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Semiconductors

India's Vedanta set to choose site for $20bn tech hub with Foxconn

Country pushing to develop local supply chains for chips, other components

Vedanta is teaming up with Taiwan's Foxconn as India pushes for stronger supply chains. (Source photos by AP and courtesy of Vedanta) 

MUMBAI -- Indian metals conglomerate Vedanta is close to selecting a site for a mammoth $20 billion tech hub to churn out microchips, displays and other products, sources told Nikkei Asia, teaming up with Taiwanese electronics giant Foxconn as New Delhi looks to slash supply disruptions from overseas.

Officials from Vedanta, which is increasingly diversifying beyond its core commodity operations, have been visiting a 400-acre (160-hectare) location in Pune in the western state of Maharashtra that is a leading candidate to host the hub, said two people with direct knowledge of the matter. Other possible sites are understood to include in the neighboring state of Gujarat and the southern state of Karnataka.

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