Vedanta to create hub to manufacture iPhones, TV equipment in Maharashtra: Report

Vedanta Ltd will create a hub to manufacture Apple's iPhones and other television equipment in Maharashtra, chairman Anil Agarwal said in an interview to CNBC TV18 on Wednesday. Vedanta and Foxconn on Tuesday signed memorandums of understanding (MoUs) with the Gujarat government to set up a semiconductor manufacturing facility with an investment of Rs 1.54-lakh crore.

However, the development has led to a political blame game in Maharashtra as the companies were in talks with the state government to set up the semiconductor manufacturing facility there. Earlier in July, Vedanta and Foxconn had met Maharashtra chief minister Eknath Shinde and deputy chief minister Devendra Fadnavis for investment in the proposed manufacturing facility. However, Gujarat, with better sops, got clinched the investment. The opposition in Maharashtra had on Tuesday slammed the Eknath Shinde-led government for "losing out" on the big-ticket project.