Vedanta: Vedanta will start manufacturing semiconductor by the end of this year, Anil Agarwal said- partner ready.
India’s multinational mining company Vedanta said it has lined up partners to make semiconductors. The manufacturing of the chip will start by the end of this year. The company’s chairman Anil Agarwal said this in the shareholders’ meeting on Wednesday. He said that there is immense potential in the Indian electronics sector.
In fact, this week Vedanta’s $19.5 billion deal with Foxconn to set up a chip manufacturing plant in Gujarat fell through. He said, India imports electronic goods worth $100 billion every year. Of this, 30 billion dollars is of semiconductor. We have lined up partners for joint ventures. However, government approval is yet to be received.
Rs 2.90 lakh crore investment
Vedanta said that it has so far invested Rs 2.9 lakh crore in India. In the times to come, the company will continue to invest in all sectors. The company has planned an investment of Rs 14,000 crore in the current financial year. The company has paid tax of Rs 3 lakh crore to the government in seven years. Out of this, 74,000 crore was given in the last financial year.
India-Japan discussed to increase cooperation in semiconductor manufacturing
Railway Minister Ashwini Vaishnav on Wednesday held a meeting with Atsuyoshi Koike, CEO and Chairman of Japanese company Rapidus Corporation and a team from Japan’s Ministry of Economy, Trade and Industry. Both sides discussed furthering cooperation between India and Japan in semiconductor design and manufacturing. Ashwini Vaishnav tweeted, met Atsuyoshi Koike, CEO of Rapidus Corporation and a team from the Ministry of Economy, Trade and Industry, Government of Japan. Discussions were held on taking India-Japan cooperation forward in design and manufacturing.
TCS profit up 17%, will pay Rs 9 dividend
Tata Consultancy Services (TCS) profit rose 16.83 per cent to Rs 11,074 crore in the first quarter of the current financial year. Along with this, the company has declared an interim dividend of Rs 9 per share. TCS said on Wednesday that its revenue in the first quarter increased by 12.55 percent year-on-year to Rs 59,381 crore. The company has net recruited a total of 523 employees during this period.
It will be mandatory to install AC in trucks from 2025
Air-conditioning system (AC)∈in truck-cabin will be mandatory from January 1, 2025, to provide relief to truck drivers working in harsh road conditions. The Union Ministry of Road Transport and Highways has issued a draft notification for this. The parties related to the notification have been asked to send suggestions and comments within 30 days. Union Highways and Transport Minister Nitin Gadkari had recently said that he has signed the file to make AC mandatory in trucks. As per the draft, AC system will be mandatory in category N2 and N3 motor vehicles. According to the Transport Department, vehicles carrying goods weighing from 3.5 tonnes to 12 tonnes come in the N2 category. Similarly, vehicles carrying goods weighing more than 12 tonnes come in the N3 category.
