billionaire anil agarwal net worth, Anil Agarwal’s dream project of ‘Chip Factory’ stuck, why did the government refuse funding? Billionaire Anil Agarwal’s chip dreams break down as India set to deny funding

Shock to Anil Agarwal

Vedanta Chairman Anil Agarwal had announced last year to set up a chip plant in India with an investment of $19 billion, but it seems that this dream is not easy to come true. According to a Bloomberg report, the Indian government may deny incentives to Anil Agarwal’s Vedanta and Taiwanese iPhone maker Hon Hai’s venture to make 28-nanometer chips.

Why can the government refuse?

According to the report, in the year 2022, the Government of India had invited companies to make the country a semiconductor hub. The government had also announced an incentive of $10 billion for this. For this joint venture of Vedanta and Hon Hai had applied. The government found in the investigation that the companies of both have not met the fixed criteria, after which the government can refuse to give them an incentive of $ 10 billion.

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