The Vedanta Group, chaired by Anil Agarwal, has announced its acquisition of a 100% stake in semiconductor and display units from Twin Star Technologies, a wholly-owned subsidiary of Vedanta. This move will establish Vedanta as the first integrated semiconductor and display fab business in India. The company expects to finalize the transaction in the current quarter and believes that the semiconductor and display glass market presents a tremendous growth opportunity for India. With this acquisition, Vedanta Limited is expanding its diversified portfolio into semiconductors and display glass manufacturing ventures.
Anil Agarwal, the Chairman of Vedanta, expressed his commitment to making India self-reliant in electronics and creating a world-class electronics ecosystem. He envisions providing affordable smartphones, laptops, and electric vehicles to every Indian youth. Vedanta believes that India’s semiconductor and display glass manufacturing sector holds substantial potential. The semiconductor market is projected to reach USD 80 billion by 2026, and the display panel market is expected to grow to USD 15 billion by 2025. Currently, India imports 100% of its requirements in these areas.
Vedanta’s semiconductor and display business global MD, Akarsh Hebbar, stated that semiconductors and display fab form the core of any electronics ecosystem. This acquisition will also lead to the creation of multiple ancillary industries and job opportunities, thereby contributing to the country’s GDP growth.
The company aims to enable the production of made-in-India semiconductors and display glass, which will facilitate affordable electronics for Indian consumers. Vedanta had previously announced plans to establish a plant with an estimated investment of Rs 1.5 lakh crore, generating revenue by 2027.
Vedanta’s Semiconductor Business CEO, David Reed, believes that India possesses all the necessary ingredients to become the next semiconductor hub globally. The addition of display glass manufacturing capabilities will make India the fifth country worldwide to manufacture display glass, resulting in increased affordability of devices.
Vedanta already has a presence in the LCD glass substrate business through its subsidiary, Avanstrate Inc. With this new acquisition, the company further strengthens its position in the semiconductor and display industry.
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