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Vedanta Group on Tuesday said that it has signed pacts with 30 Japanese technology companies to develop an Indian semiconductor and glass display manufacturing ecosystem.
The pacts were signed at the Vedanta-Avanstrate Business Partners Summit 2022 held last week at Tokyo, Japan. The summit was attended by more than 200 delegates from over 100 global companies.
The company is committed to make India a hub for electronics manufacturing. It is focused on taking the lead in creating the electronics industry ecosystem rather than just technology transfers, Vedanta Global MD, display and semiconductor business, Akarsh K Hebbar said.
The summit saw interests from a host of companies eager to be part of the ecosystem for India’s semiconductor mission.
Vedanta Ltd, an arm of Vedanta Resources Ltd, is one of the world’s leading oil and gas and metals companies with operations in oil and gas, zinc, lead, silver, copper, iron ore, steel and aluminium, and power across India, South Africa and Namibia.
Oil-to-metals conglomerate Vedanta Ltd. along with Taiwan’s Foxconn in September signed a pact with the Gujarat government for investing ₹1.54 trillion to set up a semiconductor and display FAB manufacturing unit in the state.
Vedanta obtained financial and non-financial subsidies including on capital expenditure and cheap electricity from Gujarat to build the semiconductor plants, the first source with knowledge of the matter said.
On Tuesday, the company’s scrip was up by 1.34 per cent at ₹313 on BSE
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John Miller has been writing about science, gaming, and tech culture for over a decade. He’s a top-rated reviewer with extensive experience helping people find the best deals on tech and more.
