Latest News | Vedanta Explores Tie-up with Japanese Tech Firms as It Plans to Set Up Chip Plant

New Delhi, Oct 17 (PTI) Indian conglomerate Vedanta Group on Tuesday said it is exploring collaborations with Japanese technology companies as it continues with its plan to set up a semiconductor fab in Gujarat.

Vedanta's semiconductor and display business Global Managing Director Akarsh K Hebbar during Vibrant Gujarat Global Summit roadshow in Japan had said that it is a USD 80-billion opportunity for companies willing to come and invest in the electronics manufacturing hub in Gujarat.

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"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," the statement said.

Hebbar also pointed out that the hub has the potential to attract hundreds of SMEs and create more than one lakh jobs.

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"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," Hebbar said.

Vedanta group firm AvanStrate Inc is headquartered in Japan. Late last year, the company signed agreements with 30 Japanese technology companies to foster the development of India's semiconductor and glass display manufacturing ecosystem.

Japan is also the second Quad partner after the United States to sign an agreement with India for the joint development of the semiconductor ecosystem and maintain the resilience of its global supply chain.

With around 100 semiconductor manufacturing plants, Japan is among the top five countries to have a semiconductor ecosystem.

Earlier, Vedanta had formed a joint venture with Taiwanese electronics manufacturing giant Foxconn which announced plans to invest USD 19.5 billion in setting up a semiconductor wafer fabrication plant.

Both the firms have announced that they will invest in setting up electronic chip plants in India separately, but they are yet to announce the name of their technology partner.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)