Next month. Micron Technology will begin the construction of a semiconductor assembly plant in Gujarat, India. This $2.75 billion project aims to produce microchips that are made in India by late 2024. Supported by the Indian government and the state of Gujarat. This endeavor is expected to generate up to 5,000 direct jobs in two phases. It is noteworthy that this action aligns with the US government’s initiative to encourage American chip companies to invest in India and expand their operations beyond China.
According to credible sources the government plans to commence construction on a semiconductor assembly plant next month. This significant endeavor aims to produce domestically manufactured microchips by the end of 2024.
Recently, during a momentous occasion, Ashwini Vaishnaw, the IT minister, divulged that Micron Technology is all set to commence construction in August on a staggering $2.75 billion chip assembly and test facility in the state of Gujarat. The ink on the memorandum of understanding, which paved the way for Micron’s maiden factory in the country, had barely dried last month.
In a stunning revelation last week, Micron made it known that it plans to invest a mind-boggling sum of up to $825 million (approximately Rs. 6,760 crores) in this cutting-edge facility with generous support from both the Indian central government and the state of Gujarat, the total investment is estimated to soar to a staggering $2.75 billion. The delightful facility will soon take shape in Sanand, a charming locale adjacent to the vibrant city of Ahmedabad in Gujarat.
As Micron paves the way for progress, construction of this facility in Gujarat is poised to commence in the year 2023. The first phase of this grand project is anticipated to go live in late 2024; the second phase is projected to commence in the latter half of the decade. The two phases combined will create a whopping 5,000 new direct Micron jobs, giving a much-needed boost to the economy.
Interestingly, Micron Technology’s strategic plans are unfolding just as the White House turns up the heat on US chip companies, urging them to consider investing in India. Unconfirmed rumors suggest that ongoing discussions might lead to further tantalizing investments. President Joe Biden envisions a future where domestic companies curtail the risks associated with conducting business in China, all while forging stronger ties between the US economy and India.
