Vedanta to tap into expanding semiconductor and display glass market

Vedanta Limited, a prominent natural resources and technology conglomerate in India, has declared its foray into the semiconductor and display glass manufacturing sectors.

This addition to Vedanta’s diverse portfolio could significantly boost India’s domestic market, which is expected to see the semiconductor market jump from $24 billion in 2022 to $80 billion by 2026. Similarly, the display panel market, worth an estimated $7 billion, is projected to double by 2025. As it stands, India fully relies on imports for these items.

The company’s ventures will strengthen the Government’s ‘Atmanirbharta’ initiative, promoting self-reliance in electronics. With the global semiconductor industry in an exhilarating phase, India is well-positioned to capitalize as international stakeholders seek to diversify their supply chains in semiconductors and display fabrication. Vedanta Limited’s Board approves these acquisitions, foreseeing potential benefits to the company, shareholders, and India’s economy from the shifting global dynamics.

Anil Agarwal — Vedanta Chairman said: “Vedanta is committed to making India self-reliant in electronics. This is the beginning of the creation of a Silicon Valley in India, a cutting edge and world class electronics ecosystem. My dream is for every Indian youth to have an affordable smartphone, laptop and an electric vehicle.”

Vedanta Limited aims to implement its expertise in large-scale manufacturing and operational excellence and collaborate with top global firms to drive these new businesses. The “Made in India” semiconductors and display glasses aim to offer affordable electronics, including smartphones, laptops, televisions, and electric vehicles, to all Indians.

The company already has a foothold in the LCD glass substrate business through its subsidiary Avanstrate Inc., a leading global manufacturer of LCD glass substrates. Vedanta thus holds a strong position to extend its glass business experience to its new venture in the Display ecosystem in Japan, Korea, and Taiwan.

In September 2022, the respective Special Purpose Vehicles (SPVs) inked a Memorandum of Understanding (MoU) with the Government of Gujarat, initiating plans to set up the semiconductor and display fabrication units in Dholera, Gujarat.