Anil Agarwal claims that the price of laptops will drop to Rs 40,000 from Rs 1 lakh thanks to Indian-made semiconductors
The Gujarat government and Vedanta and Foxconn have struck an agreement to establish a new Rs 1.54 lakh crore production facility there.
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On September 13, Vedanta Chairman Anil Agarwal said that Foxconn and the company would build a new semiconductor plant in Gujarat for Rs 1.54 lakh crore. Agarwal said that "Made in India" chips might have a significant impact on the prices of final products when discussing the issue with CNBC-TV18.
In September, he told the channel, "A laptop currently costs Rs 1 lakh, but once the glass and the semiconductor chip are accessible (in India), the same can be priced at Rs 40,000 or less."
Agarwal continued, "The glass that is currently created in Taiwan and Korea will very soon be manufactured in India as well."
He said that Vedanta will encourage the production centre to move to Maharashtra, with an eye toward products like mobile phones, laptops, and possibly electric vehicles. He said this while also considering the nation's entrepreneurial possibilities (EVs).
After confirmation that the company's long-awaited partnership with Foxconn is one step closer to reality, Agarwal's interview follows. There is not a single institution that does not wish to fund us, he remarked when speaking about the joint venture's funding. With a 38 percent equity stake, Foxconn will profit financially. Never will a lack of money be an issue.
On September 12, in the presence of Gujarat Chief Minister Bhupendra Patel and Union Minister Ashwini Vaishnav, Vedanta and Foxconn inked a Memorandum of Understanding (MoU) with the Government of Gujarat for a new facility valued at Rs 1.54 lakh crore. Following the news's release, Vedanta's stock increased by almost 3.4%.
Before final items from the Gujarat JV facility are released into the market, Agarwal anticipates a two-year wait.
