June 18, 2024

Vedanta Limited adds Semiconductors and Display Glass ventures to its portfolio

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Vedanta Limited, announced the addition of semiconductors and display glass manufacturing ventures to its diversified portfolio.

This represents a large growth opportunity for India where the semiconductor market stood at $ 24 bn in 2022 and is estimated to reach $ 80 bn by 2026. The display panel market is estimated to be worth $ 7 bn and is expected to grow to $ 15 bn by 2025. Currently, India imports 100% of these requirements. Vedanta Limited’s twin ventures will provide added momentum to the Government’s goal of Atmanirbharta in electronics.

David Reed, CEO of Vedanta’s Semiconductor Business, said, “I believe that India can become the next semiconductor hub for the world. It has all the ingredients for success.”

Vedanta Chairman, Anil Agarwal said, “Vedanta is committed to making India self-reliant in electronics. This is the beginning of the creation of a Silicon Valley in India, a cutting edge and world class electronics ecosystem. My dream is for every Indian youth to have an affordable smartphone, laptop and an electric vehicle.”

Akarsh Hebbar, Global MD, Vedanta’s Semiconductor and Display Business, said, “We believe that semiconductors and display fab are at the core of any electronics ecosystem. This will also spawn the creation of multiple ancillary industries and opportunities in both downstream and upstream, creating jobs and will be a GDP multiplier.”

Y.J. Chen, CEO of Display Business, said, “This is India’s time to become only the 5th country in the world to manufacture display glass. The impact on consumers in terms of affordability of devices will be huge.”

Source: Vedanta Limited Press Release

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