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

29 Apr 2022 CW Team

Vedanta Ltd is seeking 1,000 acres of free land from states and other incentives for its $20 billion foray into semiconductor and display manufacturing in a race to become India's first chip maker.

In February, the oil-to-metals conglomerate said it would diversify into chip manufacturing and declared plans to form a joint venture (JV) with Taiwan's Foxconn to support Prime Minister Narendra Modi's plans to create India a semiconductor manufacturing hub.

Under a Modi programme offering fiscal support, though Vedanta is seeking federal incentives, it is separately asking states for 1,000 acres of land free of cost on a lease for 99 years.

It requires 700 acres for its facility and the remainder for ancillaries.

Vedanta has told state governments that its operations would help them generate tax revenues of $2.2 billion over 20 years and create up to 100,000 direct and indirect jobs, said the first source.

The company is in the advanced stages of reviewing proposals from at least three Indian states, Telangana and Maharashtra in the west and Karnataka in the south.

More corporations and nation-states, including India, are examining ways to have seamless access to chips, which is at the core of many future critical technologies.

Most of the world's chip output is confined to a few countries like Taiwan and the United States (US). India is now actively attracting companies, saying it wants to usher in a new era in electronics manufacturing in December.

From $15 billion in 2020, the Indian semiconductor market is likely to reach $63 billion by 2026.

Generally, chip plants consume electricity and water in large quantities, and their erratic supplies often trouble the industry in India.

Image Source

Also read: Vedanta to sell 25% stake each in 3 Sterlite Technologies units

Infrastructure Transport

06 Feb 2026

Lucknow Metro East-West Corridor Consultancy Contract Awarded

The Uttar Pradesh Metro Rail Corporation has awarded the first construction-related consultancy contract for the Lucknow Metro East West Corridor to a joint venture of AYESA Ingenieria Arquitectura SAU and AYESA India Pvt Ltd. The firm was declared the lowest bidder for the Detailed Design Consultant contract for Lucknow Metro Line-2 under Phase 1B and the contract was recommended following the financial bid. The contract is valued at Rs 159.0 million (mn), covering design services for the corridor. Lucknow Metro Line-2 envisages the construction of an 11.165 kilometre corridor connecting Cha..

Div Com Kashmir Urges Fast Tracking Of Jhelum Water Transport Project

The Divisional Commissioner of Kashmir has called for the fast-tracking of the Jhelum water transport project, urging district administrations and relevant agencies to accelerate planning and clearances. In a meeting convened at the divisional headquarters, the commissioner instructed officials from irrigation, public health engineering and municipal departments to prioritise the project and coordinate survey and design work. The directive emphasised removal of administrative bottlenecks and close monitoring to ensure timely mobilisation of resources and contractors. Officials were told to in..

Interarch Reports Strong Q3 And Nine Month Results

Interarch Building Solutions Limited reported unaudited results for the third quarter and nine months ended 31 December 2025, recording strong revenue growth driven by execution and a robust order book. Net revenue for the third quarter rose by 43.7 per cent to Rs 5.225 billion (bn), compared with Rs 3.636 bn a year earlier, reflecting heightened demand in pre-engineered building projects. The company’s total order book as at 31 January 2026 stood at Rs 16.85 bn, supporting near-term visibility. EBITDA excluding other income for the quarter increased by 43.2 per cent to Rs 503 million (mn),..