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. According to an official announcement issued here on Sunday, Telangana IT Minister K T Rama Rao and Chairman of Rajesh Exports Rajesh Mehta announced the establishment of the Generation 6 AMOLED Display FAB.
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 greatest investments in India’s high-tech manufacturing industry.”
According to the press announcement, Elest, which was founded by the entrepreneurs of Rajesh Exports, a worldwide Fortune 500 firm, will build the Display FAB in collaboration with and with technical inputs from some of the world’s most advanced and finest research centers.
Rama Rao went on to say that establishing a display fab in Telangana will position India on a level with a select few countries such as China, the United States, and Japan on the global map.
What Telangana Govt. Says Gen 6 Amonled Display Fab?
“The Telangana government has been working on a mission mode to have a Fab in the state since the introduction of the India Semiconductor Mission, and this investment would provide us with the extra impetus to continue our efforts,” he said.
According to him, the administration believes that establishing a display fab in the state will be a big boost to the state’s thriving electronics and IT ecosystem and its ancillaries.
The news of this investment positions Telangana as a front-runner in the semiconductor and display fab sector, according to the statement, and it is one of the country’s largest investments in the electronics sector, as well as the largest investment by size in Telangana state.
The Display Fab Would Be Built As Part of India’s Semiconductor Mission, Which Is Run By The Ministry of Electronics and Information Technolgy
Rajesh Exports Chairman Rajesh Mehta claimed the Telangana display fab would attract some of the best worldwide talents in next-generation technology and provide direct employment to over 3,000 people, including scientists and sophisticated technology specialists.
“It would expand the ecosystem of partners, ancillaries, and suppliers, resulting in the creation of thousands of employees. Elest is certain that the establishment of a Gen6 AMOLED Display production facility would pique worldwide attention and safeguard our country’s future technological prosperity “he stated