Vedanta looking to raise $3bn to become India's first chipmaker
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Vedanta is leaving no stones unturned as it pushes to become India's first chipmaker. The company is now in talks with banks to raise $2.5-$3 billion to boost its semiconductor and display manufacturing plans. The oil-to-metal conglomerate formed a joint venture with Taiwan's Foxconn in February to enter chip manufacturing. The company is also seeking incentives from both central and state governments.