Vedanta chief says company has lined up partners for semiconductor venture

Less than 72 hours after parting ways with Foxconn, Vedanta Chairman Anil Agarwal reiterated his commitment to semiconductor manufacturing in India. Addressing shareholders during the 58th General Annual meeting, Agarwal said that Vedanta will begin a historic foray into semiconductor fab and display fab this year, subject to government approvals.

“The world has its eyes on India as the next factory of the world. Our country stands to be financial beneficiary of the ‘China + 1’ strategy,” he said, adding that a huge opportunity lies in the electronics sector.