Anil Agarwal’s focus on semiconductor business, Vedanta Group to invest $ 20 billion in chip manufacturing

At present, the annual demand for semiconductors in India is around $24 billion. It is expected to reach $100 billion by 2025.

$10 billion for display manufacturing.

Indian business conglomerate Vedanta has made a provision of $ 15 billion to enter the semiconductor business in the electronic chip and display manufacturing sector and the company plans to increase the investment to $ 20 billion. A senior official of the company gave this information. Avanstrate, a Vedanta Group firm that leads the semiconductor business, expects Indian manufacturing plants to start manufacturing electronic chips and displays by 2025. Akarsh Hebbar, Managing Director, Avastrat said, “Semiconductor is a long-term business. We expect that about US$ 10 billion will be spent for the display. At present, we need $7 billion for semiconductors, of which another $3 billion can be increased. We will invest up to USD 15 billion in the first 10 years. We will consider further investments at a later stage.

Vanstrat has applied to set up a semiconductor plant and display manufacturing unit. Vedanta has entered into an agreement with Foxconn to manufacture semiconductors in India, under which a joint venture company will be formed. Vedanta is the first company to announce investment in India after the government’s announcement regarding electronic chips and displays.

The government had launched the Semiconductor India program

The Modi government launched the Semiconductor India program in December 2021 with a funding of Rs 76000 crore. To fulfill the semiconductor mission, the Ministry of Electronics and Information Technology (MeitY) will also appoint top officials to various positions like CEO, CTO and CFO.

Chip demand worth $100 billion annually by 2025

At present, the annual demand for semiconductors in India is around $24 billion. It is expected to reach $100 billion by 2025. At present, India is completely dependent on imports for its semiconductor requirements. This is the reason why the Semiconductor Mission is very important for the government. After the announcement of the semiconductor scheme of 76 thousand crores, the government expects that tech companies like Intel, TSMC, Samsung will invest extensively in India.

read this also, There will be electronic trading of gold in the stock market like this, know all the rules before investing

read this also, LIC IPO may come on March 11, there may be a public offering of 60 thousand crores