+
Vedanta to finalise semiconductors, display unit site by mid-June
Products

Vedanta to finalise semiconductors, display unit site by mid-June

Vedanta Limited will finalise a location for its $20 billion semiconductors and display unit in India by mid-June and will have the first chip product ready in two years.

Oil-to-metals conglomerate Vedanta said in February that it would diversify into chip manufacturing and declared plans to form a joint venture (JV) with Taiwan's Foxconn to help Prime Minister Narendra Modi's movement to make India a semiconductor manufacturing hub.

Vedanta has a total planned investment outlay of $20 billion for two separate plants for chip and display manufacturing.

Foxconn is our technical partner. The company may not take equity partners for the fab, Vedanta Chairman Anil Agarwal told the media.

In Davos, the Apple contract manufacturer will have technical accountability for the operation, from providing the tech to creating semiconductors, Agarwal said.

Vedanta is striving for incentives from Modi's government and is also in discussions with several Indian states on the plant's location.

On the sidelines of the annual World Economic Forum the first phase of Vedanta's project will have an investment of $2 billion, Agarwal said.

Private equity wants to be part of India's semiconductor development, and there was no lack of funds.

India estimates its semiconductor market will achieve $63 billion by 2026, corresponding with $15 billion in 2020.

You have to make another Taiwan in India, Agarwal said, noting that India will have to concentrate on bringing the whole semiconductor ecosystem locally for it to be an international powerhouse.

The Indian government has said it will extend incentives beyond an initial $10-billion plan for those investing in semiconductor manufacturing, as it seeks to become a critical player in the global supply chain for chips.

Image Source

Also read: Vedanta Ltd in a race to become India's first chip maker

Vedanta Limited will finalise a location for its $20 billion semiconductors and display unit in India by mid-June and will have the first chip product ready in two years. Oil-to-metals conglomerate Vedanta said in February that it would diversify into chip manufacturing and declared plans to form a joint venture (JV) with Taiwan's Foxconn to help Prime Minister Narendra Modi's movement to make India a semiconductor manufacturing hub. Vedanta has a total planned investment outlay of $20 billion for two separate plants for chip and display manufacturing. Foxconn is our technical partner. The company may not take equity partners for the fab, Vedanta Chairman Anil Agarwal told the media. In Davos, the Apple contract manufacturer will have technical accountability for the operation, from providing the tech to creating semiconductors, Agarwal said. Vedanta is striving for incentives from Modi's government and is also in discussions with several Indian states on the plant's location. On the sidelines of the annual World Economic Forum the first phase of Vedanta's project will have an investment of $2 billion, Agarwal said. Private equity wants to be part of India's semiconductor development, and there was no lack of funds. India estimates its semiconductor market will achieve $63 billion by 2026, corresponding with $15 billion in 2020. You have to make another Taiwan in India, Agarwal said, noting that India will have to concentrate on bringing the whole semiconductor ecosystem locally for it to be an international powerhouse. The Indian government has said it will extend incentives beyond an initial $10-billion plan for those investing in semiconductor manufacturing, as it seeks to become a critical player in the global supply chain for chips. Image Source Also read: Vedanta Ltd in a race to become India's first chip maker

Next Story
Infrastructure Urban

India to Invest Rs 600 Billion to Upgrade 1,000 ITIs

As part of its drive to modernise vocational training, the Ministry of Skill Development and Entrepreneurship (MSDE), in collaboration with Gujarat’s Labour and Employment Department, held a State-Level Workshop at the NAMTECH Campus within IIT-Gandhinagar to discuss the National Scheme for ITI Upgradation.The consultation brought together key stakeholders from industry and the training ecosystem to align expectations and support implementation of the scheme, which aims to transform 1,000 Industrial Training Institutes (ITIs) across India using a hub-and-spoke model. The total outlay stands ..

Next Story
Infrastructure Urban

India Unveils Rs 600 Billion Maritime Finance Push

The Ministry of Ports, Shipping & Waterways (MoPSW) hosted the Maritime Financing Summit 2025 in New Delhi, bringing together over 250 stakeholders including policymakers, industry leaders, global investors, and financial institutions. The summit, held under the ambit of Maritime Amrit Kaal Vision (MAKV) 2047, focused on transforming India into a leading maritime power with strengthened financial, infrastructural, and technological capabilities.Union Minister Sarbananda Sonowal emphasised India's strategic progress, noting that average port turnaround times have dropped from four days to u..

Next Story
Infrastructure Urban

Govt Allocates Rs 500 Million To Boost Community Radio

The Central Government, through its ‘Supporting Community Radio Movement in India’ scheme, has allocated Rs 500 million to strengthen the community radio ecosystem across the country. The initiative aims to assist both newly established and long-operational Community Radio Stations (CRSs), ensuring their relevance to local educational, social, cultural, and developmental needs.According to the policy published by the Ministry of Information and Broadcasting, CRSs may be set up by not-for-profit organisations with at least three years of demonstrated community service. These stations are ex..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?