Vedanta Invites Japanese Firms to Invest in Electronics Manufacturing in India
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Vedanta Invites Japanese Firms to Invest in Electronics Manufacturing in India

New Delhi: Vedanta Limited, the Ani Agarwal-led conglomerate, has invited Japanese firms to form collaborations and invest in India’s “electronics manufacturing revolution”. This is in alliance with Gujarat’s move to foster close ties between Japan and India, the company said in a filing on Tuesday.

“The demand for electronics in India is fuelled by the Indian government’s initiatives such as Make in India, Digital India, and the 100 Smart Cities Mission, which aim to promote local manufacturing, digitalisation and technological advancement across various sectors,” Akarsh K Hebbar, global managing director of Vedanta’s semiconductor and display business, said at a gathering of Japanese industry leaders at the Embassy of India in Tokyo and Osaka during a two-day roadshow.

“Additionally, the growing penetration of the internet and increasing adoption of e-commerce have further boosted the demand for electronics. With a population of more than 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,” he added.

The natural-resources conglomerate has a longstanding relationship with Japan, with group company AvanStrate Inc. headquartered in that country. Late last year the company signed agreements with 30 Japanese technology firms to foster the development of India’s semiconductor and glass display manufacturing ecosystem.

Source : Mint