Semiconductor Manufacturing: Preparations are being made to invest 2 lakh crore in this state, semiconductor will be made, two lakh jobs will be created.
New Delhi: There is going to be a huge investment of more than Rs 2 lakh crore in Maharashtra. This will be one of the biggest investments in Maharashtra in recent times. Vedanta Group and Taiwanese electronics manufacturer Foxconn are planning to make this investment together. These two companies plan to form a joint venture and manufacture semiconductors in Maharashtra. This investment will help make Maharashtra the next Silicon Valley. PM Modi has also asked the industry to create an ecosystem for semiconductor manufacturing in India. The central government had approved the Semicon India program in December 2021 with a cost of Rs 76,000 crore.
The project will be set up in three phases
A delegation of Vedanta and Foxconn also met Maharashtra Chief Minister Eknath Shinde and Deputy Chief Minister Devendra Fadnavis on Tuesday. Maharashtra CM Shinde said, “Maharashtra government will extend full cooperation to Vedanta and Foxconn.” He said that the Center is extending support for the mega project. Fadnavis said that the state government and the joint venture will fix a time limit so that the work can be completed on time. According to a statement from the Chief Minister’s Office, the project will be set up in three phases.
Many states wanted this project here
Several other states including Tamil Nadu, Karnataka, Andhra Pradesh and Telangana wanted such a project in their own right. However, the joint venture between Vedanta and Foxconn was in talks with the Maharashtra government for the past few months.
2 lakh people will get employment
This joint venture will bring investment of Rs 2,06,800 crore. This will create 1.5 to 2 lakh direct and indirect jobs. It is said that with this the government will get goods and services tax revenue of Rs 1,25,230 crore. At the same time, about Rs 40,000 crore will come from other sources.
Project will start in Pune
The Anil Agarwal-led joint venture between Vedanta and Foxconn will invest Rs 1,00,000 crore in display fabrication. In addition, this joint venture will spend Rs 63,000 crore in semiconductors and Rs 3,800 crore in semiconductor assembly and testing facilities. This project will start in Talegaon, Pune.
