The Business Bytes
TBB BUREAU
NEW DELHI, APR 17, 2023
Anil Agarwal-led Vedanta Group on Monday said it has signed memoranda of understanding (MoUs) with 20 Korean firms from the display glass industry for development of an electronics manufacturing hub in India.
The MoUs were signed at the recently-concluded ‘Korea Biz-Trade Show 2023’ organised by KOTRA, the trade and investment promotion organisation operated by the South Korean government, in collaboration with Korea’s Ministry of Trade, Industry and Energy.
“More than 50 companies have shown their interest in partnering with us and we are pleased to announce that we have signed MoUs with 20 Korean companies engaged in the electronics manufacturing value chain,” said Akarsh K. Hebbar, Global Managing Director of Vedanta’s Semiconductor and Display business.
“We showcased the immense investment opportunities that our country has to offer, supported by conducive policies, good talent and a robust innovation ecosystem,” he added.
Hebbar invited prospective partners and customers to join Vedanta in setting up an electronics hub in India.
The proposed electronics ecosystem hub will have the potential to attract more than 150 companies and create more than 1 lakh direct and indirect employment.
