India entering semiconductor and display sectors... "In discussions with Samsung, LG, and others"
[Asia Economy Reporter Park Sun-mi] India, planning large-scale investments to enter semiconductor and display manufacturing, is reportedly holding related discussions with Korean companies such as Samsung and LG.
According to Japan's Nikkei Asia on the 1st, Vedanta Group, a mining company led by Indian billionaire Anil Agarwal, has set a $15 billion investment plan to manufacture semiconductors and displays in India and has begun discussions to establish joint ventures with companies from Japan, Taiwan, and Korea.
The joint venture for the display sector is reportedly being discussed with Korean companies Samsung and LG, Japanese Sharp, and Taiwanese Innolux. The newspaper also reported that discussions are underway with Taiwan's TSMC and Foxconn to establish joint ventures for semiconductor manufacturing.
Vedanta Group plans to execute most of the $15 billion investment within three years and aims to scale up to mass production levels within five years.
The Indian government has set a goal to make India a global electronics manufacturing hub capable of generating $400 billion in sales by 2025 and is focusing investments on creating a related industrial ecosystem. Ravi Shankar Prasad, former Minister of Electronics and Information Technology, stated that the goal is to manufacture 1 billion mobile phones, 50 million televisions, and 50 million hardware devices including laptops by 2025.
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To this end, in December last year, the government approved a program to invest $10 billion in developing the semiconductor and display manufacturing ecosystem. This program includes incentives for silicon semiconductor fabs, display fabs, compound semiconductors, semiconductor packaging, and design manufacturing companies. Vedanta Group plans to actively utilize the government's incentive policies in establishing joint ventures for semiconductor and display manufacturing.
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