GlobalFoundries eyes tieups for fab unit in India

economictimes.indiatimes.com:

GlobalFoundries is scouting for local partners to set up a chip fabrication unit, sources told ET, as India seeks to deploy a comprehensive semiconductor manufacturing policy aimed at establishing its leadership credentials in the future. GlobalFoundries (GF) was earlier in talks with a few companies from the country. Those plans, however, did not materialize owing to the latter’s lack of credible expertise and experience in manufacturing electronics products, a source said.

“These are long-drawn talks and may take a couple of years also before any concrete plans are finalised,” the source said. The person added that the company is quite interested in investing in India, given the availability of talent and other advantages that the country has. Responding to ET's queries, GF said it doesn't «comment on market rumours».

ET had earlier reported that the Vedanta-Foxconn joint venture had inked a memorandum of understanding with GF and European chipmaker STMicroelectronics for the technology to fabricate semiconductor chips. Sources had then told ET that the Indian government had also suggested both GF and STMicro take an equity stake in the partnership they were planning with the Vedanta-Foxconn combine. These talks, however, fell through and Foxconn, one of the two partners of the JV, walked out of the partnership earlier this year in July.