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Foxconn: Apple supplier drops out of $20bn India factory plan

2023-07-11 12:16
Some analysts say Foxconn's decision marks a setback to the country's technology industry ambitions.
Foxconn: Apple supplier drops out of $20bn India factory plan

Apple supplier Foxconn has pulled out of a $19.5bn (£15.2bn) deal with Indian mining giant Vedanta to build a chip making plant in the country.

The move comes less than a year after the companies announced plans to set up the facility in Prime Minister Narendra Modi's home state of Gujarat.