Active Stocks
Thu Feb 29 2024 15:49:54
  1. Kotak Mahindra Bank share price
  2. 1,690.80 0.43%
  1. Axis Bank share price
  2. 1,075.70 0.10%
  1. Tata Steel share price
  2. 140.90 0.11%
  1. Power Grid Corporation Of India share price
  2. 282.55 1.07%
  1. ITC share price
  2. 406.50 -0.51%
Business News/ Companies / News/  'Nervous and excited': Vedanta's Anil Agarwal on 1.54 lakh cr investment in high-tech India
BackBack

'Nervous and excited': Vedanta's Anil Agarwal on ₹1.54 lakh cr investment in high-tech India

Vedanta's Anil Agarwal feels his investment to build first-ever semiconductor and display glass plant in Gujarat will take our Indians from job seekers to job creators.

Vedanta's Anil Agarwal will be investing ₹1.54 lakh crore India's country's first-ever semiconductor and display glass plantPremium
Vedanta's Anil Agarwal will be investing 1.54 lakh crore India's country's first-ever semiconductor and display glass plant

Branding India's first-ever semiconductor and display glass plant in Gujarat by his company, as India's moment, Vedanta Chairman Anil Agarwal shared his delight in a Linkedin post. He promises that his plant will help made semiconductors more affordable "And soon, you will be able to afford them at half the price!" Agarwal's claimed.

“This is India’s moment. We are the land of opportunity and I invite all youngsters to shoot for the stars…let’s go from being chip takers to chip makers."

Vedanta Group will be investing 1.54 lakh crore in ‘high-tech India’. Vedanta in a joint venture with Foxconn will set up India's first-ever semiconductor and display glass plant in Gujarat. A sleepy eyed Anil Agarwal, who spent a flight journey wide awake sees this as a dream come true. “We have been working on this project for the last 10 years, and are finally one step closer to India’s own Silicon Valley."

The project will include display and semiconductor facilities near the largest city of Ahmedabad in the western state. According to a Reuters report, while lobbying for incentives, Vedanta had sought 1,000 acres (405 hectares) of land free of cost on a 99-year lease, and water and power at concessionary and fixed prices for 20 years in April. 

In Agarwal's view, semiconductors are the new “oil" of our fast-moving digital economy. His post said, "a lot of you may already know what semiconductors are. I like to think of them as the brain of our electronics. They are present everywhere - in your TVs, laptops, automobiles, ACs, and your favourite smartphones."

By producing such tech in India, Agarwal believes “the company will open the door to millions of indirect jobs. Startups and entrepreneurs can use these chips as raw materials to produce their electronics - bringing down costs and making them affordable for every citizen of the country."

Agarwal says he wants nothing more than to see the country's youth, especially women, and their talent shine through the right resources and infrastructure, "This movement will soon take our Indians from job seekers to job creators," he stated.

 

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Corporate news and Updates on Live Mint. Check all the latest action on Budget 2024 here. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 14 Sep 2022, 03:28 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App