Vedanta Adds Semiconductors and Display Glass Ventures to its Portfolio
July 13, 2023 | PRNewswireEstimated reading time: 1 minute
Vedanta Limited, India's leading natural resources and technology conglomerate announced the addition of semiconductors and display glass manufacturing ventures to its diversified portfolio, by acquiring two special purpose vehicles at face value from Twin Star Private Limited, a company associated with the holding company of Vedanta Ltd's promoters.
The global semiconductor market of $574 bn is expected to reach $1.4tn by 2030 and the global display market is expected to grow from present $158 bn to $188 bn by 2028. India is in a sweet spot to capitalize as the world looks to diversify critical supply chains in semiconductors and display fab away from China and Taiwan.
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."
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."
Earlier, in Sep 2022, the two businesses had signed Memorandums of Understanding to set up the semiconductor and display fabs in the western Indian state of Gujarat.
Suggested Items
Coming to Terms With AI: SMT007 Magazine's May 2024 Topic
05/06/2024 | I-Connect007 Editorial TeamIn the May 2024 issue of SMT007 Magazine, we examine the profound effect artificial intelligence and machine learning are having on manufacturing and business processes. We follow technology, innovation, and money as automation becomes the new key indicator of growth in our industry.
I-Connect007 Editor’s Choice: Five Must-Reads for the Week
05/03/2024 | Nolan Johnson, I-Connect007This week’s most important news is strategic—and telling. When one puts together the IPC industry reports, we simply have to include the recent conversation with Shawn DuBravac and Tom Kastner. On the design side, check out the latest “On The Line With…” podcast featuring Brad Griffin from Cadence Design Systems, discussing SI and PI in the realm of intelligent system design.
IMI Welcomes New CEO
05/03/2024 | IMIIntegrated Micro-Electronics, Inc. (IMI),The IMI Board of Directors announced, in a disclosure dated April 25, 2024, the appointment of Louis Sylvester Hughes, Chief Executive Officer (CEO).
Electronics Industry Sentiment Rose in April, Hitting New High
05/02/2024 | IPCApril 2024 marked the third consecutive month of sentiment growth among electronics manufacturers. When asked if they expected labor costs for hourly workers to rise over the next month, manufacturers in the United States, Mexico, and Europe predicted a five percent increase, while manufacturers in Asia predicted a slightly lower four percent increase.
iNEMI Names Grace O'Malley CTO
05/02/2024 | iNEMIThe Board of Directors of the International Electronics Manufacturing Initiative (iNEMI) has named Grace O'Malley Chief Technical Officer (CTO).