Indian business house Vedanta has earmarked $15 billion for foray into the electronic chip and display manufacturing space, and plans scale up the investment to as much as $20 billion, PTI reported.
The above chart prepared by Semiconductor Industry Association (SIA) shows the growth of the global semiconductor industry. China is the world’s largest semiconductor market in the world.
Vedanta’s group firm Avanstrate, which will spearhead the semiconductor business, expects to roll out electronic chips and displays from Indian manufacturing plants by 2025.
“We are looking at an investment of about $10 billion on display. We are looking at $7 billion in semiconductors that may also go up by another $3 billion to extend it. First 10 years we have engaged to invest up to $15 billion. We will evaluate further investment at a later stage,” Avanstrate managing director Akarsh Hebbar said.
Avanstrate has applied for setting up a semiconductor plant and a display manufacturing unit.
Vedanta has signed a memorandum of understanding with electronics manufacturing services giant Foxconn to form a joint venture company that will manufacture semiconductors in India.
Vedanta is the first company to make the announcement to invest in semiconductor manufacturing after the government announced a USD 10 billion (Rs 76,000 crore) program to boost electronic chip and display ecosystem in the country.
