Vedanta Chairman Anil Agarwal: The journey from being a chip taker to a chip maker has officially begun

Vedanta Ltd and electronics giant Foxconn will invest 1,54,000 crore to set up a semiconductor project in Gujarat. A Memorandum of Understanding (MoU) was signed in the presence of the Minister of Railways, Communications, Electronics & Information Technology, Ashwini Vaishnaw, at a function held in Gandhinagar.

Vedanta President Anil Agarwal tweeted, ‘History is made’. He also added that this will help make India’s Atmanirbhar Silicon Valley a reality.

“History is made! Excited to announce that the new Vedanta-Foxconn Semiconductor Factory will be established in #Gujarat. Vedanta’s landmark investment in 1.54 lakh crores will help make India’s Atmanirbhar Silicon Valley a reality,” Anil Agarwal tweeted.

Gujarat Minister Bhupendra Patel said that this facility will create a thousand job opportunities.

In a series of tweets, the Vedanta president talked about how India’s Silicon Valley is getting closer.

“This project will help fulfill Hon’ble PM Modi Ji’s vision of creating a strong manufacturing base in India. It will reduce our electronics imports and provide 1k skilled jobs directly to our people…from job seekers to job creators,” he said in another tweet. .

Agarwal also expressed gratitude to the Governor of Gujarat & Union IT Minister who helped Vedanta wrap things up quickly. “India’s #tech ecosystem will thrive, with every state benefiting through new electronics manufacturing hubs,” Agarwal tweeted.

“India’s own Silicon Valley is now one step closer. #India will fulfill the digital needs of not only her people, but also those from across the seas. The journey from a Chip Taker to a Chip Maker has officially begun… Jai Hind!,” he concluded.

On 5 September after meeting with Prime Minister Narendra Modi, the president of Vedanta talked about the possibility of creating a Silicon Valley in India in a series of tweets.

Foxconn is acting as a technical partner, while the oil-metal group Vedanta is funding the project as it looks to diversify into chip manufacturing.

Foxconn said in a statement that the state’s infrastructure and active government support “increase confidence in the establishment of a semiconductor factory”.

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