Vedanta signs MoU with 20 Korean companies for display glass business.

The Vedanta Group has signed memorandum of understanding with 20 Korean companies from the display glass industry for the development of an electronics manufacturing hub in India.

Vedanta was invited to the recently-concluded Korea Biz-Trade Show 2023 event, organised by KOTRA -- the state-funded trade and investment promotion organisation operated by the Government of South Korea - in collaboration with Korea’s Ministry of Trade, Industry and Energy.

Akarsh K Hebbar, Global Managing Director, Vedanta, made a presentation on the company’s plan to set up a semiconductor and display business in India and invited prospective partners to join Vedanta in establishing an electronics hub, supported by favourable government policies.

“Over 50 companies have shown interest in partnering with Vedanta and 20 Korean companies engaged in the electronics manufacturing value chain have signed MoUs,” he added.

“Along with the government, we showcased the immense investment opportunities that our country has to offer, supported by conducive policies, good talent and a robust innovation ecosystem,” said Hebbar.

The hub had the potential to attract over 150 companies and create upwards of 100,000 direct and indirect jobs. He said Vedanta’s greenfield display fab would be one of the anchors for this proposed hub, and offered help to any company willing to explore India as an investment destination.

HBL