Foxconn pulls out of $19.5 billion chipmaking JV with Vedanta

Taiwan's Foxconn is pulling out of a $19.5-billion joint venture with Vedanta that was set up to produce semiconductors from India. Foxconn and Vedanta signed a pact last year to set up semiconductor and display production plants in Gujarat. "Foxconn is working to remove the Foxconn name from what now is a fully-owned entity of Vedanta," a statement said.