Akarsh Hebbar Of Vedanta’s Semiconductor & Display Business Says More Players Needed

After 15 months of closing the first round of applications for the semiconductor scheme, the government is inviting new applications for setting up Semiconductor Fabs and Display Fabs in India. The scheme will reopen on June 1, 2023, under the Modified Semicon India Programme. Vedanta, which had teamed up with Foxconn for semiconductor fab had been waiting for the government’s approval. However, Akarsh Hebbar, Global Managing Director of Vedanta’s Semiconductor and Display business had told Business Today that Vedanta welcomes the move by the government. He says, “it is a bold and also very smart move by the government because now you're inviting the rest of the world to say that you allocate capital according to your business plan. You can take your time to understand the Indian ecosystem and bring about your technologies, study our market.” He adds, one fab or one unit alone cannot build an entire ecosystem. The ecosystem needs more than one conglomerate to build this so that we can have a viable opportunity here.