New Delhi, July 13 (IANS) Vedanta (NS: VDAN ) Chairman Anil Agarwal on Thursday said that he is 100 per cent committed to produce semiconductors and display glass in India and have lined up partners for the same.Agarwal reacted after Taiwanese chip-making giant Foxconn announced it had withdrawn from a joint venture to manufacture chips with India-based industrial giant Vedanta.
He said that India is a land of opportunities with huge potential.
“We need several ventures to help India become a semiconductor and display glass hub. We welcome Foxconn and the whole world to come and invest in this sector,” Agarwal said in a tweet.
He further said that they are thankful to the government for taking proactive steps towards realising the dream of atmanirbharta and electronics.
“This is what will help us become a developed country. My vision is to fulfil the dreams of our young India,” said Agarwal.
The government has already said that the decision of Foxconn to withdraw from its semiconductor JV with Vedanta has no impact on India's semiconductor goals.
Vedanta earlier said it will go ahead with the project.
"Vedanta reiterates that it is fully committed to its semiconductor fab project and we have lined up other partners to set up India’s first foundry. We will continue to grow our Semiconductor team, and we have the license for production-grade technology for 40 nm from a prominent Integrated Device Manufacturer (IDM),” said the company.
In his tweet, Agarwal said that he is proud of his team who has worked hard for the last one and a half years in closing on the right location, bringing in the best experts and companies “to join us in developing the electronics ecosystem”.
“Yeh India ka time hai. Nobody can stop our country from building another silicon valley. This is a turning point for our country where, with speed and urgency, we will produce for India and the world,” he noted.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.