Foxconn said it is "working to remove the Foxconn name from what now is a fully-owned entity of Vedanta."
The move was seen as a setback to the chipmaking plans of India.
Foxconn, a global contract electronics maker, and Vedanta, an Indian multinational mining company, had inked an agreement in September 2022 to invest 19.5 billion U.S. dollars to set up semiconductor and display production plants in Gujarat state.
India's federal junior minister for electronics and information technology Rajeev Chandrasekhar Monday said Foxconn's decision would have no impact on India's semiconductor fabrication plant goal.
Latest comments