Vedanta group chairman Anil Agarwal also added that this move will reduce the price of electronics products like laptop, mobile, TV, etc. As, major parts like chips and display are still imported from outside and on which company need to pay an huge amount of import duty this move will directly reduce that.
Although, Vedanta-Foxconn combine's upcoming ₹1.5-lakh crore semiconductor and display fabrication plant, a decision that set off a political storm in Maharashtra, which had also wooed the consortium.
Source
Anil Agarwal to ET reporter when asked about why choose Gujarat over Maharashtra :
It was a professional decision. Foxconn, a top management consultancy firm, an accountancy firm and an expert, created a team and they visited five or six states... each state opened their arms and offered everything we needed. I had no say at all in choosing Gujarat. But we had a time constraint and we had to move quickly. We didn't want to give another two months to them to keep evaluating. We said, "Put a fullstop. You recommend and whatever you decide, we will go ahead with." They recommended we go to Gujarat.
Agarwal added that the funds for the project would be raised through debt and that the company had no plans as of now to sell equity stake.
m.economictimes.com
Opinion : It was just a year ago when Vedanta holding company Twin Star Technologies was intrested for Videocon but, that deal is still pending. Seems this is the reason why Vedanta was running after it. The homegrown semiconductor and already popular TV brand will definitely make money. It seems path are not easy which it looks like Twin Star Technologies were only paying less than 5% of Videocon Ltd debt process of bid is on again now time will tell wether Videocon will revive or not.
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