Rajesh Exports, a jewellery exporter, aims to invest heavily in new technology categories including as battery cells for electric cars and semiconductor display fabs in Karnataka and other states.
Rajesh Exports executive chairman Rajesh Mehta said, “We would invest roughly Rs 50,000 crore in the electric cars industry over the next seven years.”
Rajesh Exports intends to build its own electric car line in the next 12 to 18 months, with Karnataka as the investment destination.
The business is in negotiations with three states, including Tamil Nadu, to build up a Rs 24,000-crore display fab plant under the Centre’s $10-billion Semicon India programme to kick-start the country’s semiconductor and display ecosystem.
