India’s first display fab to be established in Telangana worth Rs 24,000 cr

Elest, a subsidiary of gold retailer Rajesh Exports, will be setting up the country’s first display fab facility in Telangana with investments worth Rs 24,000 crore.

Telangana IT Minister K T Rama Rao along with Chairman of Rajesh Exports Rajesh Mehta announced setting up of Generation 6 AMOLED Display FAB, an official release said here on Sunday.

The Telangana government signed an MoU with Karnataka-based Elest for the proposed fabrication unit which will manufacture next generation displays for smartphones, tablet computers, and laptops.

Rama Rao tweeted: “Historic day for Telangana. Rajesh Exports (Elest), a Fortune-500 company, to setup India’s first Display FAB to manufacture the most advanced AMOLED displays, with an investment of Rs 24,000 crore, making it one of the largest investments in high-tech manufacturing sector in India.”

Elest, incorporated by the promoters of Rajesh Exports, a global Fortune 500 company, would be setting up the Display FAB in technological association and with technology inputs from some of the most advanced and finest research centres across the world, the release said.

Rama Rao further said having a display fab in Telangana would put India on a global map at par with select few countries such as China, USA, and Japan.

“Since the announcement of India Semiconductor Mission, the Telangana government has been working on a mission mode to have a Fab in the state and this investment will provide us further encouragement to continue our efforts,” he said.

The government is confident that having a display fab in the state will be a major boost to the thriving electronics and IT ecosystem in the state and its ancillaries, he said.

Telangana puts India on the world map of advanced high-tech manufacturing.

What was hitherto possible only in Japan, Korea & Taiwan, will now happen in Telangana.

To create large scale ecosystem of partners & ancillaries, supplying to world class TV, smartphone & tablet makers

— KTR (@KTRTRS) June 12, 2022

With the announcement of this investment, Telangana emerges as a front-runner in the semiconductor and display fab sector, the release said adding it is one of the largest investments in the country’s electronics sector and the largest ever investment by size in Telangana state.

The display fab would be set up under the India Semiconductor Mission programme of the Ministry of Electronics and Information Technology, Government of India.

Chairman of Rajesh Exports Rajesh Mehta said the display fab in Telangana would attract some of the finest global talents in the next generation technology and would generate direct opportunity to more than 3,000 people, including scientists and advanced technology professionals.

“It would create a much larger ecosystem of partners, ancillaries, suppliers, generating thousands of jobs. Elest is confident that the setting up of the Gen6 AMOLED Display manufacturing facility will generate a global interest and would ensure future technology growth in our country, he said.

Elest would also be setting up a research and development centre for research in the next generation areas of advanced display technology, the release added.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor