Come, Invest in India Urges Vedanta’s Akarsh Hebbar at Boom Up Korea 2023

Vedanta invited by KOTRA to showcase investment opportunities

Roadshow supported by Indian government officials

Seoul, Korea & Mumbai, India, April 12, 2023: KOTRA, the state-funded trade and investment promotion organization operated by the Government of South Korea, invited Vedanta to discuss investment opportunities in India with the Korean industry at the ongoing Boom Up Korea 2023 event.

Akarsh K. Hebbar, Global Managing Director of Vedanta’s Semiconductor and Display business addressed a gathering of business leaders from around 50 companies representing Korea’s electronics industry. At a specially curated roadshow, he spoke about Vedanta’s planned display fab in Gujarat, India, and the huge investment opportunity for Korean companies.

“Vedanta is establishing India’s first display fab in Gujarat,” said Akarsh K. Hebbar.  “This will be the nucleus that will attract upstream and downstream players. Given the investment-friendly policies of the Indian government, there is a huge opportunity for Korean companies to invest in this electronics hub.”

KOTRA also invited H.E. Amit Kumar, India’s Ambassador to South Korea and officials from the Government of Gujarat to the event.  Also present was Manish Naik, Assistant Director, ICT and e-Goverance, Department of Science and Technology (GSEM), Government of Gujarat. H.E. Amit Kumar spoke about India as the most liberal investment destination with an ideal blend of innovation and talent, financial resources, supply chain ecosystem and industry-friendly policies.

Boom Up Korea is an annual event organized by KOTRA in collaboration with Korea’s Ministry of Trade, Industry and Energy.

Vedanta Group company Avanstrate Inc. is a pioneering leader in the display glass industry with manufacturing footprint in Korea and Taiwan. Avanstrate’s Pyeongtaek-si plant in Korea has been operational for more than 15 years, and manufactures Gen 4 to Gen 8 TFT display glass. The facility  also serves as the company’s R&D center, working on developing wafer glass, ultra-thin glass, next generation cover glass and AR/VR glass applications. 

About Vedanta Group

Vedanta Group (“Vedanta”) is a diversified global natural resources and technology conglomerate. The group produces Oil & Gas, Zinc, Lead, Silver, Copper, Iron Ore, Steel, Nickel, Aluminium, Power, Renewable Energy, and Display glass.   Vedanta has operations in India, Zambia, Namibia, South Africa, Korea and Taiwan.   Vedanta is foraying into the manufacture of semiconductors and displays, with plans to set up an integrated electronics center in India and is partnering with Foxconn for semiconductor manufacturing. With an empowered talent pool globally, Vedanta places strong emphasis on partnering with all its stakeholders based on the core values of trust, sustainability, growth, entrepreneurship, integrity, respect and care. Good governance and sustainable development are at the core of Vedanta’s strategy, with a strong focus on health, safety and environment, and on enhancing the lives of local communities. The group is focused on becoming the ESG leader in the natural resources sector and is committed to reducing carbon emissions to zero by 2050 or sooner. It has pledged $5 billion over the next 10 years to accelerate the transition to net zero operations. The group’s CSR philosophy is to eradicate poverty and malnutrition with a focus on development of women & children through the marquee project Nand Ghar.

 Disclaimer

This press release contains “forward-looking statements” – that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “should” or “will.” Forward–looking statements by their nature address matters that are, to different degrees, uncertain. For us, uncertainties arise from the behaviour of financial and metals markets including the London Metal Exchange, fluctuations in interest and or exchange rates and metal prices; from future integration of acquired businesses; and from numerous other matters of national, regional, and global scale, including those of a political, economic, business, competitive or regulatory nature. These uncertainties may cause our actual future results to be materially different that those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.

For any media queries, please contact:

Mukul Chhatwal

Group Head – PR & Media Relations, Vedanta

[email protected]

+91 880 079 8864

Sangita Ghalay

Chief Communications Officer – Semiconductor and Display Business, Vedanta

[email protected]

+91 880 074 4255

 

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