NEW DELHI: Indian conglomerate Vedanta Group said on Tuesday it is exploring tie-ups with Japanese technology companies as it continues with its plan to create a semiconductor fantastic in Gujarat. Vedanta’s semiconductor and display company Global Managing Director Akarsh K Hebbar had said at the Vibrant Gujarat Global Summit roadshow in Japan that this is an $80 billion opportunity for companies willing to come and invest in the electronics production center in Gujarat.
“He (Hebbar) outlined Vedanta’s ambitious plans to set up semiconductor and display factories in Dholera SIR, Gujarat, and invited Japanese companies to partner Vedanta in helping build the country’s first electronics manufacturing center in the state” , the statement said.
Hebbar also pointed out that the hub has the potential to attract hundreds of small and medium-sized businesses and create more than one million jobs.
“There is an $80 billion opportunity for companies willing to come and invest in this electronics manufacturing hub, and Vedanta will be the anchor for Japanese companies interested in investing in India,” Hebbar said.
Vedanta group company AvanStrate Inc is headquartered in Japan. Late last year, the company signed agreements with 30 Japanese technology companies to promote the development of India’s semiconductor and glass display manufacturing ecosystem.
Japan is also the second Quad partner, after the United States, to sign an agreement with India to jointly develop the semiconductor ecosystem and maintain the resilience of the global supply chain.
With about 100 semiconductor factories, Japan is among the top five countries with a semiconductor ecosystem.
Earlier, Vedanta had formed a joint venture with Taiwanese electronics manufacturer Foxconn, which announced plans to invest $19.5 billion to set up a semiconductor wafer manufacturing plant.
Both companies have announced that they will separately invest in setting up electronic chip factories in India, but are yet to announce the name of their technology partner.
“He (Hebbar) outlined Vedanta’s ambitious plans to set up semiconductor and display factories in Dholera SIR, Gujarat, and invited Japanese companies to partner Vedanta in helping build the country’s first electronics manufacturing center in the state” , the statement said.
Hebbar also pointed out that the hub has the potential to attract hundreds of small and medium-sized businesses and create more than one million jobs.
“There is an $80 billion opportunity for companies willing to come and invest in this electronics manufacturing hub, and Vedanta will be the anchor for Japanese companies interested in investing in India,” Hebbar said.
Vedanta group company AvanStrate Inc is headquartered in Japan. Late last year, the company signed agreements with 30 Japanese technology companies to promote the development of India’s semiconductor and glass display manufacturing ecosystem.
Japan is also the second Quad partner, after the United States, to sign an agreement with India to jointly develop the semiconductor ecosystem and maintain the resilience of the global supply chain.
With about 100 semiconductor factories, Japan is among the top five countries with a semiconductor ecosystem.
Earlier, Vedanta had formed a joint venture with Taiwanese electronics manufacturer Foxconn, which announced plans to invest $19.5 billion to set up a semiconductor wafer manufacturing plant.
Both companies have announced that they will separately invest in setting up electronic chip factories in India, but are yet to announce the name of their technology partner.
