1.54 Lakh Crore Investment for Manufacturing of Semiconductor

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PM expresses optimism after MoU of Rs. 1.54 lakh crore with Vedanta-Foxconn Group for the manufacture of semiconductor in Gujarat

The Prime Minister, Shri Narendra Modi on 13 September expressed optimism after Government of Gujarat signed an MoU of Rs. 1.54 lakh crore with Vedanta-Foxconn Group for the manufacture of semiconductor and display fab.

The Prime Minister also pointed out that the investment will create a significant impact to boost economy and jobs while also help in creating a huge ecosystem for ancillary industries and thereby helping our MSMEs. Sharing a tweet by Chief Minister of Gujarat, Shri Bhupendra Patel, the Prime Minister tweeted;

“This MoU is an important step accelerating India’s semi-conductor manufacturing ambitions. The investment of Rs 1.54 lakh crore will create a significant impact to boost economy and jobs. This will also create a huge ecosystem for ancillary industries and help our MSMEs.”