, Columnist
India’s Latest Chip Venture Is Little More Than a Piece of Paper
Prime Minister Narendra Modi may want India to enter the global chip race, but a supposed new tie-up barely moves it down that path.
Time to temper your expectations.
Photographer: I-Hwa Cheng/BloombergThis article is for subscribers only.
This week’s announcement that India’s Vedanta Group has tied up with Taiwan’s Foxconn Technology Group to make chips is being lauded as proof that New Delhi is gaining traction with its plans to build a semiconductor industry. That’s hardly the case.
Those hopeful that India can establish a foothold in the sector should temper their expectations, and instead keep an eye on the government of Prime Minister Narendra Modi for evidence that he will truly follow through on his big, expensive plan to build a local chip industry.