Mining conglomerate Vedanta Limited has appointed Terry Daly – A seasoned industry veteran as an advisor for its semiconductor business in India. The move is seen as part of the company’s efforts to expand its presence in the fast-growing semiconductor market in the country. Daly brings over three decades of experience in the semiconductor industry having previously held senior leadership positions at companies such as Texas Instruments and Motorola. He will provide strategic guidance to Vedanta’s semiconductor business which the company has been developing over the past few years.
Vedanta Appoints Terry Daly for Semiconductor Business
In a statement, Vedanta said that Daly’s expertise and insights would be valuable in accelerating the growth of its semiconductor business. The company has been investing heavily in this area, with plans to set up a semiconductor fabrication plant in India. The project is expected to involve an investment of around $10 billion which is aimed at meeting the increasing demand for semiconductors in the country.
India’s semiconductor market has been growing rapidly in recent years: driven by factors such as the government’s push for local manufacturing and the rise of new technologies such as 5G and artificial intelligence. However, the country still imports the majority of its semiconductors which are highlighting the need for local production.
Vedanta is not the only company looking to tap into this opportunity. Several other firms, including Reliance Industries and Tata Group, have also announced plans to enter the semiconductor market in India. With Daly’s expertise on board Vedanta will be hoping to gain a competitive edge in this crowded market.
Overall, Daly’s appointment is a positive development for Vedanta’s semiconductor business and underscores the company’s commitment to this growing sector. As the demand for semiconductors continues to rise in India, companies that can establish a strong foothold in this market are likely to reap significant benefits in the years ahead. Read more latest business news and stay tuned for more updates.