Vedanta Chairman Anil Agarwal said that Foxconn and the company would build a new semiconductor plant in Gujarat for Rs 1.54 lakh billion. Agarwal said that “Made in India” chips might have a significant impact on the prices of final products when discussing the issue with CNBC-TV18.
Details about Vedanta Chairman said India-made chips will bring down the cost of laptops:
“A laptop currently costs Rs 1 lakh, but once glass and a semiconductor chip are accessible (in India), the price can be reduced to Rs 40,000 or less,” says the author.
Agarwal continued, “The glass that is currently created in Taiwan and Korea will very soon be manufactured in India as well.”
The average price of a laptop launched in India increased past Rs60,000 due to pressure from supply chain concerns brought on by a global chip shortage. A record 5.8 million PC shipments reached Indian markets for the first quarter of 2022, despite the high cost of electronics. With Gujarat hosting the nation’s first semiconductor production facility, Vedanta-Foxconn is now prepared to change the IT landscape in India completely.
He added that Vedanta will push the manufacturing cluster to Maharashtra with an eye on things like mobile phones, laptops, and possibly electric vehicles while also taking into account the nation’s entrepreneurial talents (EVs).
After confirmation that the company’s long-awaited partnership with Foxconn is one step closer to reality, Agarwal’s interview follows. There is not a single institution that does not wish to fund us, he remarked when speaking about the joint venture’s funding. With a 38 percent equity stake, Foxconn will profit financially. Never will a lack of money be an issue.
On September 12, in Gujarat Chief Minister Bhupendra Patel and Union Minister Ashwini Vaishnav, Vedanta and Foxconn inked a Memorandum of Understanding (MoU) with the Government of Gujarat for a new facility valued at Rs 1.54 lakh crore. Following the news release, Vedanta’s stock increased by almost 3.4%.
