From a failed $20 billion joint venture to stalled projects, India’s dreams of becoming a chipmaking powerhouse are off to a bad start

• Foxconn said Monday it’s scrapping a $20 billion JV with Indian conglomerate Vedanta to make semiconductors. 
• Other plans to boost India’s chipmaking sectors are also progressing slowly.
• Indian Prime Minister Narendra Modi’s government wants to make India a chipmaking powerhouse.

India has big plans to boost its chipmaking industry, but the country is already meeting setbacks.

On Monday, Taiwan’s Foxconn — best known for being a major parts supplier to Apple — said it’s withdrawing from a $19.5 billion joint venture with Indian conglomerate Vedanta without citing a reason for the breakup.