<p>Taiwan's Foxconn said on Monday it had partnered with Indian conglomerate Vedanta Ltd to make semiconductors in the South Asian country, as the electronics giant looks to diversify its business amid a global chip shortage.</p>.<p>Foxconn, the world's largest contract electronics manufacturer and a major Apple supplier, has expanded into areas including electric vehicles (EVs) and semiconductors in recent years.</p>.<p>In a statement, Foxconn said it had signed a memorandum of understanding with oil-to-metals group Vedanta to make semiconductors, calling it "a significant boost to domestic manufacturing of electronics in India."</p>.<p>Foxconn said it would invest Rs 897 crore to set up a joint venture company with Vedanta, which would be the majority shareholder of the new venture. Foxconn would hold 40% of the venture's shares, it added.</p>.<p>"This first-of-its-kind joint venture between the two companies will support Indian Prime Minister Narendra Modi's vision to create an ecosystem for semiconductor manufacturing in India," the statement said.</p>.<p>The Taiwan company has in recent years counted semiconductors among its core businesses and last year formed a partnership with Yageo Corp to make semiconductor chips, following a global chip shortage that has rattled producers of goods from cars to electronics.</p>.<p>The company has also in recent years announced plans to become a major player in the global EV market, and has said it was in talks with "related foundries" on possible collaboration to make chips for EVs.</p>.<p><strong>Watch latest videos by DH here:</strong></p>
<p>Taiwan's Foxconn said on Monday it had partnered with Indian conglomerate Vedanta Ltd to make semiconductors in the South Asian country, as the electronics giant looks to diversify its business amid a global chip shortage.</p>.<p>Foxconn, the world's largest contract electronics manufacturer and a major Apple supplier, has expanded into areas including electric vehicles (EVs) and semiconductors in recent years.</p>.<p>In a statement, Foxconn said it had signed a memorandum of understanding with oil-to-metals group Vedanta to make semiconductors, calling it "a significant boost to domestic manufacturing of electronics in India."</p>.<p>Foxconn said it would invest Rs 897 crore to set up a joint venture company with Vedanta, which would be the majority shareholder of the new venture. Foxconn would hold 40% of the venture's shares, it added.</p>.<p>"This first-of-its-kind joint venture between the two companies will support Indian Prime Minister Narendra Modi's vision to create an ecosystem for semiconductor manufacturing in India," the statement said.</p>.<p>The Taiwan company has in recent years counted semiconductors among its core businesses and last year formed a partnership with Yageo Corp to make semiconductor chips, following a global chip shortage that has rattled producers of goods from cars to electronics.</p>.<p>The company has also in recent years announced plans to become a major player in the global EV market, and has said it was in talks with "related foundries" on possible collaboration to make chips for EVs.</p>.<p><strong>Watch latest videos by DH here:</strong></p>