Foxconn scraps 19.5 bln USD Vedanta chip plan in India

NEW DELHI, July 11 (Xinhua) -- Foxconn Monday announced it has decided to pull out from a 19.5 billion U.S. dollar semiconductor joint venture with Indian conglomerate Vedanta.

Foxconn said it is "working to remove the Foxconn name from what now is a fully-owned entity of Vedanta."

The move was seen as a setback to the chipmaking plans of India.

Foxconn, a global contract electronics maker, and Ved