In a tweet on Sunday, the Industries and IT minister of Telangana, KT Rama Rao, revealed that Rajesh Exports (Elest) would be setting up India’s first display fab for manufacturing advanced AMOLED displays.
The unit has started off with an investment of INR 24,000 crores, making it one of the largest high-tech investments in India. You can have a look at the tweet below.
What can we expect from this setup?
Karnataka-based Elest mainly aims at manufacturing products like AMOLED displays, electric vehicles, and batteries. This INR 24,000 crore fabrication facility will be manufacturing Gen 6 AMOLED displays for laptops, smartphones, and tablet computers, as announced by Chairman Rajesh Mehta.
This investment is one of the largest in terms of size and India’s electronic sector. It is a part of India’s $10bn Semicon India Scheme. States like Karnataka and Tamil Nadu were also potential candidates for this project, but Telangana finally bagged it.
A Memorandum of Understanding has been signed by Jayesh Ranjan, Principal Secretary for IT & Industries of the state, along with Rajesh Mehta, chairman of Rajesh exports.
KT Rama Rao is optimistic about this project. He stated that this investment in Telangana would also put India on the global advanced high-tech manufacturing map. KT also tweeted, “What was hitherto possible only in Japan, Korea, and Taiwan, will now happen in Telangana.”
To create a large-scale ecosystem of partners and ancillaries, supplying world-class TV, smartphones, and tablet makers. The display fab facility will have tech inputs from recognized and advanced research centers across the globe.
Chairman of Rajesh exports stated that this Display Fab in Telangana would appeal to the finest global talents in next-gen technology and would play a helping hand in the technology growth in India.