Vedanta to manufacture semiconductors within 2 years

Vedanta has recently inked an MoU with Taiwan based Foxconn to establish a semiconductor manufacturing facility in India. “People are aware that India is emerging, silently. For me, it was very important that we work through technology, and semiconductor is very important, be it for automobiles or electronics. India needs to import $15 bn worth of semiconductors. It’s because of the shortage of semiconductor that we haven’t been able to run our factories at 100%. We are manufacturing glass and optical fibre. So, it was natural for us to move into semiconductors. Foxconn is one of the largest and the best companies in semiconductor manufacturing and will be our full-fledged partner. We are in the process of selecting a site,” said Anil Agarwal, Chairman, Vedanta Resources. He added, “In two years, we will start production. In India, when the government is supportive, people are supportive. I am confident that we will meet the target of commencing production in two years and India will change because of this.”