The development comes months after both companies, through a joint venture, proposed to set up a chip manufacturing facility in the state with an investment of ₹1.54 lakh crore.
It may be early to judge, but long years of past subsidies have made little difference; manufacturing's GDP share is stuck at 17-18% for 16 years while employment share has fallen to 10.9% in FY21.
Vedanta has clarified that the proposed business of manufacturing semiconductors will be undertaken by its holding company, Volcan Investments.
