Chairman Anil Agarwal said, ‘Vedanta has lined up partners for its semiconductor objective’

Anil Agarwal, Chairman of Vedanta Group, is committed to manufacturing semiconductors in India and has lined up partners. He encourages investment in the industry, claiming that India has enormous potential.

Anil Agarwal, Chairman of Vedanta Group, stated on Thursday that the business is 100% dedicated to creating semiconductors for which it has lined up partners. He describes India as a ‘country of opportunity’ with enormous potential.

Agarwal stated in a lengthy post, “We are 100% committed to producing semiconductors and display glass in India and have lined up partners for the same.”

“India is a land of opportunity with enormous potential.” Several enterprises are required to assist India in becoming a semiconductor and display glass hub. “We welcome Foxconn and the rest of the world to invest in this sector,” Agarwal said.

The Vedanta Group Chairman stated, “My vision is to fulfill the dreams of our young India aur issi chip mein chupi hai yuva bharat ke sapno ki chaabi.”

He also thanked the Government of India for taking proactive initiatives towards realizing the dream of atmanirbharta and electronics, which will assist the country in becoming a developed nation. 

“I am proud of my team for working so hard over the last year and a half to find the right location and bring in the best experts and companies to join us in developing the electronics ecosystem.” “My people are my true pillars of strength…,” he added on Twitter. 

“No one can prevent our country from creating another Silicon Valley.” This is a watershed moment for our country, and we will produce for India and the rest of the globe with haste and urgency,” Agarwal remarked. 

A day after terminating a $19.5 billion chipmaking joint venture with Vedanta, Taiwan’s Foxconn announced its intention to qualify for incentives under India’s semiconductor manufacturing plant. On Monday, Foxconn announced its withdrawal from the joint venture with Indian metals-to-oil company Vedanta.

The Taiwanese electronics conglomerate stated that it has been aggressively searching for optimal partners. The remark is significant in light of Foxconn’s withdrawal from the $19.5 billion semiconductor joint venture with Vedanta.

Foxconn believes the country will be able to effectively develop a viable semiconductor manufacturing ecosystem. “It will take some time.”