As per industry sources, Vedanta Group has earmarked $15 billion to foray into the electronic chip and display manufacturing space, and plans to scale up the investment to as much as $20 billion (Rs 1.5 trillion).

Vedanta Group has applied for setting up a semiconductor plant and a display manufacturing unit under the government’s incentive scheme for the sector.

The company is expected to roll out display units, for use in mobile phones and electronics devices, by 2024 and electronic chips from Indian manufacturing plants by 2025.

The company has also signed a memorandum of understanding (MoU) with Foxconn to form a joint venture (JV) company that will manufacture semiconductors in India.