Vedanta to Invest $20 Billion in Semiconductor Biz in India

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, a senior company official said. 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, the official of the group's semiconductor arm said on Friday.

"Semiconductor is a longterm business. We are looking at about $10 billion on display. Right now, we are looking at $7 billion in semiconductors, and that may also go up

by another $3 billion to further extend it. First 10 years, we have engaged to invest up to $15 billion. We will evaluate further investment at a later stage", Avanstrate's Managing Director, Akarsh Hebbar said.

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

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 $10 billion (Rs. 76,000 crore) program to boost electronic chip and display ecosystem in the country.