(ANI): To create a robust manufacturing base in India, Vedanta-Foxconn has chosen Gujarat as the destination for their semiconductor plant, Vedanta group chairman Anil Agarwal said.
A memorandum of understanding was signed with the state government for setting up the semiconductor plant costing around ₹1.54 lakh crore.
"History gets made! Happy to announce that the new Vedanta-Foxconn semiconductor plant will be set up in #Gujarat. Vedanta's landmark investment of ₹1.54 lakh crores will help make India's #Atmanirbhar Silicon Valley a reality," Agarwal said in a series of tweets.
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.
"India will fulfil the digital needs of not just her people, but also those from across the seas. The journey from being a Chip Taker to a Chip Maker has officially begun...Jai Hind!," he tweeted.