Country for PR: United Kingdom
Contributor: PR Newswire Europe
Wednesday, December 14 2022 - 11:30
India's Vedanta Group inks understanding with 30 Japanese firms
TOKYO, Dec. 14, 2022 /PRNewswire-AsiaNet/ --

-  New global thrust to India's Semiconductor & Display Glass mission

    Vedanta Group has signed Memoranda of Understanding with 30 Japanese 
companies for development of India's semiconductor and glass display 
manufacturing ecosystem. These were signed at the Vedanta-Avanstrate Business 
Partners Summit 2022 held last week at Tokyo, Japan and attended by more than 
200 delegates from over 100 global companies.

    Earlier this year, Vedanta-Foxconn announced setting up semiconductor and 
glass fab units in India's Gujarat state. The project envisaging total 
investment of USD 20 Bn with employment potential of over 100,000 people aims 
to provide affordable electronics for Indians and is attracting global players 
across the value chain.

    The conference witnessed the unveiling of a comprehensive manufacturing 
plan by Mr. Akarsh K. Hebbar, Global MD, Display and Semiconductor Business, 
Vedanta along with Dr. Alan Tsai, CEO, Avanstrate Inc. and Mr. Pranav Komerwar, 
India Head, Electronics Business. Sharing the Group's vision, Mr. Hebbar said, 
"We are committed to making India a hub for electronics manufacturing. Vedanta 
is focussed on taking the lead in creating the electronics industry ecosystem. 
This comprehensive plan has potential to generate business opportunities of 
over $40 Bn for our partners in the coming years."

    The event had representatives from Indian Embassy at Japan and Gujarat 
Government led by Mr. Vijay Nehra, Director Technology Mission, Gujarat, who 
said, "Dholera region in Gujarat shall be developed along the lines of global 
science parks. With Vedanta acting as an anchor unit, the region will be 
developed for 1000+ MSMEs to create a sustainable economic environment for 
hi-tech SCM."

    Global markets rely heavily on the supply of semiconductors on a handful of 
countries. Aiming to mitigate supply risks and make India self-reliant, the 
Government of India has formulated the strategy to incentivize manufacturing of 
critical semiconductors and high-end tech manufacturing in India.

    Vedanta Group ("Vedanta") is a globally diversified natural resources and 
technology conglomerate.

    AvanStrate Inc., a Vedanta subsidiary and global technology company 
headquartered in Tokyo with operations in Korea and Taiwan; specializes in LCD 
glass substrates used in TVs, computers, mobile phone screens and other display 


    Source: Vedanta Group