Vedanta, Foxconn to invest $19.5 bn in Gujarat for chip project

Vedanta Ltd and Foxconn will now going to invest 19.5 billion dollar on tuesday to set manufacturing unit in gujrat.

It is confirmed that this joint venture will get subsidies, including on capital and electricity expenses.

they are going to diversify units for semiconductor and display production in ahmedabad.

Gujrat CM declare that this will generate 100,000 jobs in India

this will give boom to gujrat economy and will raise people standard of living over there.

Foxconn will be technical partner while Vedanta will be financial partner in partnership

After this their joint venture want to move to other states to explore other fields.

Vedanta is third to declare chip plant in india after ISMC and Signapore company IGSS ventures.

they want to become leader of chip manufacture in India