Vedanta-Foxconn has chosen Gujarat as the destination for their semiconductor plant
Prime Minister Narendra Modi
New Delhi: Prime Minister Narendra Modi has lauded Vedanta Foxconn for choosing Gujarat as the destination for its semiconductor plant. PM Modi has said the MoU is an important step in accelerating India’s semiconductor manufacturing ambitions.
PM Modi said, “This MoU is an important step in accelerating India’s semiconductor manufacturing ambitions. The investment of Rs 1.54 lakh crore will create a significant impact to boost the economy and jobs. This will also create a huge ecosystem for ancillary industries and help our MSMEs.”
Meanwhile, Vedanta group chairman Anil Agarwal said, “History gets made! Happy to announce that the new Vedanta-Foxconn semiconductor plant will be set up in #Gujarat. Vedanta’s landmark investment of Rs 1.54 lakh crores will help make India’s #Atmanirbhar Silicon Valley a reality.”
This project, which is expected to reduce India’s electronic imports besides providing 1 lakh direct skilled jobs, will help the country’s manufacturing sector, he said in another tweet.
“My deep gratitude to the Gujarat Govt and the Union IT Minister, who have helped Vedanta tie things up so quickly. India’s tech ecosystem will thrive, with every state benefiting via the new electronics manufacturing hubs.”
India’s own Silicon Valley is a step closer now, the Vedanta Chairman tweeted.
With inputs from agencies
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