The Eknath Shinde-led government of Maharashtra has been at the receiving end of criticism, particularly from those who were part of the previous MVA government, for losing a crucial Vedanta-Foxconn semiconductor project to Gujarat.
Indian conglomerate Vedanta and Taiwanese electronics giant Foxconn jointly inked a Memorandum of Understanding (MoU) with the Gujarat government on Tuesday in Gandhinagar to set up a mega semiconductor and display manufacturing unit in Gujarat, that the opposition in Maharashtra claims is a “morsel” snatched from state’s mouth.
The opposition in Maharashtra on Tuesday slammed the Eknath Shinde-led government for the state “losing” out on the Rs 1,54,000-crore venture with the Congress alleging something “sinister” behind the change of location and the NCP saying the plant was “snatched” away.
While Shiv Sena leader Aaditya Thackeray said the Maha Vikas Aghadi (MVA) government had “very strongly” pursued the project, the Nationalist Congress Party (NCP), the main opposition outfit, accused the BJP-led neighbouring state Gujarat of snatching morsel from Maharashtra’s mouth.
Read on to know what semiconductor chips are, their global shortage and the political blame game over the Vedanta-Foxconn deal.
ABOUT THE VEDANTA-FOXCONN’S SEMICONDUCTOR PROJECT DEAL WITH GUJARAT
Vedanta, an oil-to-metals conglomerate, and Taiwanese electronics manufacturing giant Foxconn will make one of the largest-ever investments of Rs 1.54 lakh crore in setting up India’s first semiconductor plant in Gujarat.
The 60:40 joint venture of Vedanta-Foxconn will set up a semiconductor fabrication plant, a display unit and a semiconductor assembling and testing facility on 1,000 acres of land in Ahmedabad district.
Out the total investment of Rs 1,54,000 crore, Rs 94,000 crore will go into setting up the display manufacturing unit while Rs 60,000 crore will be invested for the semiconductor manufacturing facility, the official said. As per the MoUs signed by both the parties, the Gujarat government will facilitate the investor in obtaining necessary permissions and clearances from the state departments concerned.