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India's first semiconductor facility will be set up by 'Vedanta-Foxconn JV' in Which State?
A)
Karnataka
B)
Gujarat
C)
Telangana
D)
Madhya Pradesh

Correct Answer :   Gujarat


The Joint Venture (JV) between India’s "Vedanta Limited" and Taiwanese electronics manufacturer "Foxconn" recently announced that it will set up its semiconductor and display manufacturing facility at the Dholera Special Investment Region near Ahmedabad, Gujarat.

* Vedanta and Foxconn, in September 2022, signed a memorandum of understanding (MoU) with the Gujarat government to invest Rs 1,54,000 crore, independent India’s biggest-ever corporate investment so far, to set up the country’s first semiconductor manufacturing facility.

* The MoU was signed in Gandhinagar in the presence of Ashwini Vaishnaw, Minister for Railways, Communications, Electronics & Information Technology.

* This upcoming facility will also help generate one lakh job opportunities in the state, said Gujarat Chief Minister Bhupendra Patel, promising his government’s cooperation.

* Earlier, Prime Minister Narendra Modi, while addressing an election rally in Bhavnagar in November, had suggested that the mega semiconductor plant will come up at Dholera Special Investment Region, around 100 km from Ahmedabad.

* The Vedanata-Foxconn’s semiconductor manufacturing facility is likely to get huge subsidies and incentives, like zero stamp duty on land purchase and subsidised water and electricity, under the ‘Gujarat Semiconductor Policy 2022-27.’..

Source : CNBC 

Published On : February 21, 2023
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