Indian companies are vigorously poaching Taiwanese panel and semiconductor talents, or they may be related to Hon Hai’s Indian plant

Panel and semiconductor are two pillar industries in Taiwan, China. According to a Taiwan media report today (1), the industry rumors that India’s Vedanta Resources Group (Vedanta Resources) is vigorously recruiting talents in Taiwan, China through headhunting companies, mainly focusing on the construction of panel companies and the operation of semiconductor companies.

It is reported that the Indian media Mint quoted local officials in January and reported that the Indian government may give priority to approving the construction of Hon Hai and Vedanta Group's local fabs. Therefore, it is speculated that Vedanta is recruiting aggressively, and may be the first to invest in the cooperative fab with Hon Hai.

In September 2022, Vedanta announced that it will join hands with Hon Hai Foxconn to set up a joint venture factory for semiconductors and liquid crystal displays in Gujarat, India. It plans to invest in a 28nm process and is expected to be completed within two years. The Indian government has also launched a 760 billion rupees program to reward the production of semiconductors and liquid crystal displays.

Vedanta is a company owned by Indian billionaire Anil Agarwal, who ranks No. 32 in IFOBE. He mainly deals in the development of resources such as metals and natural gas. In recent years, he has turned his attention to high-tech industry and acquired AvanStrate, a panel glass factory in Japan.

According to previous reports, India is actively attracting semiconductor factories and display manufacturing factories, and has launched a $10 billion plan to increase financial incentives for companies that go to India to set up factories. According to the Indian government statement, the government will bear 50% of the cost of all construction of semiconductor factories.

The latest policy incentives have been greater than the previous plan of 30% to 50%, while canceling the policy restrictions. The Indian government has previously agreed to bear 30% to 50% of the cost of building new display and chip factories, and on Wednesday the Indian government said it would also bear 50% of the capital expenditure required to build semiconductor packaging facilities.

At present, this investment project still needs to be approved by the Indian government, but it is expected that Vedanta has a high chance of being approved first, and Vedanta is not only actively looking for talents in Taiwan, but also working hard to find partners related to panels and semiconductors.