India’s first semiconductor chip production plant in Gujarat

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Gujarat: Mining conglomerate Vedanta and Taiwanese electronics manufacturing giant Foxconn will invest ₹ 1.54 lakh crore to set up India’s first semiconductor production plant in Gujarat.

The ₹ 1.54 lakh crore investment by Vedanta and Foxconn will be used to set up India’s first semiconductor production plant, a display fab unit, and a semiconductor assembling and testing unit.

The plants will be set up on a 1000-acre land in Ahmedabad.

Foxconn is acting as the technical partner, while oil-to-metals conglomerate Vedanta is financing the project.

Vedanta and Foxconn will work closely with the state government to establish high-tech clusters with requisite infrastructure, including land, semiconductor-grade water, and power, the companies said in a joint statement.

Semiconductor chips, or microchips, are essential pieces of many digital consumer products – from cars to mobile phones and ATM cards. The Indian semiconductor market was valued at $27.2 billion in 2021 and is expected to grow at a healthy CAGR of nearly 19 per cent to reach $64 billion in 2026. But none of these chips is manufactured in India so far.

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