Semiconductor Plant In India
Two company start a joint venture to set up a first semiconductor plant in India. Mining conglomerate Vedanta and Taiwanese electronics manufacturing giant Foxconn will set up a semiconductor unit, a display unit, and a semiconductor assembling and testing unit in Gujarat India. Vedanta – Foxconn agree on 60:40 joint venture to set up a first semiconductor plant in Gujarat India. Vedanta – Foxconn invest Rs 1.54 lakh crore to set up India first semiconductor plant. The semiconductor plant will set up on a 1000-acre land in Ahmedabad district Gujarat India. Vedanta and Foxconn sign memorandum of understanding (MOU) with Gujarat government to set up plant in the state. Vedanta chairman Anil Agarwal told “The first semiconductor plant will start production in two years”. Gujarat government ensures Vedanta and Foxconn for giving 1000-acre complete land. Gujarat government and Vedanta – Foxconn work closely to establish requisite infrastructure, including land, and power and for semiconductor plant. State government and companies said that the plant create 1 lakh direct job and 5 lakh indirect job. State government said this investment will boost make in India and Indian economy and also said that this is the largest investment in Gujarat. Vedanta chairman said that higher laptop cost as per now was 1 lakh can fall up to 40k in future and also phone and display unit electronic equipment can fall in future.
Why Vedanta and Foxconn choose Gujarat for semiconductor plant
Two main states are first chosen for companies Gujarat and Maharashtra. But companies picked Gujarat over Maharashtra for semiconductor plant. Companies start talk first with Maharashtra Government companies’ officials also meet with chief minister of Maharashtra government but Vedanta and Foxconn sign mod with Gujarat government for semiconductors plant. Gujarat attracts Vedanta and Foxconn o come and make plant in there state. Because Gujarat government gives capital subsidiary, power subsidiary 1 per unit, offer, taxes relaxation, incentives and many more. Gujarat government gives land to Vedanta and Foxconn of cost at a 99-year lease and water and power fixed price for 20 years. Also Gujarat government announce a policy for semiconductor plants policy name is Gujarat semiconductors policy 2022-27.
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Why Foxconn come India for manufacture semiconductor chips
for many years India dreams to start a manufacture semiconductor chips and election item but any companies was not interested to come India and start manufacture semiconductor chips and electronic item in India this type of plant create lakh of jobs directly and in directly at that time India need this type of companies come and start manufacture in India . Because Indian government promote make in India initiative, Atmanirbhar Bharat. And also, India wants to make in India phone manufacturer in India and make in India phone brands like one plus, xiaomi, oppo etc. that’s why is very important semiconductor manufacture in India. At now India import semiconductor to China, Taiwan, Japan and impots duty will be applicable to semiconductor chips this why semiconductors price is high in India. To resolve this problem Indian Government attracts companies to comes and manufacture semiconductor in India. Indian government gives incentives, and announce to gives 10billon packages who comes in India and start manufacture in India and also state and center gives subsidiarity in land, electricity, and various incentives gives this type companies which come and start manufacture semiconductor in India. This why Foxconn come in India start joint venture with Vedanta which is Indian Company to start a semiconductor plant in India.
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