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

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.