Business News | Vedanta-Foxconn Chooses Gujarat to Set Up Semiconductor Plant Worth Rs 1.54 Lakh Cr
Get latest articles and stories on Business at LatestLY. To create a robust manufacturing base in India, Vedanta-Foxconn has chosen Gujarat as the destination for their semiconductor plant, Vedanta group chairman Anil Agarwal said.
New Delhi [India], September 13 (ANI): To create a robust manufacturing base in India, Vedanta-Foxconn has chosen Gujarat as the destination for their semiconductor plant, Vedanta group chairman Anil Agarwal said.
A memorandum of understanding was signed with the state government for setting up the semiconductor plant costing around Rs 1.54 lakh crore.
"History gets made! Happy to announce that the new Vedanta-Foxconn semiconductor plant will be set up in #Gujarat. Vedanta's landmark investment of Rs 1.54 lakh crores will help make India's #Atmanirbhar Silicon Valley a reality," Agarwal said in a series of tweets.
This project, which is expected to reduce India's electronic imports besides providing 1 lakh direct skilled jobs, will help the country's manufacturing sector, he said in another tweet.
Also Read | David Warner Likely to Meet Cricket Australia Chief Nick Hockley to Lift Lifetime Leadership Ban.
"My deep gratitude to the Gujarat Govt and the Union IT Minister, who have helped Vedanta tie things up so quickly. India's tech ecosystem will thrive, with every state benefiting via the new electronics manufacturing hubs."
India's own Silicon Valley is a step closer now, the Vedanta Chairman tweeted.
"India will fulfil the digital needs of not just her people, but also those from across the seas. The journey from being a Chip Taker to a Chip Maker has officially begun...Jai Hind!," he tweeted. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)