June 24, 2023
2 mins read

Chip giant Micron sets eyes on India

Union Minister of State for Electronics and IT, Rajeev Chandrasekhar, said that this is a big milestone in India’s roadmap and growth as a ‘Semiconductor Nation’…reports Asian Lite News

Micron Technology on Thursday announced to set up a new $2.75 billion semiconductor assembly and test facility in Gujarat, a day after Prime Minister Narendra Modi met Sanjay Mehrotra, the Indian-American President and CEO of Micron, in Washington DC during his state visit to the US.

Micron’s investment will be up to $825 million over the two phases of the project and will create up to 5,000 new direct Micron jobs and 15,000 community jobs over the next several years.

Under the government’s ‘Modified Assembly, Testing, Marking and Packaging (ATMP) Scheme,’ Micron will receive 50 per cent fiscal support for the total project cost from the Centre and incentives representing 20 per cent of the total project cost from Gujarat.

The combined investment over the course of two phases will be up to $2.75 billion.

Micron’s new facility will enable assembly and test manufacturing for both DRAM and NAND products and address demand from domestic and international markets, the company said in a statement.

The Prime Minister had invited Micron Technology to boost semiconductor manufacturing in India and noted that the country can provide competitive advantages in various parts of the semiconductor supply chain.

“We are excited about the steps India is taking to develop the local semiconductor ecosystem,” said Mehrotra.

“I am grateful to the Indian government and all of the officials involved that made this investment possible. Our new assembly and test location in India will enable Micron to expand our global manufacturing base and better serve our customers in India and around the world,” he added.

The phased construction of the new assembly and test facility in Gujarat is expected to begin in 2023.

Phase 1, which will include 500,000 square feet of planned cleanroom space, will start to become operational in late 2024, and Micron will ramp capacity gradually over time in line with global demand trends.

Micron expects Phase 2 of the project, which would include construction of a facility similar in scale to Phase 1, to start towards the second half of the decade.

“Micron’s investment to set up assembly and test manufacturing in India will fundamentally transform India’s semiconductor landscape and generate tens of thousands of high-tech and construction jobs,” said IT and Railways Minister Ashwini Vaishnaw.

“This investment will be a crucial building block in the country’s blossoming semiconductor ecosystem,” the minister added.

Union Minister of State for Electronics and IT, Rajeev Chandrasekhar, said that this is a big milestone in India’s roadmap and growth as a ‘Semiconductor Nation’.

“In the last 18 months, after the announcement of Semiconductor vision by PM Modi and the planned investment of Rs 76,000 crore to catalyse and build India’s Semicon Ecosystem, much progress has been made,” he said in a statement.

“This is just a beginning as there is more to come as India rapidly grows as a significant and trusted partner to global electronics and semiconductor value and supply chain,” Chandrasekhar added.

ALSO READ: Microsoft to build quantum supercomputers

Previous Story

Rolls-Royce’s scholarship programme for women students

Next Story

Wagner Chief to leave Russia under deal brokered by Lukashenko

Latest from Business

China Curbs Hit India’s Electronics Boom

The ICEA noted this results in delays, inefficiencies, and higher costs — alternatives from Japan or Korea cost up to four times more than Chinese machinery. India’s transformation into a global electronics

India Maps 8.52 MT Rare Earth Reserves

The Atomic Minerals Directorate for Exploration and Research (AMD) and the Geological Survey of India (GSI) are actively exploring and augmenting rare earth resources, while the GSI alone has added 482.6 million

‘India’s Digital Hub Ascends’

The event also featured discussions on the Quad Partnership for Cable Connectivity and Resilience, reiterating commitments made during the July 1 Quad Foreign Ministers’ Meeting India’s growing role as a key digital

India’s Job Market Surges

With hiring levels on the rise, compensation is expected to increase by 12-15% in metro cities and by 18-22% in emerging cities India’s festive season this year is poised to create more
Go toTop

Don't Miss

Micron CEO praises India’s semiconductor power

Mehrotra emphasised the importance of semiconductors in daily life, noting

Micron to set up $2.75 bn semiconductor facility in India

Micron’s new facility will enable assembly and test manufacturing for