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

27 May 2022 CW Team

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

Real Estate

31 Oct 2025

Birla Estates Tops Global GRESB 2025 Rankings

Birla Estates (BEPL), a wholly owned subsidiary of Aditya Birla Real Estate (formerly Century Textiles and Industries Limited), has been recognised as a Sector Leader in the 2025 GRESB Real Estate Assessment, securing top honours across multiple global and regional categories.Birla Estates’ Achievements in GRESB 2025:Global Sector Leader – ResidentialGlobal Sector Leader – Non-Listed ResidentialRegional Sector Leader – Asia – ResidentialRegional Sector Leader – Non-Listed – Asia – ResidentialThese distinctions reaffirm Birla Estates’ exceptional performance in Environmental, ..

Progota India Secures RDSO Clearance for Kavach 4.0

Concord Control Systems, one of India’s leading manufacturers of embedded electronic and critical system solutions, announced that its associate company, Progota India, has received Technical Prototype Clearance from the Research Designs and Standards Organisation (RDSO) for Kavach 4.0, the latest version of Indian Railways’ indigenous Automatic Train Protection (ATP) system.With this clearance, Progota has been formally approved to execute its ongoing trial order from South Central Railway, marking a key milestone in India’s railway modernization journey. The approval also establishes P..

MPS Interactive Systems Completes Full Acquisition of Liberate Group

MPS Interactive Systems (MPSi), a material subsidiary of MPS, has completed the acquisition of the remaining shareholding in the Liberate Group of Companies—comprising Liberate Learning, App-eLearn, and Liberate eLearning.With this transaction, MPSi now holds 100 per cent ownership of all entities within the Liberate Group, making them its wholly owned subsidiaries. The acquisition was executed in line with the valuation methodology defined in the original transaction documents.Commenting on the development, Rahul Arora, Chairman and CEO of MPS, said, “The corporate learning sector continu..