Vedanta is considering investment of worth $20 billion in India across all its business over the next four years, shared Chairman Anil Agarwal on May 1, on the sidelines of the company’s Nand Ghar, a social initiative under the philanthropic arm of the mining conglomerate. The investment comes as the company is banking on the upward swing in the prices of the commodity to prop up growth.
“Growth in India is tremendous.. it’s a double digit growth and there is a huge consumption activity. People are interested to invest in India and post the elections we would see recognition to entrepreneurships, which is very important,” said Agarwal while sharing the details regarding the investment.
Further ahead, he also flagged that the investment would be focused into the glass and semiconductors business, intensifying investments on the electronic side of the business. Upon being asked about the company’s plan for semiconductor, the chairman revealed that they have acquired a land in Gujarat and are now awaiting for the best partner.
As per the reports earlier this year, due to the absence of technology partner, the minister of state for electronics and information is not looking at Vedanta’s plans as serious. However, Agarwal stated that the firm is fully committed to the glass and semiconductor venture.
