Vedanta Group firms have applied for setting up semiconductor and display manufacturing units in the country under the government’s incentive scheme
Vedanta Group, who has recently announced its partnership with Foxconn to jointly manufacture chips in India, has reportedly sent a team to Pune to survey the feasibility of setting up its electronic chip plant in the district.
“A team from Vedanta visited Pune on Thursday. They were just assessing the place and the ecosystem for their proposed semiconductor unit,” an official from the Maharashtra Industrial Development Corporation (MIDC) said. Vedanta is yet to comment on this matter.
Vedanta Group firms have applied for setting up semiconductor and display manufacturing units in the country under the government’s incentive scheme.
Vedanta has earmarked USD 15 billion for foray into the electronic chip and display manufacturing space, and plans to scale up the investment to as much as USD 20 billion (about INR 1.5 lakh crore).
The Vedanata Group, in December 2021, had committed Rs 60,000 crore in the sector. Akarsh Hebbar, managing director of AvanStrate, had noted that the company was in the last stages of negotiations with various state governments for setting up a factory which, as per Hebbar, would require between 250 acres and 400 acres.
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.
Pune has manufacturing plants of several automobile companies. Vedanta has plans to initially make 28 nanometer electronic chips that can be widely used in mobiles, power and automotive products.
