Telangana will be home to India's first display fab, valued Rs 24,000 crore.

13 Jun 2022 , 01:32 PM

Elest, a subsidiary of gold merchant Rajesh Exports, would invest Rs 24,000 crore in Telangana to build the country’s first display fab plant.

According to an official announcement issued here on Sunday, Telangana IT Minister K T Rama Rao and Chairman of Rajesh Exports Rajesh Mehta announced the establishment of the Generation 6 AMOLED Display FAB.

Telangana’s government has struck an agreement with Elest, a company located in Karnataka, to build next-generation screens for smartphones, tablet computers, and laptops.

Rama Rao wrote on Twitter: “Telangana has reached a watershed moment in its history. With an investment of Rs 24,000 crore, Rajesh Exports (Elest), a Fortune 500 firm, will establish India’s first Display FAB to produce the most modern AMOLED displays, making it one of the biggest investments in India’s high-tech manufacturing industry.”

According to the press announcement, Elest, which was founded by the entrepreneurs of Rajesh Exports, a worldwide Fortune 500 firm, will build the Display FAB in collaboration and with technical inputs from some of the world’s most sophisticated and finest research centers.

Rama Rao went on to say that establishing a display fab in Telangana will position India on a level with a select few nations such as China, the United States, and Japan on the world map.

“The Telangana government has been working on a mission mode to have a Fab in the state since the introduction of the India Semiconductor Mission, and this investment would give us extra impetus to continue our efforts,” he added.

According to him, the administration believes that establishing a display fab in the state will be a big boost to the state’s burgeoning electronics and IT ecosystem and its ancillaries.

The news of this investment positions Telangana as a front-runner in the semiconductor and display fab industry, according to the statement, and it is one of the country’s largest investments in the electronics sector, as well as the largest investment by size in Telangana state.

The display fab would be built as part of India’s Semiconductor Mission, which is run by the Ministry of Electronics and Information Technology.

Rajesh Exports Chairman Rajesh Mehta claimed the Telangana display fab will attract some of the best worldwide talents in next-generation technology and provide direct employment to over 3,000 people, including scientists and sophisticated technology specialists.

“It would generate thousands of employment by creating a far broader ecosystem of partners, ancillaries, and suppliers.” Elest is optimistic that the establishment of the Gen6 AMOLED Display production plant will pique worldwide attention and safeguard our country’s future technological prosperity, he added.

Elest will also establish a research and development center to conduct research on the next generation of advanced display technology, according to the press release.