Shantel
Key Takeaways:
- Vedanta Limited, a prominent natural resources and technology conglomerate in India, has announced the addition of semiconductors and display glass manufacturing ventures to its diversified portfolio.
- The acquisitions were made by acquiring two special purpose vehicles from Twin Star Private Limited, a company associated with Vedanta Ltd’s promoters.
- The global semiconductor market, valued at $574 billion, is projected to reach $1.4 trillion by 2030. Similarly, the global display market is expected to grow from $158 billion to $188 billion by 2028.
- Vedanta aims to capitalize on the opportunities presented by the semiconductor and display markets, as the world seeks to diversify critical supply chains away from China and Taiwan.
- The company believes India is well-positioned to become a semiconductor hub and one of the world’s leading manufacturers of display glass.
Vedanta’s Vision for Semiconductors and Display Glass:
David Reed, CEO of Vedanta’s Semiconductor Business, expressed his belief that India has the potential to become the next semiconductor hub for the world. He emphasized that India possesses all the necessary ingredients for success in the semiconductor industry.
Anil Agarwal, Chairman of Vedanta, highlighted the company’s commitment to make India self-reliant in electronics. He envisions the creation of a Silicon Valley in India, a cutting-edge and world-class electronics ecosystem that will contribute to the country’s technological advancement.
Y.J. Chen, CEO of Display Business at Vedanta, emphasized the significance of India becoming the fifth country globally to manufacture display glass. He expects the impact on consumers, particularly in terms of device affordability, to be substantial.
Anticipated Growth and Expansion:
Vedanta’s strategic move to enter the semiconductor and display glass sectors comes at a time when global demand for these technologies is on the rise. By expanding its portfolio in these areas, Vedanta aims to tap into the projected growth of the semiconductor market and contribute to India’s emergence as a manufacturing powerhouse.
The company had previously signed Memorandums of Understanding in September 2022 to establish semiconductor and display fabs in Gujarat, a state in western India. This step further solidifies Vedanta’s commitment to its foray into the technology sector.
About Vedanta Limited:
Vedanta Limited, a subsidiary of Vedanta Resources Limited, is a leading natural resources and technology company with operations spanning multiple countries. Its diverse portfolio encompasses industries such as Oil & Gas, Zinc, Lead, Silver, Copper, Iron Ore, Steel, Nickel, Aluminium, Power & Glass Substrate, and now, Semiconductors and Display Glass.
As part of its comprehensive framework for environmental, social, and governance (ESG) leadership, Vedanta has committed to achieving net-zero emissions by 2050 or earlier. The company has allocated $5 billion over the next decade to accelerate its transition towards this goal. Vedanta was ranked 6th globally in the S&P Global Corporate Sustainability Assessment 2022.
Looking Ahead:
Vedanta’s strategic acquisitions in the semiconductor and display glass sectors position the company to leverage the growing demand for these technologies. With its extensive operations and commitment to ESG leadership, Vedanta aims to contribute to India’s self-reliance in electronics and establish itself as a key player in the global technology landscape.
For more information about Vedanta Limited and its operations, please visit their website: www.vedantalimited.com.
