- Wednesday, April 23, 2025
Akarsh Hebbar said the company has engaged with over 100 global suppliers and ancillary industries that will form a key part of the semiconductor and display ecosystem.
By: Shubham Ghosh
INDIAN company Vedanta is waiting for the government’s approval for incentives under a modified semiconductor production plan to begin constructing a semiconductor plant in the western state of Gujarat. The company has already identified technology and equity partners for the project, one of its top executives said on Tuesday (18), Reuters reported.
Akarsh Hebbar, global managing director at Vedanta Semiconductors and Display, said in a statement that the company has engaged with over 100 global suppliers and ancillary industries that will form a key part of the semiconductor and display ecosystem.
The group already has ties with Taiwan’s Innolux for manufacturing display fab, he added.
Last week, Vedanta Group chairman Anil Agarwal said the metals-to-oil conglomerate will enter the market for manufacturing of chips and displays in the current year, days after its joint-venture partner Foxconn recently pulled out of a chipmaking project worth $19.5 billion, triggering a controversy not only in the financial but also in the politics of neighbouring Maharashtra where opposition leaders were upset after the project had gone to Gujarat last year.
Following the withdrawal of the Taiwanese company, the Indian company said it had lined up partners for the venture but did not reveal details.
According to a report by Reuters, deadlock over finalising European chipmaker STMicroelectronics as a tech partner and delayed incentive approvals resulted in Foxconn’s pullout.
Additionally, Gujarat is also holding talks with Foxconn over a semiconductor plant. The Taiwanese company had revealed its intention to apply for incentives under India’s semiconductor production plan.
