Evaluating Karnataka, Maharashtra, and Gujarat for semiconductor plant, says Vedanta’s Anil Agarwal.

Metals and mining baron and Chairman of Vedanta Group, Anil Agarwal says the consulting firm, BCG is helping them evaluate competing offers from Karnataka, Maharashtra and Gujarat for setting up a semiconductor manufacturing plant, jointly with their partner, Foxconn. He adds the group received ‘multiple’ expression of interests for the controversial Sterlite plant in Tamil Nadu, which it is seeking to divest. 

India imports about semiconductor and display glass worth $16 billion each. We are in this business; we also have been making optical fiber for the last 25 years, which is again, made of glass.

So, we have the glass technology and we also make display glass in Japan and Korea. We acquired a company three years back, which is only among the four in the world that produces display glass. We are one of them. So, they literally have monopoly and they supply to all, including India.

There is no better place than Bengaluru (to create a Silicon Valley) because it has culture and infrastructure. Other States are also very keen because this will open at least a thousand industries - small, and big.

For this, we have tied up with Foxconn and we are on the fast track. We want to do it in two years. So, we can have both the products which would reduce imports wort $30 billion. Also, it is my dream that we see a Silicon Valley in India.  Our Indian engineers and minds are there (in the US), so why can’t we do it here? We are looking at (competing offers from) Karnataka, Maharashtra, Gujarat. By the end of this month, we will be able to pin down which State we are going to. 

HBL