Vedanta has set aside $15 billion for the electronic chip and display manufacturing sector and plans to scale up the investment to over $20 billion. Vedanta’s group firm Avanstrate will roll out electronic chips and displays from Indian manufacturing plants by 2025, the group’s semiconductor arm said on Friday.

“Semiconductor is a long-term business. We are looking at about $10 billion on display. Right now we are looking at $7 billion in semiconductors that can also increase by $3 billion to further extend it. First 10 years we will invest over $15 billion. We will consider further investment at a later stage,” Avanstrate Managing Director Akarsh Hebbar said in a statement.

• Top Indian stocks to benefit on FII boost from MSCI rejig
• Berger Paints India Q4 Earnings; Announced Rs 3.5 Dividend 
• Granules India Shares Fall 2% as Q4 Earnings Failed to Impress Investors  
• The MSCI (Morgan Stanley Capital International) India Index
• Mahindra and Mahindra Shares Hit 52-Week High Ahead of Q4 

Vedanta has signed a Memorandum of Understanding (MoU) with electronics manufacturing services giant Foxconn to form a joint venture company that will manufacture semiconductors in India. Vedanta is the first company to declare the investment in semiconductor manufacturing after the government announced a $10 billion program to boost the electronic chip and display ecosystem in the country.