Vedanta Group is expecting a turnover of $3-3.5bn by 2026-27 in the first phase of its display and semiconductor manufacturing business. Of this, Vedanta expects $1bn to come from exports. This is Vedanta’s second foray into the semiconductor business where it has entered into a joint venture with Taiwanese major, Foxconn. Vedanta has earmarked investments of up to $20bn for its semiconductor business, and it plans to invest $15bn in the first 10 years. Akash Hebbar, the global MD of display and semiconductor business said that 20-30% of the production capacity is likely to be absorbed by Foxconn. Besides he noted that Vedanta was also in discussions with smartphone makers for business.
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