Vedanta Group has signed a Memorandum of Understanding (MoU) with 20 Korean companies in the display glass industry to develop an electronics manufacturing facility in India. Vedanta was invited to a roadshow at the recently concluded Korea Biz-Trade Show 2023 event in collaboration with KOTRA – a state-funded trade and investment promotion agency run by the Government of South Korea – in collaboration with the Ministry of Trade, Industry and Energy of Korea.
Akarsh K Hebber, Global MD, Semiconductor and Display Business, Vedanta, presented plans to set up a display fab in India. He invited potential partners and customers to join Vedanta to establish an electronics hub, which is supported by favorable government policy.
Hebbar said, “More than 50 companies have shown their interest in partnering with us and we are pleased to announce that we have signed MoUs with 20 Korean companies engaged in the electronics manufacturing value chain.
He said the hub has the potential to attract more than 150 companies and create more than 100,000 direct and indirect jobs. He said Vedanta’s greenfield display fab will be one of the anchors for the proposed hub, and offered assistance to any company wishing to explore India as an investment destination.