Vedanta to roll out first made-in-India chips within 2.5 years: group chairman Anil Agarwal

economictimes.indiatimes.com:

Vedanta Group is in talks with three different partners to set up a semiconductor foundry, a packaging and testing unit and a chip designing unit, the group's chairman Anil Agarwal said. Speaking to reporters on the sidelines of the Semicon 2023 event in Gandhinagar, Gujarat, Agarwal said that the company was looking to roll out the first made in India chips within the next two-and-a-half years.

«It is a question of few months. We will make the announcements soon.

We are going for a complete ecosystem set up,» Agarwal said. Of the $19 billion that it had pledged to invest, the company will for now invest $5 billion to set up the three planned units Agarwal said, adding that the rest of the investments would be done in tranches as and when needed.

Speaking earlier in the day at the inaugural session of Semicon 2023, Agarwal said that Gujarat would emerge as a semiconductor hub for India and that it was the “right place for creating the Silicon Valley of India”. Earlier this month, its JV partner Foxconn ended the partnership with Vedanta to explore new partnership opportunities.

Hon Hai Technology Group (Foxconn) and Anil Agarwal-led Vedanta had announced their joint venture to manufacture chips and display panels in India in February 2022, making it one of the first few participants in the government’s strategically crucial India Semiconductor Mission. The funding for the project will be done through a mix of debt and equity, Agarwal said, adding that the group had received ample interest from different companies on the project.