Subhechcha Ganguly 
Gujarat will become home to India’s first semiconductor production facility thanks to investments from mining conglomerate Vedanta and Taiwanese electronics manufacturing giant Foxconn totaling 1.54 lakh crore. After signing the memorandum of understanding (MoU) with the Gujarat government, Vedanta chairman Anil Agarwal told PTI that the plants, which will be built on a 1000-acre plot of land in Ahmedabad, will begin producing in two years. A display fab, a semiconductor assembling and testing unit, and a semiconductor fab unit will be established by the Vedanta-Foxconn 60:40 joint venture.
Automobiles, mobile phones, ATM cards, and other digital consumer goods all depend on semiconductor chips, also known as microchips. The market for semiconductors in India was valued at USD 27.2 billion in 2021, and it is anticipated that it will increase at a brisk CAGR of almost 19% to reach $64 billion in 2026. But up until now, none of these chips have been produced in India. Electronics and the automotive sectors were among those last year that were significantly impacted by a severe shortage in the semiconductor supply chain. After the international consortium ISMC and Singapore-based IGSS Ventures, which are establishing in Karnataka and Tamil Nadu respectively, Vedanta is the third company to announce the location of a chip plant in India.
Following the news’s release, Vedanta’s stock increased by roughly 3.4%. Semiconductors that are “Made in India” could significantly lower the cost of finished goods, according to Vedanta Chairman Anil Agarwal on Wednesday. According to him, a laptop that currently costs Rs 1 lakh could be sold for Rs 40,000 or less once glass and semiconductor chips are made available.The founder of one of India’s largest mining companies, Agarwal, predicted that soon, glass would also be manufactured in India in addition to Taiwan and Korea.
