In order to build and maintain a $4 billion facility in western India, the recently hired chief executive officer of Vedanta Resources Ltd.’s unproven display sector is looking to acquire top personnel from around the world.
The display venture will soon start hiring people from South Korea, Taiwan, Japan, and other locations to set up a liquid crystal display panel fabrication unit in India, according to YJ Chen, a former employee of Chinese display manufacturer HKC. According to him, up to 3,500 direct jobs will be generated by the factory.
In an interview in Mumbai, India’s financial capital, Chen, who has 23 years of expertise in the display sector, said, “We need a lot of technicians, very talented people.” “People are the biggest challenge.”
Anil Agarwal, a wealthy businessman, is extending his metals and mining conglomerate into electronics components even though it is heavily indebted in order to benefit from India’s efforts to become a centre for technology manufacture. The display firm is independent of Vedanta’s faltering semiconductor division and may have an easier time succeeding because it requires less technical expertise.
Vedanta intends to produce glass and put together LCD panels at its new factory. For the display business, Vedanta has teamed with Foxconn Group affiliate Innolux Corp. If the factory receives essential funding from the government of Prime Minister Narendra Modi, Chen said, manufacturing might begin around the end of 2025.
To entice chip and display manufacturers to India, PM Modi has committed $10 billion (approximately Rs. 82,028 crore), stating that his administration will cover half the cost of establishing all semiconductor and display fabrication sites. While Vedanta’s aspirations for chips have not yet received official support, its display business may have an easier time receiving state incentives because it has established important tech alliances. AvanStrate, a company based in Japan that creates layers for LCD screens, is also owned by Vedanta.
The major display manufacturers in the world are gradually replacing LCD technology with crisper OLEDs. Samsung Display, the market leader in display technology, has stopped producing LCDs in favour of investing a huge amount of money in the development of next-generation displays. Its domestic rival, LG Display, is also reducing LCD production.
With its drive into displays, Vedanta hopes to capture a portion of India’s display market, which it projects will reach $30 billion annually over the following seven years. For long-term success, it will need to compete with low-cost Chinese LCDs and create newer screens.
We must establish our own supply network in India, according to Chen. To cut expenses and compete with the Chinese, we’ll concentrate on developing innovative designs.