Vedanta to invest $20 bn in chip biz in India

New Delhi, February 18

Indian conglomerate Vedanta has earmarked $15 billion for foray into the electronic chip and display manufacturing space, and plans to scale up the investment up to $20 billion, said Group’s Global MD of Display and Semiconductor Business Akarsh Hebbar on Friday.

JV with Foxconn

• It has tied up with Foxconn to form a joint venture company that will manufacture semiconductors in India

It expects to roll out display units, for use in mobile phones and electronics devices, by 2024 and electronic chips from Indian manufacturing plants by 2025.

“Semiconductor is a long-term business. We are looking at about $10 billion on display. Right now we are looking at $7 billion in semiconductors that may also go up by another $3 billion to further extend it. First 10 year we have engaged to invest up to $15 billion,” Hebbar said. —