Vedanta Group has signed Memoranda of Understanding with 30 Japanese technology companies to develop the Indian semiconductor and glass display manufacturing ecosystem. The signing was done at the Vedanta-Avanstrate Business Partners Summit 2022, held last week in Tokyo, Japan and was attended by more than 200 delegates from over 100 global companies.
The supplier conference also saw the unveiling of a “comprehensive manufacturing plan” (CMP) by Akarsh K. Hebbar, Global MD, Display and Semiconductor Business, Vedanta, along with Dr. Alan Tsai, CEO, Avanstrate Inc. and Pranav Komerwar, India Head, Electronics Business.
Sharing the Group’s vision and global plans for Indian display, semiconductor and Taiwan glass foray, Hebbar said, “We are committed to making India a hub for electronics manufacturing. Vedanta is focused on taking the lead in creating the electronics industry ecosystem rather than just technology transfers. We are excited as this comprehensive plan has the potential to generate business opportunities of over $40 billion for our partners in the coming years.”
Vedanta is setting up the semiconductor facility in Dholera, Gujarat. Vijay Nehra, IAS, Director Technology Mission, Gujarat, attending the Tokyo event noted, “Dholera shall be developed along the lines of global science parks and has all required infrastructure in place. With Vedanta as an anchor unit, the region will be developed for 1000+ MSMEs to create a sustainable economic environment for hi-tech SCM. World-class social infrastructure will be available for use in less than one year’s timeframe.”
Vedanta argues that its semiconductor facility will aid India in mitigating risks that arise from being heavily reliant on a few countries for the display fab supply chain. ”The PLI scheme for semiconductors, the EMC 2.0 scheme and many other such initiatives have been brought by the Government to establish an ecosystem of high-end tech manufacturing in India. The PLI scheme approvals by the centre are expected in a month,” Vedanta noted in the press release.
Earlier this year, Vedanta-Foxconn announced MoUs with the Government of Gujarat for setting up the semiconductor fab unit, a display fab unit, a semiconductor assembling and a testing unit in the state. The project envisages a total investment of $20 billion with an employment potential of over 100,000 people and aims to provide affordable electronics for Indians. “(It) is attracting global players across the value chain, entailing manufacturers of highly sophisticated and sensitive equipment, materials (high purity Gases, chemicals, wafers, photomasks), equipment service providers etc,” Vedanta added.