Gandhinagar: After signing a Memorandum of Understanding (MoU) for setting up Rs. 1.54 lakh crore semiconductor & FAB plant with Gujarat government, Vedanta Group chairman Anil Agarwal said India’s own Silicon Valley is step closer now. He said the journey from being a Chip taker to a Chip Maker has officially begun.

In series of tweets, Anil Agarwal stated:

History gets made! Happy to announce that the new Vedanta-Foxconn semiconductor plant will be set up in Gujarat. Vedanta’s landmark investment of ₹1.54 lakh crores will help make India’s Atmanirbhar Silicon Valley a reality.

This project will help fulfill Hon’ble PM Narendra Modi Ji’s vision of creating a robust manufacturing base in India. It will reduce our electronics imports & provide 1 lakh direct skilled jobs to our people…going from job seekers to job creators!

My deep gratitude to the Gujarat Govt & the Union IT Minister, who have helped Vedanta tie things up so quickly. India’s tech ecosystem will thrive, with every state benefiting via the new electronics manufacturing hubs.

India’s own Silicon Valley is a step closer now. India will fulfill the digital needs of not just her people, but also those from across the seas. The journey from being a Chip Taker to a Chip Maker has officially begun…Jai Hind!

Earlier, speaking at the MoU signing function here, Agarwal had said it was an independent decision to set up the plant in Gujarat. He said this development will flourish (in other States) in a cluster manner. Agarwal said we need a University around the plant like that in Taiwan where all factories are located around the university. Agrawal said India will be the fourth country after China, Japan and Taiwan to have such a facility of making semiconductor and FAB. He said this has been his ten-year old team. He said he has not seen such excitement in his lifetime. Direct employment to one lakh will come immediately, he said adding that the costlier iPhone, cars, laptop, TVs affect our middle-class people. If basic things like semiconductors are manufactured in India it will immensely benefit the people here, he added.