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Vedanta Semiconductor Company New CEO: Vedanta Group has selected the Chief Executive Officer to give a new direction to its semiconductor business. Giving information on Monday, Vedanta Ltd said that it has appointed David Reed as the CEO of its semiconductor business. After which the semiconductor business in India is expected to get a new momentum. A plant has been set up in Gujarat to manufacture semiconductors in the country. Which is being seen as the beginning of a new era in the electronics sector.
David Reid got new responsibility
According to Vedanta Limited, David Reid has been given the prime responsibility for setting up a Semiconductor Fab Unit and a Semiconductor Assembling and Testing Unit in India. David moved to NXP in 2015 as part of the company’s merger with American Freescale Semiconductor. Along with this, he has also given services in GlobalFoundries. Where he has held the position of Executive Vice President and General Manager of Global Operations.
what is the target
Billionaire Anil Agarwal-led Vedanta Group had tied up with Foxconn of Taiwan in September 2022 last year for the manufacturing business of semiconductors. Vedanta has stepped up its $20 billion joint semiconductor business with Foxconn. It is going to start from the state of Gujarat. After this project, semiconductor facilities will be available in the country. It is known that India’s semiconductor market is estimated to reach $ 63 billion by 2026, which was $ 15 billion in 2020.
so much experience
Vedanta said that David Reid has more than 35 years of experience. Has worked at Reed’s International level. He has rich experience in the sectors of Wafer Fabrication, Research & Development, Testing, Packaging with Quality Management, Supply Chain Management. Which will now take Vedanta’s semiconductor business to new heights in India.
Semiconductor shortage in the world
There is a shortage of semiconductors all over the world, after which the production of vehicles has decreased. Its effect is also being clearly seen on mobile phones, laptop computers. India is still dependent on imports for the supply of semiconductors in the country. But the government is focusing on semiconductor manufacturing in the country itself. On the other hand, on February 6, 2023, a decline in the share of Vedanta has been registered on BSE. Vedanta’s stock fell 2.56 percent to close at Rs 306.25.
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