Vedanta Foxconn MoU with Gujarat Government

The Gujarat Government signed a Rs.1.54 lakh crore Memorandum of Understanding (MoU) with the VedantaFoxconn Group. Hailed as a significant development for the manufacture of semiconductor and display fab in the country, it had other states like Maharashtra rue the loss of the investment of this magnitude hopeful of drawing in the Group. Expected to boost the economy and employment, it is expected to help create a huge ecosystem of ancillaries and in turn, help the Micro Small and Medium Enterprises (MSMEs). Chief Minister of Gujarat, Bhupendra Pal hailed it as a significant investment to further the Atmanirbhar Bharat vision of the government. It is by far the largest investment in the semiconductor segment for the country as a localisation boost.