Vedanta's Groundbreaking Move: Unveiling Semiconductor and Display Glass Ventures to Propel India's Self-Reliance Goals!

Vedanta Limited, India's leading natural resources and technology conglomerate, has announced the addition of Semiconductor and Display Glass ventures to its diversified portfolio. With a vision to drive the electronics ecosystem and promote self-sufficiency, Vedanta aims to create job opportunities and contribute to the country's GDP growth. By leveraging its manufacturing expertise and partnering with global industry leaders, Vedanta aims to strengthen India's position in the semiconductor and display markets.

Currently, India relies entirely on imports for Semiconductor and Display requirements. Vedanta's ventures will support the government's Atmanirbharta (self-reliance) initiative in electronics. With the semiconductor market estimated at $24 billion in 2022, projected to reach $80 billion by 2026, and the display panel market expected to grow from $7 billion to $15 billion by 2025, this represents a significant growth opportunity for India.

The acquisition of Twin Star Technologies Limited's Semiconductor and Display Special Purpose Vehicles (SPVs) will be carried out through a share transfer. Twin Star Technologies Limited is a subsidiary of Volcan Investments Limited, the holding company of Vedanta Limited. The SPVs have also signed a Memorandum of Understanding with the Government of Gujarat to establish semiconductor and display fabs in Dholera City.

Vedanta's board believes that India is well-positioned to capitalize on the global shift in critical supply chains for semiconductors and display fabs. By embracing these changing dynamics, India's economy can benefit immensely. The production of locally-made semiconductors and display glass will facilitate affordable electronics, such as smartphones, laptops, televisions, and electric vehicles, for all Indians.

David Reed, CEO of Vedanta's Semiconductor business, expressed confidence in India's potential to become the next semiconductor hub for the world, citing the favorable conditions and ingredients for success. With an existing presence in the LCD glass substrate business through subsidiary Avanstrate Inc., Vedanta is well-equipped to leverage its experience and expertise to make a strong impact in the display ecosystem.

As Vedanta expands its portfolio with these strategic ventures, it aims to drive India's journey towards self-sufficiency in the semiconductor and display industries, fostering economic growth and technological advancements.