Press "Enter" to skip to content

Vedanta Chairman Anil Agarwal: ‘The journey from being a chip taker to a chip maker has officially begun’ | Mint – Mint

Vedanta Ltd and and electronics manufacturing giant Foxconn will invest 1,54,000 crore to set up a semiconductor project in Gujarat. The Memorandum of Understanding (MoU) was signed in the presence of Minister for Railways, Communications, Electronics & Information Technology, Ashwini Vaishnaw, at a function held in Gandhinagar.

Vedanta Chairman Anil Agarwal tweeted, ‘History gets made’. He also added that this will help make India’s Atmanirbhar Silicon Valley a reality.

“History gets made! Happy to announce that the new Vedanta-Foxconn semiconductor plant will be set up in #Gujarat. Vedanta’s landmark investment of 1.54 lakh crores will help make India’s Atmanirbhar Silicon Valley a reality,” Anil Agarwal tweeted.

Gujarat Chief Minister Bhupendra Patel said that this facility would create one lakh job opportunities.

In a series of tweets, the Vedanta chairman spoke about how India’s own Silicon Valley is a step closer now.

“This project will help fulfil Hon’ble PM Modi Ji’s vision of creating a robust manufacturing base in India. It will reduce our electronics imports & provide 1 lakh direct skilled jobs to our people…going from job seekers to job creators,” he said in another tweet.

Agarwal also expressed his gratitude to the Gujarat Govt & the Union IT Minister, who have helped Vedanta tie things up so quickly. “India’s #tech ecosystem will thrive, with every state benefiting via the new electronics manufacturing hubs,” tweeted Agarwal.

“India’s own Silicon Valley is a step closer now. #India will fulfil the digital needs of not just her people, but also those from across the seas. The journey from being a Chip Taker to a Chip Maker has officially begun…Jai Hind!,” he concluded.


“This MoU is an important step accelerating India’s semi-conductor manufacturing ambitions. The investment of 1.54 lakh crore will create a significant impact to boost economy and jobs. This will also create a huge ecosystem for ancillary industries and help our MSMEs,” tweeted PM Modi.

On 5 September after meeting Prime Minister Narendra Modi, the Vedanta chairman spoke about the possibility of creating another Silicon Valley in India in a series of tweets.

Foxconn is acting as the technical partner, while oil-to-metals conglomerate Vedanta is financing the project as it looks to diversify into chip manufacturing.

Foxconn said in a statement that the state’s infrastructure and the government’s active support “increases confidence in setting up a semiconductor factory”.


Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint.
Download The Mint News App to get Daily Market Updates.


Subscribe to Mint Newsletters

* Enter a valid email

* Thank you for subscribing to our newsletter.