India has attracted USD 20.4 billion in investment proposals from companies eyeing the country as a hub for production of semiconductor fabs and display fabs.
In December, the Indian government made moves to position itself as a key player in the global production of technology and electronics with an invite to companies to apply for the Semicon India Programme.
Vedanta in a joint venture with Foxconn, IGSS ventures and ISMC applied for semiconductor fabs. Vedanta and Elest submitted applications to produce Gen 8.6 TFT LCD displays and AMOLED.
India’s display panel market is estimated to be USD 7 billion and is expected to grow to USD 15 billion by 2025.
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