India-made chips will reduce laptop price from Rs 1 lakh to 40K: Vedanta Chairman

Mumbai, September 15: In an exclusive interview to CNBC-TV18, Vedanta Group Chairman Anil Agarwal said India-made semiconductors and display glass will reduce the price of a laptop from Rs 1 lakh to 40,000.
 
A joint venture of Vedanta Group and Taiwan-based Foxconn have signed an agreement with the Gujarat government for setting up India’s first semiconductor and display glass plant near Ahmedabad spread over 1,000 acres with an investment of Rs 1.54 lakh crore. Around 1 lakh will get employment once plant becomes operational. Foxconn will hold 38% share in joint venture, he added.  
 
Currently, India is importing display glass for laptops and mobiles from Taiwan and South Korea while semiconductors are brought from Hong Kong, Singapore, Vietnam and Korea.
 
To a question, Anil clarified that an independent agency selected Gujarat for plant location. However, he mentioned that the Vedanta will set up a hub in Maharashtra for manufacturing mobile phones, laptops and electric vehicles.