Vedanta Chairman Says Their $5 Billion Made-in-India Chip Will Be Ready in 2.5 Years
Vedanta Group’s Chairman, Anil Agarwal, recently announced that the initial phase of their semiconductor project will involve a $5 billion investment from the total projected outlay of $20 billion. The ambitious venture aims to produce indigenous chips within two and a half years. Vedanta is currently in discussions with three potential technology partners for various aspects of the project, including chip manufacturing, foundry, packaging, and design.
Agarwal emphasized that Vedanta’s “made-in-India” chips will be ready within the specified timeline of 2.5 years. The first phase of investment, amounting to $5 billion, is being carefully structured. He pointed out that Vedanta possesses a strong cash flow and is in a favorable position to allocate capital to the semiconductor endeavor. However, the company is prioritizing the establishment of partnerships and a supportive ecosystem before finalizing its financial arrangements.
Following the disengagement from their previous semiconductor joint venture with Foxconn, Vedanta is committed to its mission of building India’s inaugural semiconductor and display fabs within the Dholera Special Investment Region in Gujarat. Substantial progress has been made in securing technology and equity partners for this undertaking. Both Vedanta and Foxconn have opted to separately apply for Indian incentives dedicated to chip-making, after their collaboration ceased. Foxconn is actively exploring suitable partners to maximize its engagement in India’s semiconductor and display fab program.
India is actively attracting semiconductor and display manufacturers through a $10 billion incentive initiative, demonstrating a determined effort to establish itself as a prominent global hub for chip production. Recognizing the pivotal role of advanced chips in diverse applications ranging from consumer electronics to high-tech industries, India aims to connect its local industry with the burgeoning worldwide chip market. This initiative gains additional significance in light of the ongoing global semiconductor shortage, underscoring the crucial role of chips in modern electronics.
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