Vedanta to set up a semi conductors plant in India

Tags: Economics/Business

World largest electronic manufacturing company Foxconn will set up a joint venture with Vedanta group, to set up a semiconductor manufacturing plant in India . Foxconn is a Taiwanese company.

• Vedanta will hold the majority stake in the new company and Anil Aggarwal of Vedanta will be the chairman of the new company. 

• Vedanta  is the first company to announce an investment in the semiconductor space after the government of India announced a production linked incentive scheme for semiconductor and display board production in the country.

• The Government of India announced a production linked incentive scheme and committed Rs 76,000 crore for semiconductor production in the next 5-6 years. 

• The programme aims to incentivise companies/consortiums focused on Silicon Semiconductor Fabs, Display Fabs, Compound Semiconductors / Silicon Photonics / Sensors Fabs, Semiconductor Packaging, Semiconductor Design.

 For detail about semiconductor policy kindly click on the link below 

Vedanta Group  

• It is a multinational company headquartered in London, England.
• Vedanta Limited is an Indian subsidiary of Vedanta Resources, which is the holding company of Vedanta Group.
• It is in the business of Zinc-Lead-Silver, Iron ore, Steel, Copper, Aluminum, Power, Oil and Gas.
• The Chairman of Vedanta group: Anil Aggarwal