Vedanta invites Japanese companies to invest in electronics manufacturing in India – Gudstory

“Demand for electronics in India has been driven by the Government of India’s initiatives like Make in India, Digital India and 100 Smart Cities Mission, which aim to promote local manufacturing, digitalisation and technological advancement in various sectors,” said Aakash’s Hebbar. the global managing director of Vedanta’s semiconductor and displays business said at a gathering of Japanese industry leaders at the Indian Embassy in Tokyo and Osaka during a two-day road show.

“Additionally, increasing internet penetration and increasing trend of e-commerce have further increased the demand for electronics. With a population of over 1.4 billion, India presents a huge market opportunity for global electronics companies.”

Vedanta is in talks to develop a semiconductor chip manufacturing plant in Dholera, Gujarat. Hebbar invited Japanese leaders to partner with Vedanta and help build the country’s first electronics manufacturing hub in the state. He said the hub has the potential to attract hundreds of small and medium businesses and create more than one lakh jobs.

“There is an $80 billion opportunity for companies willing to come and invest in this electronics manufacturing hub. Vedanta will be the anchor for Japanese companies interested in investing in India.”

The natural-resources group has a long-term relationship with Japan, through group company AvanStrate Inc. Its headquarters is in the same country. Late last year the company signed agreements with 30 Japanese technology firms to boost the development of India’s semiconductor and glass display manufacturing ecosystem.

“Exciting news! Mint is now on WhatsApp channels Subscribe today by clicking the link and stay updated with the latest financial information!” Click here!

Updated: October 17, 2023, 03:46 PM IST