Vedanta Resources Expands Tech Footprint with $4 Billion Display Factory in India

28 Jun 2023 , 11:00 AM

The newly appointed CEO of Vedanta Resources Ltd.’s display business, YJ Chen, aims to hire global talent to construct and operate a $4 billion factory in western India.

The display venture plans to recruit professionals from South Korea, Taiwan, Japan, and other regions to establish a liquid crystal display panel fabrication unit in India. The factory is expected to generate around 3,500 direct jobs, creating opportunities for skilled technicians and talented individuals in the display industry.

Vedanta, led by billionaire Anil Agarwal, is diversifying into electronics components to capitalize on India’s drive to become a technology manufacturing hub. The display business operates independently from Vedanta’s struggling chip venture and is anticipated to have a smoother path to success as it involves less technically demanding operations.

Vedanta has partnered with Innolux Corp., an affiliate of Foxconn Group, for its display business, with plans to manufacture glass and assemble LCD panels at the new factory. Chen mentioned that production at the facility could commence by the end of 2025 if the project receives crucial funding from Prime Minister Narendra Modi’s government.

Modi has pledged $10 billion to attract chip and display manufacturers to India, promising the government will cover half of the setup costs for semiconductor and display fabrication sites. While Vedanta’s chip plans are still awaiting government support, the display business may find it easier to secure state incentives due to its significant-tech partnerships.

Vedanta already owns AvanStrate, a Japan-based company specializing in producing layers used in LCD panels, further strengthening its position in the display industry.

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