The project is still in need of a technology partner and a manufacturing-grade technology license to proceed with the construction of 28nm chips
The Indian government is expected to withhold crucial funding for Anil Agarwal’s chip venture, dealing a blow to the billionaire’s aspirations of establishing India’s version of Silicon Valley, according to a recent Bloomberg report. Sources familiar with the matter revealed that the authorities are likely to inform the joint venture between Vedanta and Taiwan’s Foxconn that it will not receive incentives for the production of 28-nanometer chips.
The venture’s application for government assistance, seeking billions in funding, has reportedly failed to meet the government’s specified criteria. Additionally, the project is still in need of a technology partner and a manufacturing-grade technology license to proceed with the construction of 28nm chips.