Vedanta Exploring Collaboration with Japanese Tech Firms for Semiconductor Plants
Written by Sanjay Kumar
Continuing its progression towards establishing a semiconductor fabrication facility in Gujarat, the Vedanta Group announced on Tuesday (October 17) that it is actively considering collaborations with Japanese technology firms to further bolster its semiconductor and display business.
Akarsh K. Hebbar, the Global Managing Director of Vedanta’s semiconductor and display business, revealed during the Vibrant Gujarat Global Summit roadshow in Japan that this venture presents an enticing $80 billion opportunity for companies willing to invest in the burgeoning electronics manufacturing hub in Gujarat.
Hebbar emphasized, “There is a USD 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.”
During the summit, Hebbar elaborated on Vedanta’s ambitious plans to establish semiconductor and display fabrication facilities in Dholera SIR, Gujarat. He extended a warm invitation to Japanese companies, encouraging them to collaborate with Vedanta in realizing India’s first-ever electronics manufacturing hub within the state.
The proposed electronics manufacturing hub carries the potential to draw in numerous Small and Medium-sized Enterprises (SMEs) and generate over one lakh (100,000) jobs, significantly contributing to employment opportunities in the region.
It’s noteworthy that Vedanta group subsidiary, AvanStrate Inc, is headquartered in Japan, which underlines their existing presence and rapport in the Japanese technology sector.
In 2022, Vedanta made substantial strides in this direction by signing agreements with 30 leading Japanese technology companies, fostering the growth of India’s semiconductor and glass display manufacturing ecosystem. This move aligns with Japan’s well-established reputation as one of the top five countries with a robust semiconductor ecosystem, boasting approximately 100 semiconductor manufacturing plants.
Furthermore, Vedanta had previously entered into a joint venture with Taiwanese electronics manufacturing giant Foxconn, which had announced a substantial investment of $19.5 billion for establishing a semiconductor wafer fabrication plant.
As part of its ongoing corporate restructuring, Vedanta Ltd announced on October 12 that it has incorporated a wholly-owned subsidiary, ‘Vedanta Iron and Steel Ltd.’ This strategic move aligns with the company’s previously declared plan to demerge its business, and the subsidiary has an authorized capital of one lakh equity shares of ₹1 each.
This collaborative effort between Vedanta and Japanese tech firms not only signifies a remarkable development in India’s electronics manufacturing landscape but also showcases the potential for enhanced cooperation between the two nations in the high-tech sector.
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