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Vedanta Chairman Anil Agarwal stated on September 13 confirmed the company’s new semiconductor plant with Foxconn will be set up in Gujarat, for Rs 1.54 lakh crore. Speaking to CNBC-TV18 about the development, Agarwal noted that ‘Made in India’ semiconductors could have a big impact on the prices of finished products.
“Today, a laptop costs Rs 1 lakh, and once the glass, as well as the semiconductor chip, is available (in India), the same can be priced at Rs 40,000 or less,” he told the channel on September 14.
“The glass currently being produced in Taiwan and Korea will very soon be manufactured in India too,” Agarwal added.
He further said that keeping the country’s entrepreneurial capabilities in mind, Vedanta will also push the manufacturing hub to Maharashtra — aiming for products such as mobile phones, laptops, and even Electric Vehicles (EVs).
Agarwal’s interview comes after the company’s long-awaited set-up with Foxconn was confirmed to be one step closer to fruition. He said of the joint venture (JV) funding: “There is not a single institution that does not want to fund us. Foxconn will own 38 percent of the equity and will thus bring in the money. Money will never be a constraint.”
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