Vedanta – Foxconn, Semi conductor plant in Gujrat

A joint venture of Vedanta and Foxconn signed a MoU with the Gujarat government to set up a semiconductor and display manufacturing unit in the state. Vedanta-Foxconn would invest Rs 1,54,000 crore to set up the facility in Gujarat, which would create one lakh job  opportunities. Out the total investment of Rs 1,54,000 crore, Rs 94,000 crore will go into setting up the display manufacturing unit while Rs 60,000 crore will be invested for the semiconductor manufacturing facility, the official said.

Eight percent of all the chips used in the world are manufactured in Taiwan, followed by China and Japan. This upcoming facility will mark the beginning of chip manufacturing in India. This is also strategically important for India because it will reduce our dependence on other countries.

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