Why Did Maharashtra Lose Out on Vedanta's Chip Project to Gujarat?
What Is the Vedanta-Foxconn Semiconductor Project? Vedanta had formed a partnership with electronics giant Foxconn in a 60:40 joint venture to manufacture a semiconductor fabrication ecosystem in India. Semiconductor chips, or microchips, are essential pieces of many digital consumer products – from cars and mobile phones to ATM cards. The company had been holding discussions with the Maharashtra government over the last few months to set up the plant. What Subsidies Was the Maharashtra Govt Offering? As per documents of the state's industries department, the Maharashtra government had offered an “extremely lucrative incentive package” to the company, The Indian Express reported. Several other incentives were also announced, such as: · A power tariff subsidy of Rs 1/unit · Support to Vedanta to manufacture a 750 megawatt solar power plant · ...