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

Elest, a subsidiary of gold retailer Rajesh Exports, will set up the country’s first display manufacturing plant in Telangana with investments worth Rs 24,000 crore.

Telangana IT Minister KT Rama Rao and Rajesh Exports Chairman Rajesh Mehta have announced the creation of the Generation 6 AMOLED Display FAB, an official statement said on Sunday.

The Telangana government has signed a memorandum of understanding with Karnataka-based Elest for the proposed manufacturing unit that will manufacture next-generation displays for smartphones, tablets and laptops.

Rama Rao tweeted: “Historic day for Telangana. Rajesh Exports (Elest), a Fortune-500 company, to set up 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 biggest investments in high-tech manufacturing in India.

Elest, formed by the promoters of Rajesh Exports, a global Fortune 500 company, would set up the Display FAB in technological association and with technological inputs from some of the most advanced and successful research centers in the world, according to the press release. .

Rama Rao further said that having a display factory in Telangana would place India on a global map on par with a few countries such as China, USA and Japan.

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

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

With the announcement of the investment, Telangana emerges as a leader in the semiconductor and display maker industry, the statement said, adding that it is one of the biggest investments in the electronics sector in the country and the largest investment ever by size in Telangana State.

The display factory would be set up under the India Semiconductor Mission program of the Indian government’s Ministry of Electronics and Information Technology.

Rajesh Exports Chairman, Rajesh Mehta, said the Telangana display factory will attract some of the world’s best talent in next-generation technology and generate direct opportunities for more than 3,000 people, including scientists and advanced technology professionals.

“It would create a much larger ecosystem of partners, auxiliaries, suppliers, generating thousands of jobs. said.

Elest will also set up a research and development center for research into next-generation areas of advanced display technology, the statement added.

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

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