Rajesh Exports sets up India’s first display factory with $3 billion investment

0
24

Rajesh Exports is also a candidate for Prime Minister Narendra Modi’s $10 billion incentive scheme to push companies to set up semiconductor and display operations in India.

Jeweler Rajesh Exports has agreed to invest $3 billion in the southern Indian state of Telangana to set up the country’s first electronic display factory, India’s government announced on Sunday. State.

India and many governments around the world have rushed to subsidize the construction of semiconductor and display factories as a shortage has hampered the automotive and electronics industries and highlighted the world’s dependence on a few sources, such as Taiwan, for vital supplies.

See also  Tesla to seek investor approval for 3-for-1 stock split: report

“What was previously only possible in Japan, Korea and Taiwan will now happen in Telangana”, the creation of a large-scale ecosystem of partners and auxiliaries supplying manufacturers of televisions, smartphones and world-class tablets, said Minister of Telangana Industries, KT Rama Rao. , announcing the investment.

Rajesh Exports is also a candidate for Prime Minister Narendra Modi’s $10 billion incentive plan to push companies to set up semiconductor and display operations in India, the government’s next big gamble on manufacturing. of electronic products.

See also  Skoda Octavia hits milestone in India's Lakh unit sales

Industry body ICEA estimates demand for displays in India will reach nearly $60 billion between 2021 and 2025.

Rajesh Exports, which has no previous experience in manufacturing electronics, is making the investment through Elest, a unit he formed to branch out into manufacturing products such as displays and electric vehicles.

The company has qualified for incentives under a $2.4 billion federal government program to manufacture batteries in India.

See also  Free Fishing, Off-Road, Michigan State Park Admission June 11-12

comments

(follow The Switzerland Times on Social Platforms.)

For the latest car news and reviews, follow TSWT.com on TwitterFacebook and subscribe to our YouTube channel.

.

LEAVE A REPLY

Please enter your comment!
Please enter your name here