Vedanta fully equipped to make chips in India: Anil Agarwal

Agarwal: I am looking forward to India to be a developed country. There is no country like India with 1.4 billion people; most of them are young. We all have to be together to make sure we make our country a developed nation. We have to make our per capita income $5,000 which is $2,000. The moment we reach $5000 in the world — the average is about $15,000. At least we should reach $5000. The moment $5000 comes we will be there.

We are looking at the semiconductor that is today's oil. We are a chip-taker, we'll be chip maker, and this will change our country. Without chip, nothing will happen. Time to come, whether it's artificial intelligence or anything, and you trust me, please trust me, this will happen and we will do it and then many more can come, they can do it also.

A: One thing for sure, because we are in this business, we have a factory which makes the display glass in Korea. In Taiwan, we are so well placed in Taiwan. TCMC,  which is one of the largest manufacturers of semiconductor is around us. So, we are fully equipped for making semiconductor. We always leave in the era of public sector and the government and the government maybe when we got independence, it was the era where that time government has to set up the manufacturing and that is what they do. That has gone, and now we have entrepreneur after entrepreneur. This is the era of entrepreneurs.

Semiconductors, these are very technical. We are very comfortable and this question will come and go and whether 29 or 30 or 20 we are fully equipped. We have a David Reed, who is the pioneer of making semiconductors. He is hiring 400 people to make this happen. We have already selected the site of Gujarat and the government is with us shoulder to shoulder. The kind of confidence which I have seen in the government, in the public, in the Foxconn, some people say if anybody can do it will be Vedanta or Anil Agarwal. This is what the murmur people are talking about. So, I feel very good this is going to happen as far as the Vedanta shareholders consent did, they are my family. So, we have to look at it is an umbrella and there are lot of things which we have to make sure regulator everything is taken care of. But I will always be, from bottom my heart, how our Vedanta shareholder is part of it. I will always be looking at that and see how this can happen.

A: I always want to do something which is for my country where I can save the country's resources and can use those resources for us. Now the Modi government has come and Modi-ji has this vision and he realised how important it is the time of entrepreneur. He has started this slogan — the government has no business to be in a business and each of the business which has been divested, it has created 5 times more employment and created phenomenal revenues for the government.

Agarwal: The Sterlite Copper thing is unfortunate. The world does not want us to be in manufacturing, they want us to remain as an importing nation. The Supreme Court has allowed us to open the plant to make sure that we maintain the plant, keep it ready and the hearing is after two months. It is also depriving hundreds of industries and vendors as we supply them with raw materials. So sometimes in democracy, these things happen but I have no doubt that it is a question of just one or two months before this plant will open and you all will be very proud of this.

Agarwal: Our vision is that Vedanta will be more than one trillion dollar company in next 10 years. We will produce our own copper, oil and gas. Vedanta is the ambassador of India to the whole world. So please come to India and invest. India is the largest democracy, where so much of demand is there. To keep growing innovation and developing new products is very important.