technology Group has bought $33 million worth of equipment from an Apple unit for its operations in India over the past year, signaling the key iPhone assembler’s accelerating expansion in the country. An Indian subsidiary of the Taiwanese company acquired equipment from Apple Operations Ltd. for operational needs, according to a filing from Foxconn’s Taipei-listed flagship unit Hon Hai Precision Industry Co. The filing offered a rare glimpse into Foxconn’s dealings with its biggest customer, which sometimes helps finance the cost of equipment that the Taiwanese company uses to make the majority of the world’s iPhones. In May, minister of state for technology Rajeev Chandrasekhar said that Apple is interested in increasing electronics production in the country, a month after the US company’s Chief Executive Officer Tim Cook renewed a pledge to invest in the region during a meeting with Prime Minister Narendra Modi. Apple Inc. tripled iPhone production and assemb...