Although Agarwal has clarified that investments in the semiconductor business will not be through the locally listed Vedanta Ltd, his company’s actions tell a different story.
Earlier this year, Vedanta chairman Anil Agarwal disclosed his intent to invest in the semiconductor and electronics manufacturing business. It came as a bit of a surprise, as until then he was known only for making big bets on commodities like steel, aluminium, copper and crude oil.
It looked like Agarwal—who is known to seize an opportunity when he sees one—saw a huge business potential in the shortage of semiconductor chips India was facing, and his plans squarely played into Prime Minister Narendra Modi’s call to be self-sufficient when it came to the critical piece of equipment that was wreaking …
Surendar helps lead the newsroom at The Morning Context as executive editor. Over the years, Surendar has worked in industries from pharmaceuticals to diamonds, as well as a stint as an equity analyst. In his long career as a business journalist, he has led teams at The Times of India, India Today and Fortune India. He was part of the founding team at Forbes India and interned at and published in The Times, London.
Executive Editor
surendar@mailtmc.com
Mumbai