According to chairman Anil Agarwal, Vedanta Group intends to invest $20 billion in India over the next four years, capitalising on the nation’s growth potential. According to him, the majority of the investments will go towards the glass, electronics, semiconductor, and technology sectors.
“Investments in glass, electronics, and technology are crucial for the development of numerous businesses and jobs. On the fringes of a Mumbai event, Agarwal stated, “We have factories in Taiwan and Korea for both semiconductors and glass, which are very essential from a future perspective in the screens of smartphones and laptops.”
While it is moving on with its glass business, Vedanta Group has acquired land in Gujarat for its semiconductor company. He stated, “We have to make glass in India now that we are already making it,” and the firm is open to collaborations. He claimed that in order to grow wealthy, certain industrialised countries had overused their natural resources. He regretted that there are worries about how mining is affecting the ecology in India. “We have the best gold and diamond here; we cannot rely on imports,” he continued.
Regarding the steel company sale, which was anticipated to close by March, Agarwal stated that obtaining the best price is crucial to any deal. He declared, “We are committed… if we get the right price to divest it.” If not, the group would decide to carry on managing the company independently. According to Agarwal, the closure of the copper smelter in Tamil Nadu accounted for only 0.3% of the company’s total revenue.
