India likely to deny funding for Vedanta-Foxconn chip venture: Report

India likely to deny funding for Vedanta-Foxconn chip venture: Report

FILE PHOTO: A man walks past the logo of Vedanta outside its headquarters in Mumbai, India January 31, 2018. REUTERS/Danish Siddiqui//File Photo/File Photo

The Indian government is poised to deny crucial funding for Anil Agarwal’s chip venture, Bloomberg News reported on Tuesday, a setback to the billionaire’s ambition to build India’s ‘own Silicon Valley.’