India’s First Display Fabrication Unit
On June 12, 2022, Government of Telangana signed an MoU with Bengaluru-based Elest, to set up India’s first display fabrication unit in Hyderabad.
- The display fabrication unit will be set with an investment of Rs 24,000 crore. It will be set up under India Semiconductor Mission Programme of Ministry of Electronics & Information Technology.
- Elest was promoted by Rajesh Exports, which is a Global Fortune 500 company involved in manufacturing of ultra-modern displays for smart mobile phones and TVs.
- Generation 6 AMOLED Display FAB will be set up in Hyderabad, for manufacturing next generation displays for tablet computers, smartphones, and laptops.
Why was Elest incorporated?
- Elest was incorporated specifically to manufacture innovative technology products like lithium-ion cells, EVs, AMOLED displays, and batteries.
- It would set up the display fabrication unit with technology inputs from and in technological association with most advanced and finest research centres worldwide.
Significance of the Display FAB
Setting up Display FAB in Telangana will put India on a global map, along with countries like USA, China, and Japan. Government is confident that having a Display FAB in Telangana will be a major boost for thriving Electronics and IT ecosystem and its ancillaries in the state.
Ever since the India Semiconductor Mission was announced, Government of Telangana has been working on Mission mode to set up a FAB in state.
The ISM was launched in 2021 at an outlay of Rs 76,000 crore under the aegis of Ministry of Electronics and IT (MeitY). The scheme is a part of comprehensive program for development of sustainable semiconductor and display ecosystem in India. It was launched with the aim of providing financial support to companies investing in semiconductors, design ecosystem and display manufacturing.
Month: Current Affairs - June, 2022
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