INSUBCONTINENT EXCLUSIVE:
Vedanta will invest up to $20 billion in semiconductor business in IndiaNew Delhi: Indian conglomerate Vedanta has earmarked $15 billion to
foray into the electronic chip and display manufacturing space, and plans to scale up the investment to as much as $20 billion (about Rs 1.5
lakh crore), a senior company official said.It expects to roll out display units, for use in mobile phones and electronics devices, by 2024
and electronic chips from Indian manufacturing plants by 2025, Vedanta Group's global managing director of display and semiconductor
We are looking at about $10 billion on display
Right now we are looking at $7 billion in semiconductors that may also go up by another $3 billion to further extend it
First 10 year we have engaged to invest up to $15 billion
We will evaluate further investment at a later stage," Mr Hebbar said.He is also managing director of Avanstrate, which handles the display
manufacturing business of the Anil Agarwal-led Vedanta Group.Vedanta Group has applied for setting up a semiconductor plant and a display
manufacturing unit under the government's incentive scheme for the sector.Mr Hebbar said that the company expects to start commercial supply
of display units by 2024 and electronic chips in the 28 nanometre category by 2025."Display is less complicated than semiconductor fab
It would come out by the end of 2024
Mass production will begin within six to eight months of setting up of our factory within 2024
Semiconductor will be at the end of 2025 and may be spilling over to 2026."Our aim is to do display by the end of 2024 and semiconductors by
We will focus on local demand but 25-30 per cent may also go for export," he said.The official further said electronic components import in
manufacturing giant Foxconn to form a joint venture company that will manufacture semiconductors in India while Avanstrate will handle the
billion (Rs 76,000 crore) programme to boost electronic chip and display ecosystem in the country
