Committed to investing in Maharashtra: Vedanta

September 15, 2022 09:50

"Vedanta is fully committed to investing in Maharashtra," chairman Anil Agarwal, tweeted on Wednesday, amid a political brouhaha over Gujarat pipping the state to bag a $20-billion investment.

"Our investments in semiconductor and display glass production will create an ecosystem of industries across the country. We, at Vedanta-Foxconn, have been assessing the sites and engaging in dialogue with state governments for the last two years, and hope to continue these conversations for the growth of our country in years to come," Agarwal added.

On Tuesday, Vedanta announced that the Vedanta-Foxconn semiconductor plant would be set up in Gujarat. It signed two memorandum of understanding (MoUs) with the Gujarat government to set up a semiconductor fab unit, a display fab unit, and a semiconductor assembling and testing unit entailing an investment of Rs 1.54 trillion and employment to around 100,000 people.

"We decided Gujarat few months ago as they met our expectations. But in July meeting with Maharashtra leadership, they made a huge effort to outbid other states with competitive offer. We have to start in one place & based on professional & independent advice we chose Gujarat.

"This multibillion dollar long-term investment will change the course of Indian electronics. We will create a pan-India ecosystem & are fully committed to investing in Maharashtra as well. Maharashtra will be our key to forward integration in our Gujarat JV," Agarwal tweeted.

« Back to LIVE

TOP STORIES

LIVE! 'As PM, I cannot let any Indian go without food'

'History Will Remember Him With Gratitude'

'During his stint as prime minister, he got 270 million people out of poverty.''This, according to the World Bank, is the fastest compression of poverty anywhere in the world.'Arvind Mayaram, the former finance secretary, recalls his...

When SC stayed summons for Manmohan in coal case

Former Indian Prime Minister Manmohan Singh was summoned as an accused in a coal block allocation case, but the Supreme Court intervened and stayed the directive. Singh, a renowned economist and politician, questioned the absence of...

Where Would India Be Without Dr Singh?

What stood out in his 15-year journey as a member of the political executive at the Centre was his glowing record as India's most successful and effective finance minister.Both as prime minister and finance minister, he understood the...

India's chances hinge on Pant-Jadeja on Day 3

Gavaskar said India need to put their "head down" and try and get as close as possible to Australia's total. R