Vedanta to create hub to manufacture iPhones, TV equipment in India: Report

NEW DELHI: Vedanta Ltd will look at creating a hub to manufacture Apple’s iPhones and TV equipment, along with possibly diving into the electric vehicle sector, Chairman Anil Agarwal said in an interview with CNBC TV18 on Wednesday.

Vedanta on Tuesday announced a $19.5 billion investment with Taiwan’s Foxconn to set up semiconductor and display production plants in Gujarat.

The company will create a hub in the western Indian state of Maharashtra to manufacture iPhones and other television equipment, Agarwal said in the interview, adding that this would be “kind of forward integration for the Gujarat JV plant”.