Vedanta Ltd and Giant Electronic Foxconn Manufacturing will invest ₹ 1.54,000 crore to create a semiconductor project in Gujarat. Memorandum of understanding (MoU) signed before the Minister of Railroad, Communication, Electronics & Information Technology, Ashwini Vaishnaw, in a function held in Gandhinagar.

Chairman of Vedanta Anil Agarwal Tweeted, ‘History Got Made’. He also added that this would help make Atmanirbhar Silicon Valley India come true.

History is made! Be happy to announce that the new Vedanta-Foxconn semiconductor factory will be established in #Gujarat. Vedanta Tengara Investment of ₹ 1.54 Lakh Crores will help make the Indian Atmanirbhar Silicon Valley become a reality, “Anil solely tweeted.

Chairman of the Gujarat Minister Bhupendra Patel said that this facility would create a LAKH job opportunity.n a series of tweets, the head of Vedanta talked about how the Indian Silicon Valley itself was one step closer now.

This project will help fulfill the vision of Hon’ble PM Modi Ji to create a strong manufacturing base in India. This will reduce our electronic imports & provide 1 lakh skilled job directly to our people … Go from job seekers to job creators, “he said in another tweet.

So that Wal also thanked the Government of Gujarat & Minister of IT Union, who had helped Vedanta bind everything so quickly. “The #Tech Indian ecosystem will develop, with each state benefit through a new electronic manufacturing center,” Tweeted Stirwal.

This project will help fulfil Hon'ble PM @narendramodi Ji's vision of creating a robust manufacturing base in India. It will reduce our electronics imports & provide 1 lakh direct skilled jobs to our people…going from job seekers to job creators! (2/4)

— Anil Agarwal (@AnilAgarwal_Ved) September 13, 2022

India’s own Silicon Valley is a step closer now. #India will fulfil the digital needs of not just her people, but also those from across the seas. The journey from being a Chip Taker to a Chip Maker has officially begun…Jai Hind!,” he concluded.

https://twitter.com/AnilAgarwal_Ved/status/1569574006302584837?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1569574006302584837%7Ctwgr%5Eada108166042ca872bcdfab4e5aa87d5c0a508b8%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fwww.livemint.com%2Fnews%2Findia%2Fvedanta-chairman-anil-agarwal-the-journey-from-being-a-chip-taker-to-a-chip-maker-has-officially-begun-11663052486866.html

This MoU is an important step that accelerates the ambition of Indian semi-conductor manufacturing. Investment ₹ 1.54 Lakh Crore will create a significant impact to improve the economy and work. This will also create a large ecosystem for additional industries and help our MSMEs, “Tweet PM Modi.

This MoU is an important step accelerating India’s semi-conductor manufacturing ambitions. The investment of Rs 1.54 lakh crore will create a significant impact to boost economy and jobs. This will also create a huge ecosystem for ancillary industries and help our MSMEs. https://t.co/nrRbfKoetd

— Narendra Modi (@narendramodi) September 13, 2022

On September 5, after meeting Prime Minister Narendra Modi, the head of Vedanta talked about the possibility of creating another silicone valley in India in a series of tweets.

Foxconn acted as a technical partner, while Vedanta’s oil-to-log conglomerates financed the project because it seems to be diversifying the chip manufacturing.

Foxconn said in a statement that state infrastructure and government active support “Increasing self -confidence in establishing a semiconductor factory”.