Vedanta In Talks With ‘World Class’ Tech Partner For Semiconductor

Vedanta, an Indian mining major company, is making significant strides in the semiconductor business. The company’s chairman, Anil Agarwal, announced that they are in talks with a “world class” technology partner for their semiconductor unit.

This development comes after a joint venture between Vedanta and Taiwan-based electronics manufacturing giant Foxconn was called off, and Vedanta has now taken full ownership of the project.

Agarwal made this announcement at the Semicon India 2023 event in Gujarat. He expressed full commitment to manufacturing semiconductors and display fabs in India. The company is in the process of finalizing the partnership with the technology partner.

The chairman praised India as a favorable investment destination, particularly Gujarat, which he believes can become the next Silicon Valley of India. He lauded the state government’s efforts to create infrastructure for the semiconductor industry.

Vedanta’s decision to venture into the semiconductor business is part of India’s ambition to become a semiconductor hub in Asia.

Minister of State for Electronics and Information Technology, Rajeev Chandrasekhar, highlighted India’s credibility and potential in the semiconductor global ecosystem.

The global semiconductor industry is expected to grow to $1 trillion in revenue by 2030. India is aiming to contribute significantly to this growth, and the government is actively implementing a comprehensive curriculum in partnership with the industry to create a skilled talent pool in the semiconductor field.

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Vedanta’s partnership with a technology provider for semiconductor production is indicative of India’s commitment to becoming a world leader in this field. The government is recruiting investment and developing a skilled workforce to help it reach its semiconductor industry goals.