Vedanta in talks with Taiwan's Innolux for display fab plant in India

The Vedanta Group is currently engaged in discussions with Innolux Corporation, a TFT LCD manufacturer based in Taiwan, regarding the establishment of a display fabrication plant in India. Executives from both companies recently met with Rajeev Chandrasekhar, the Minister of State for Electronics and IT.

"Mr. YJ Chen, CEO, #Vedanta Displays Ltd; Mr. Sunil Duggal- Strategy & Policy Chairman, Mr James Yang- President and Mr Jyh Chau Wang - Director Innolux called on me at my office today. We discussed about India's vision and goals in domestic display manufacturing, to achieve Atmanirbharta in electronics manufacturing," stated the minister in a post on X.

A spokesperson for Vedanta's semiconductor and display business confirmed to PTI that discussions are indeed ongoing for the establishment of the display fabrication facility. "At Vedanta, we are committed to supporting the government's vision of a self-reliant India and are working towards establishing a display fab to enable Atmanirbharta in hi-tech electronics manufacturing," the spokesperson said.

Vedanta had previously announced plans to establish an electronic chip and display manufacturing facility in India. Additionally, the company had formed a joint venture with Foxconn, a prominent Taiwanese electronics manufacturer, which disclosed intentions to invest $19.5 billion in the establishment of a semiconductor wafer fabrication plant.

Meanwhile, Vedanta shares have staged a recovery, surging by more than 14% from their 52-week low of Rs 207.85, a mark reached on September 28, 2023. This resurgence comes in spite of the mining giant reporting a net loss of Rs 1,783 crore in the September quarter, a significant contrast to the Rs 1,808 crore profit it posted a year ago.

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