Maharashtra beats 5 states to get Vedanta-Foxconn’s Rs 2.06 lakh crore investment in electronics

Mumbai: Maharashtra has beaten at least 5 states to win a stupendous Rs 2.06 lakh-crore investment by Vedanta Group-Foxconn partnership in the sunrise semiconductors chips and display fabrications sector in Pune, officials said here on Tuesday.

The deal, the single biggest investment of its kind in Maharashtra — coveted by Gujarat, Tamil Nadu, Karnataka, Telangana and Himachal Pradesh — was signed in the presence of Chief Minister Eknath Shinde and Deputy Chief Minister Devendra Fadnavis.

Earlier this year, Vedanta Group — a mining giant based in Mumbai — had partnered with the Hon Hai Precision Industry (Foxconn) with plans to invest $15 billion in phases over the next five-ten years to manufacture semiconductor chips and displays in India.