India’s Vedanta mulls tie-up with Japan tech firms to make chip plant in Gujarat

Vedanta had earlier formed a joint venture with Taiwanese electronics manufacturing giant Foxconn.

• Shubham
• 17 October, 2023

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By: Shubham Ghosh

INDIAN conglomerate group Vedanta Group on Tuesday (17) said it is looking into collaborations with Japanese technology firms as it continues with its plan to set up a semiconductor plant in the western Indian state of Gujarat.

Akarsh K Hebbar, Vedanta’s semiconductor and display business global managing director had said during the Vibrant Gujarat Global Summit roadshow in Japan that it is a $80-billion opportunity for companies interested to invest in th electronics manufacturing hub in the Indian state.

“He (Hebbar) outlined Vedanta’s ambitious plans to establish semiconductor and display fabs in Dholera SIR, Gujarat, and invited Japanese companies to partner with Vedanta in helping build the country’s first electronics manufacturing hub in the state,” a statement said.

Hebbar added that the hub could attract hundreds of small and medium-sized enterprises and create more than 100,000 employment opportunities.

“There is a $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,” the top Vedanta official said.

Vedanta group firm Avanstrate Inc, which is headquartered in Japan, last year signed agreements with 30 Japanese technology firms to foster the development of India’s semiconductor and glass-display manufacturing ecosystem.

Japan is one of the top five countries in the world to have a semiconductor ecosystem with around 100 semiconductor manufacturing plants.

Vedanta had earlier formed a joint venture with Taiwanese electronics manufacturing giant Foxconn which came up with plans to invest $19.5 billion in setting up a semiconductor wafer fabrication plant.

But the companies later announced that they would invest in setting up electronic chip plans in India separately but are yet to reveal names of their technology partner.

(With PTI inputs)