Get All Access for $5/mo

Semiconductor Manufacturing: Vedanta Inks MoU with Japanese Firms The government of India, in December 2021, launched the India Semiconductor Mission with an incentive outlay of INR 76,000 crore to attract investments in the strategic semiconductor sector

By Shrabona Ghosh

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Pexels

Vedanta Group has signed a memorandum of understanding (MoU) with 30 Japanese technology companies for developing the semiconductor and glass display manufacturing ecosystem.

The MoU was signed at the Vedanta-Avanstrate Business Partners Summit 2022 held last week in Tokyo, Japan. "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," said Akarsh K Hebbar, global MD, display and semiconductor business, Vedanta, reported PTI.

Earlier this year, Vedanta and Foxconn announced MoUs with the government of Gujarat for setting up a semiconductor fab unit, a display fab unit, a semiconductor assembling and a testing unit in the state. Prime Minister Narendra Modi expressed optimism after the government of Gujarat signed an MoU of INR 1.54 lakh crore with Vedanta-Foxconn Group for the manufacture of semiconductor and display fab. "The Prime Minister also pointed out that the investment will create a significant impact to boost the economy and jobs while creating a huge ecosystem for ancillary industries and thereby helping MSMEs," said a statement by the PMO.

The government of India, in December 2021, had launched the India Semiconductor Mission with an incentive outlay of INR 76,000 crore to attract investments in the strategic semiconductor sector.

Shrabona Ghosh

Correspondent

A journalist with a cosmopolitan mindset. I lead a project called 'Corporate Innovations' wherein I cover corporates across verticals and try to tell stories on innovations. Apart from this, I write industry pieces on FMCGs, auto, aviation, 5G and defense. 
Business News

These Companies Offer the Best Work-Life Balance, According to Employees

The ranking is based on Glassdoor ratings and reviews.

Business News

Apple Is Adding ChatGPT to iPhones This Week. Here's How It Works.

ChatGPT will take over questions that Siri can't answer.

Growing a Business

Why Business Owners Should Streamline Their Operations Now for Success in 2025

As the holiday season and year-end approach, business owners face heightened operational demands, from inventory management to spend control. By streamlining these processes and partnering with flexible suppliers, businesses can maintain efficiency, meet customer needs and focus on growth while navigating this busy period.

Leadership

Why Your AI Strategy Will Fail Without the Right Talent in Place

Using fractional AI experts through specialized platforms allows companies to access top talent cost-effectively, drive innovation and scale agile strategies for growth.

Growing a Business

How to Spot Trends and Anticipate Market Shifts Before Your Competition

Discover how to identify disruptive trends before your competitors by mastering the art of anticipating market shifts. Learn strategies for staying ahead and gaining a competitive edge in business.