Vedanta Group and Foxconn To Fund in Semiconductors In Maharashtra

Vedanta and Foxconn met with CM Eknath Shinde and DCM Devendra Fadnavis to discuss their proposed ₹1.6 lakh crore investment in a semiconductor and display fab production plant in Maharashtra as part of the Aatma-Nirbhar Bharat program.

The company is now in intensive discussions with the Maharashtra government about their proposed semiconductor and display production facilities. 

Talegaon in Pune has emerged as a prominent investment destination for Vedanta and Foxconn due to its high concentration of trained labor, port access, seamless domestic supply chain, and highly established industrial infrastructure. Vedanta and its partner Foxconn have the potential to create over 200,000 direct and indirect job opportunities. 

The Vedanta delegation, led by Akarsh K Hebbar, Global MD of Vedanta's display and semiconductors business arm, Avanstrate, and joined by a Foxconn Chairman's office team, met with Maharashtra Chief Minister Eknath Shinde and Deputy Chief Minister Devendra Fadnavis to discuss the potential investment.

Expressing confidence, Shinde said, “Maharashtra has planned a 10,000 acre hi-tech electronics manufacturing ecosystem in Pune. For this, Vedanta, along with Foxconn can play a pivotal role as the anchor investor in creating the next Silicon Valley. It is a win-win scenario as Maharashtra has the required skilled manpower and industrial & logistical infrastructure suited for a project of this scale. This project will anchor a high-quality manufacturing ecosystem and act as a catalyst in Maharashtra’s growth story.”