Elest, a subsidiary of gold retailer Rajesh Exports, would invest Rs 24,000 crore in Telangana to build the country’s first display fab facility. Telangana IT Minister K T Rama Rao along with Chairman of Rajesh Exports Rajesh Mehta announced setting up of Generation 6 AMOLED Display FAB.
One of the largest investments in India’s high-tech manufacturing sector
Telangana’s government has struck an agreement with Elest, a company based in Karnataka, to build next-generation screens for smartphones, tablet computers, and laptops.Rama Rao wrote on Twitter:
“Telangana has reached a watershed moment in its history. With an investment of Rs 24,000 crore, Rajesh Exports (Elest), a Fortune 500 firm, will establish India’s first Display FAB to manufacture the most modern AMOLED displays, making it one of the largest investments in India’s high-tech manufacturing sector.”
Display FAB collaborate with world’s most advanced and finest research institutes
Elest, a company founded by the promoters of Rajesh Exports, a Fortune 500 company, will build the Display FAB in collaboration with technology inputs from some of the world’s most advanced and finest research institutes. The Display FAB will cost Rs 24,000 crore, making it one of India’s largest investments in the high-tech manufacturing sector.”
Rama Rao further 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 India Semiconductor Mission, the Telangana government 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,” he said.
Boost the thriving electronics and IT ecosystem in the state
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, he said.
State emerges as front-runner in the semiconductor and display fab sector
With the announcement of this investment, Telangana emerges as a front-runner in the semiconductor and display fab sector, the release said adding it is one of the largest investments in the country’s electronics sector and the largest ever investment by size in Telangana state.
The display fab would be set up under the India Semiconductor Mission programme of the Ministry of Electronics and Information Technology, Government of India.
Provide direct employment to over 3,000 people
Rajesh Exports Chairman Rajesh Mehta claimed the Telangana display fab would attract some of the best worldwide talent in next-generation technology and provide direct employment to over 3,000 people, including scientists and sophisticated technology specialists.
“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, he said.
Elest would also be setting up a research and development centre for research in the next generation areas of advanced display technology, the release added.
