Vedanta to set up a $20 billion Semiconductor and display unit in India by mid-June

More From Author

See more articles

Myntra Upcoming Sales 2025: Your Fashion Calendar for Maximum...

Myntra Upcoming Sales 2025 In the ever-evolving world of fashion e-commerce, Myntra continues to be India's go-to destination...

Dimensity 6020 vs Snapdragon 695: Mid-Range Chipset Battle

Dimensity 6020 vs Snapdragon 695: Qualcomm Snapdragon 695 5G (SD695) is a fast mid-range ARM-based SoC found...

My Jio Recharge Plans as of January 4,...

My Jio Recharge Plans: Since its establishment in 2016, Reliance Jio has made a remarkable impact on...

Vedanta will choose a location in India for its $20 billion semiconductors and display plants by mid-June, and the first chip product will be available in two years, according to Chairman Anil Agarwal.

Vedanta, an oil-to-metals conglomerate, stated in February that it would diversify into chip production and form a joint venture with Foxconn of Taiwan to support Prime Minister Narendra Modi’s aim to make India a semiconductor manufacturing hub.

Vedanta intends to invest a total of $20 billion in two independent semiconductor and display production units. Vedanta is seeking incentives from Modi’s government and is in discussions with some Indian states about the placement of the operation.

“Foxconn is our technical partner. We may not take equity partner for the fab,” In a Davos interview, Agarwal told Reuters that the Apple contract manufacturer will be responsible for all aspects of the operation, from providing technology to manufacturing semiconductors.

The project’s first Phase will cost Vedanta nearly $2 billion told Agarwal

“You have to create another Taiwan in India,” Agarwal said, saying that for India to become a global powerhouse, it will need to focus on bringing the entire semiconductor ecosystem to the country.

He added that private equity firms want to be a part of India’s semiconductor boom and that there is no scarcity of capital, but that Vedanta had yet to hold negotiations with PE firms. India’s semiconductor market is expected to grow to $63 billion by 2026, up from $15 billion in 2020.

The Indian government has stated that it will boost incentives for those investing in semiconductor production beyond the first $10 billion plan, as it aspires to become a major role in the global chip supply chain.

also read:

Huawei unveils MateBook 16s, D16, 14 2022, and D14 2022 laptops along with MateView SE Monitor

Source

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

━ Related News

Featured

━ Latest News

Featured