India s semiconductor dreams had a rude wakeup call this week. The Taiwanese electronics manufacturing behemoth Foxconn withdrew from a Rs19.5 billion semiconductor joint venture with mining baron Anil Agarwal s Vedanta Ltd leaving the technology industry shellshocked.

Ericsson flagged risks of being unable to supply equipment due to throttling of supplies of key ASIC and FPGA components, printed circuit boards, standard electronics or semiconductors (including foundry node availability) from very few suppliers, due to various reasons including natural disasters, conflicts or other potentially disruptive events.

Global sales of total semiconductor manufacturing equipment by original equipment manufacturers next year are forecast to bounce back from a projected contraction of 18.6% to Rs87.4 billion in 2023 following the industry record of Rs107.4 billion in 2022, SEMI announced today in its MidYear Total Semiconductor Equipment Forecast OEM Perspective at SEMICON West 2023.

I am confident that this project will lay a strong foundation for our other multiple plans, spanning mechanical/precision machinery, electric vehicle, IC design and semiconductor segments to consider your state as a potential investment destination, Liu had said in a letter to Bommai after signing the agreement.

It noted that the cutdown on workforce was part of implementing further spending reductions and streamlining operations, while still keeping an eye on the significant growth and diversification opportunities ahead.

As per the MoU, the automaker and NXP will jointly explore the electric and connected vehicle landscape, covering a wide range of vehicles including utility vehicles, light commercial vehicles, farm equipment, and tractors, Mahindra & Mahindra said in a statement.

I am confident that this project will lay a strong foundation for our other multiple plans, spanning mechanical/precision machinery, electric vehicle, IC design and semiconductor segments to consider your state as a potential investment destination, Liu had said in a letter to Bommai after signing the agreement.

The London-based company’s Indian unit Vedanta Ltd.’s semiconductor-making ambitions were dealt with a blow this week after its Taiwanese partner Hon Hai Technology Group decided to part ways on the planned Rs19 billion joint venture, leaving the firm alone to develop a project where it holds little expertise.