Minister KTR Welcomes India’s First Display FAB to Telangana with an Investment of Rs. 24,000 Crore
Taking a massive step towards transforming Telangana into the most attractive investment destination in the country, the government signed an MoU with Karnataka-based Elest for setting up of India’s first Display FAB.
Elest has been incorporated by the promoters of Rajesh Exports, a Global Fortune 500 company. Elest has been incorporated specifically for the purpose of manufacturing innovative technology products such as AMOLED displays, Lithium-ion cells, batteries, and EVs. Elest 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.
Minister K T Rama Rao along with Chairman of Rajesh Exports Mr. Rajesh Mehta announced setting up of Generation 6 AMOLED Display FAB which involves an investment to the tune of INR 24,000 Crore. The proposed Fab will manufacture next generation displays for smartphones, tablet computers, and laptops.
On the occasion of this announcement, Minister KTR 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 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 provide us further encouragement to continue our efforts. 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.”
With the announcement of this investment, Telangana emerges as a front-runner in the Semiconductor and Display Fab sector. It is one of the largest investments in the country’s electronics sector and the largest ever investment by size in the State of Telangana.
The Display FAB would be set up under the India Semiconductor Mission program of the Ministry of Electronics & Information Technology, Government of India. Chairman of Rajesh Exports Mr. 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 3000 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.”
Elest would also be setting up a Research and Development centre for research in the next generation areas of advanced display technology.
Principal Secretary ITE&C, I&C Jayesh Ranjan, Director Electronics Sujai Karampuri and Elest CEO Shyam Raghupathy were also present at the MoU signing.