Semiconductor Dreams Shattered

Also in today's edition: ChatGPT Craves Human Experts, Inside India’s Biggest e-Commerce Empire, RIP, Chromecast & Spark vs Presto

India’s semiconductor ambitions have suffered a major setback. Last year, the Indian government launched the PLI scheme with a sanction of INR 76,000 crore. Soon, Indian billionaire Anil Agarwal made headlines with his venture Vedanta, and partnered with Taiwanese company Foxconn to build a chip manufacturing plant in Dholera, Gujarat, spanning 400 acres of land.

However, the plan went for a toss as Vedanta struggled to get financial backing to facilitate the establishment of these units, leading to its ultimate failure. Adding to the disappointment, the Indian government has now put a complete stop on the company’s flakey semiconductor plans, paving the way for other private players to fuel the country’s semiconductor ambitions. 

Looks like we are back to square one now.