Twinstar Display Technologies to set up India’s 1st LCD Panel Fab

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• Volcan Investments, whose other investments include Vedanta Resources & Sterlite Technologies, will sign a MoU with the Government of Maharashtra during ‘Make in India’ Week.
• The project envisions to realise the targets of Make in India and Net Zero Electronics import by 2020
• Over 30,000 people will get direct & indirect employment with the setting up of one of the world’s largest LCD fab units

Udaipur : Twinstar Display Technologies, promoted by Volcan Investments, will sign a Memorandum of Understanding (MoU) with the Government of Maharashtra, to set up India’s first LCD Manufacturing Unit, known as Panel FAB. Under the agreement, Twinstar Display Technologies will invest $10 billion over 5 phases in setting up India’s first and one of the world’s largest LCD fab units.
“We have made good of the promise we made to the nation during the Digital India Summit in July 2015. We are happy to participate in two of the Government’s key initiatives – the ‘Make in India’ campaign as well as ‘Net Zero Electronics import by 2020’. We will endeavour to make India a significant export hub of display units with the setting up of Panel FAB,” said Anil Agarwal, Chairman, Vedanta Group.
Panel FAB is expected to begin production by 2018, with full production over next 10 years subjected to external environment. Upon completion, the project will provide direct and indirect employment to over 30,000 people, and contribute 7% - 10% to Maharashtra’s Industrial Gross Domestic Product. The project requires about 300 acres of land and two locations have been shortlisted so far.
India’s is one of the fastest growing markets for LCD Panel based products such as TV/Smartphones/Tablets/Desktops/Laptops. At present, all LCD panels are imported. By 2020, India’s LCD Panel import bill is expected touch US $10 Billion. Panel FAB will not only significantly reduce this, but also earn foreign exchange through exports.
A FAB unit can only be successful if the whole ecosystem around it develops and Twinstar Display Technologies is confident of bringing many ancillary partners to the country and make India a leading Electronic System Design and Manufacturing (EDSM) destination.