---
title: "A Semiconductor Manufacturing Plant to be Set Up in Gujarat by Vedanta and Foxconn"  
description: "India’s oil-to-metals conglomerate Vedanta mentioned that the company and Foxconn the electronics manufacturing company would together set up a semico"  
author: "Siddhi Shaw"  
published: 2022-09-15  
canonical: https://www.mindstick.com/news/1992/a-semiconductor-manufacturing-plant-to-be-set-up-in-gujarat-by-vedanta-and-foxconn  
category: "technology"  
tags: ["manufacturing", "government"]  
reading_time: 3 minutes  

---

# A Semiconductor Manufacturing Plant to be Set Up in Gujarat by Vedanta and Foxconn

On **Tuesday**, **India’s** oil-to-metals conglomerate **Vedanta** has mentioned that the company and **Foxconn** the electronics manufacturing company would all together set up a [semiconductor](https://www.mindstick.com/news/876/more-semiconductors-in-india-soon) and display **FAB** manufacturing unit in **Gujarat**. Both the companies would be investing around **Rs 1,54,000 crore** for establishing the facility in the state.

```
HIGHLIGHTSVedanta and Foxconn would invest 1,54,000 crore to establish the facility in stateIn the presence of Ashwini Vaishnaw, the MoU was signed by both companiesVedanta had 1,000 acres of land which was free of cost on a 99-year lease
```

Vedanta and Foxconn on **Tuesday** have even signed a memo of understanding with the Gujarat government to put up the unit within the state. The **MoU** was signed when there was the presence of **Minister for Railways, Communications, Electronics & [Information Technology](https://www.mindstick.com/blog/301938/is-information-technology-all-about-coding), Ashwini Vaishnaw**, at a function which was held in **Gandhinagar**.

Both the companies had to invest **Rs 1,54,000 crore** to put up the facility in Gujarat, which might produce one lakh [job opportunities](https://yourviews.mindstick.com/audio/1120/job-opportunities-in-germany-after-ms), **Gujarat [Chief Minister](https://yourviews.mindstick.com/view/87407/bengal-chief-minister-mamata-banerjee-s-love-for-muslims-and-hate-for-hindus-why) Bhupendra Patel** has mentioned on the occasion. Patel has even mentioned that his government would offer cooperation to put up the facility and to make it a hit.

**[Prime Minister Narendra Modi](https://yourviews.mindstick.com/view/88529/prime-minister-narendra-modi-s-public-appeal-to-revive-work-from-home-wfh)** on Tuesday in Tweet has mentioned that “**This MoU has been [considered as](https://www.mindstick.com/forum/156093/what-is-considered-as-more-significant-creating-content-or-building-backlinks) a vital step accelerating India’s semi-conductor manufacturing ambitions. The investment of Rs 1.54 lakh crore would produce a big impact to boost up the economy and jobs. This would even create a large ecosystem for ancillary industries and facilitate our MSMEs**.'

**Mr. Agarwal** has mentioned that this project would be definitely help to fulfil Prime Minister Narendra Modi’s vision of making a robust manufacturing base in India. It would reduce the country’s electronics imports and would provide one lakh direct skilled jobs to individuals who were going from [job seekers](https://answers.mindstick.com/qa/107487/it-for-job-seekers) to job creators.

India’s semiconductor market has been estimated to succeed in **$63 billion** by **2026** from **$15 billion** in **2020**. Most of the world’s chip output has been restricted to few of the countries like Taiwan and late entrant India, which has been currently actively luring companies to “**usher in a very new era in electronics manufacturing**' because it would seek ways to get seamless access to chips. The company had decided in the month of **February** to diversify into chip manufacturing and form a [joint venture](https://www.mindstick.com/news/4046/equinix-partners-in-15-billion-joint-venture-to-expand-u-s-data-centers) with [Foxconn](https://www.mindstick.com/news/1859/foxconn-need-to-drop-stake-in-chinese-chipmaker-as-an-order-of-taiwan-security-officials).

As incentives, Vedanta had **1,000 acres** (405 hectares) of land which was free of cost on a **99-year** lease along with water and power at concessionary and fixed costs for **20 years**.

Also Read: [Apple's iPhone Factory Foxconn 'On Probation' Dealing With The Issue Of 'Food Poisoning'](https://www.mindstick.com/news/1161/apple-s-iphone-factory-foxconn-on-probation-dealing-with-the-issue-of-food-poisoning)

---

Original Source: https://www.mindstick.com/news/1992/a-semiconductor-manufacturing-plant-to-be-set-up-in-gujarat-by-vedanta-and-foxconn

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