Foxconn and Vedanta jointly invest in displays and semiconductors in India

Vedanta and Foxconn have jointly applied for a 760 billion Indian rupee incentive plan for semiconductor and display factories and are planning to invest 1.6 trillion Indian rupees in the western Indian state of Maharashtra.

According to Hindu BusinessLine and Mint, Vedanta and Foxconn have met with government officials in Maharashtra and proposed to invest INR 1.6 trillion in the state, including INR 1 trillion display factories, INR 630 billion Rs 38 billion foundry and semiconductor assembly of INR 38 billion. and testing facility in Talegaon near Pune. The investment is expected to create more than 200,000 direct and indirect jobs in the state. However, Foxconn told CNA that the investment is still under discussion.

Maharashtra Chief Minister Eknath Shinde said they have planned 10,000 acres in Pune for high-tech electronics manufacturing, and Vedanta and Foxconn could play key investor roles in building the next Silicon Valley .

India announced the Semiconductor and Display Fab Incentive Scheme in December 2021 and disclosed the list of applicants in February, with ISMS expected to invest in IGSS in Karnataka and Tamil Nadu. In addition, Vedanta has applied for a display fab investment incentive and may set up a factory to produce 8.6G TFT LCD.