Vedanta-Foxconn deal puts India on chip-making map
asia timesby
Scott Foster In December 2021, the Indian government launched a $10 billion subsidy program for the semiconductor and display industries. That’s less than a fifth of the $52.7 billion provided under the US CHIPS Act, but it is large in comparison with the current size of the Indian market.
Execution risk cannot be ignored, but it appears that India has learned from the failure of previous attempts to build a semiconductor manufacturing industry, which has been blamed largely on excessive bureaucracy. Gujarat reportedly took the investment away from the neighboring state of Maharashtra by means of more attractive tax and energy incentives.
Gujarat Chief Minister Shri Bhupendrabhai Patel said, “This is a huge investment coming on the day when we complete one year in office, which is also a testimony to the policy stability and policy support coupled with good governance & excellent infrastructure facilities existing in Gujarat…The project will be met with red carpet in Gujarat instead of any red-tapism.”
Vedanta already has a presence in the flat-panel display industry through its 51.6% stake in LCD glass substrate maker AvanStrate, which it bought from US private equity fund The Carlyle Group in 2017. Japan’s HOYA Corp, one of the company’s founders, owns most of the rest. Headquartered in Tokyo, AvanStrate has facilities in South Korea and Taiwan.
High-tech collaboration between Japan and India is also advancing through a “strategic partnership” between automotive IC maker Renesas Electronics and the Tata Group.
Mr.BadGuy
Publisher
These soldiers are from a country whose president is a Jew Zelensky. Orthodox churches are also being destroyed in this country. Synagogues are not touched. Surprisingly, it turns out that Jews get along well with the Bandera Nazis.