PM expresses optimism after Gujarat signs MoU with Vedanta-Foxconn Group for semiconductor mfg

• Investment of Rs 1.54 lakh crore will create a significant impact to boost economy and jobs

NE BUSINESS BUREAU

NEW DELHI, SEP 13

Prime Minister Narendra Modi has expressed optimism after Government of Gujarat signed an MoU of ₹ 1.54 lakh crore with Vedanta-Foxconn Group for the manufacture of semiconductor and display fab on Tuesday.

Vedanta signs Rs 1.54 lakh cr MoUs with Gujarat Govt to set up semiconductors & display fab units

The Prime Minister also pointed out that the investment will create a significant impact to boost economy and jobs while also help in creating a huge ecosystem for ancillary industries and thereby helping our MSMEs.

Sharing a tweet by Chief Minister of Gujarat, Shri Bhupendra Patel, the Prime Minister tweeted;

“This MoU is an important step accelerating India’s semi-conductor manufacturing ambitions. The investment of Rs 1.54 lakh crore will create a significant impact to boost economy and jobs. This will also create a huge ecosystem for ancillary industries and help our MSMEs.”