Schedule a Call Back
Vedanta in talks with Innolux for display fab in India
Industry News- Nov 14,23
A spokesperson from Vedanta's semiconductor and display business confirmed to PTI that discussions are underway for the establishment of a display fabrication facility.
The Vedanta Group is currently in talks with Innolux Corporation, a Taiwanese TFT LCD manufacturer, to discuss the potential establishment of a display fabrication plant in India. Recently, executives from both companies met with Rajeev Chandrasekhar, the Minister of State for Electronics and IT.
In a post on X, the minister shared, "Today, Mr. YJ Chen, CEO of Vedanta Displays Ltd; Mr. Sunil Duggal, Chairman of Strategy & Policy; Mr. James Yang, President; and Mr. Jyh Chau Wang, Director of Innolux, called on me at my office. We delved into discussions about India's vision and goals in domestic display manufacturing, aiming for self-reliance in electronics manufacturing."
A spokesperson from Vedanta's semiconductor and display business confirmed to PTI that discussions are underway for the establishment of a display fabrication facility. The spokesperson expressed Vedanta's commitment to supporting the government's vision of a self-reliant India and emphasised their efforts to enable self-sufficiency in high-tech electronics manufacturing through the establishment of a display fab.
Vedanta had previously announced plans to set up an electronic chip and display manufacturing facility in India. Additionally, the company had entered into a joint venture with Foxconn, a prominent Taiwanese electronics manufacturer, which revealed intentions to invest $19.5 billion in a semiconductor wafer fabrication plant.
Despite reporting a net loss of Rs 1,783 crore in the September quarter, a notable contrast to the Rs 1,808 crore profit posted a year ago, Vedanta shares have experienced a recovery, surging by over 14% from their 52-week low of Rs 207.85, reached on September 28, 2023.
Source: Business Today
Related Stories
Other Industrial Products
ARC Industry Forum Asia 2024 to focus on AI, cybersecurity and sustainability
The annual event will be held in three cities - at Tokyo (Japan) on 4 July 2024, Bengaluru (India) on 10-11 July 2024, and Singapore on 1 August 2024.
Read moreRailways
Wabtec Corp seeks $30 million exports with India operations
The company is expected to deliver all 1,000 locomotives by 2027-28.
Read moreRailways
Rail Europe envisions 25% growth from India operations
Rail Europe Executive Chairman & CEO Bjorn Bender talks about the India market.
Read moreRelated Products
Servo Drives, Fully Digital
ELECTRICAL & ELECTRONIC EQUIPMENT
Bristol
Industrial Electronics offers optimum quality, fully digital servo drives.
Fluorescent Pigments for Traffic Cone
ELECTRICAL & ELECTRONIC EQUIPMENT
Aron Universal Limited offers a wide range of fluorescent
pigments for traffic cone.
D C Choke
ELECTRICAL & ELECTRONIC EQUIPMENT
Miracle Electronic Devices Pvt Ltd offers a wide range of D C choke.
latest News
Subscribe to iNoW
For Industry News on WhatsApp, Give a Miss Call on: +91 84228 74016
