Micron's Gujarat facility to produces chips in India for local and global markets
The chips which will be manufactured in Micron's Gujarat facility may be shipped to Indian customers and also abroad, CEO of Micron Technology Sanjay Mehrotra stated that the annual semiconductor meeting in Gujarat. "I am proud to be here today to represent the company's commitment to build a semiconductor test facility right here in Gujarat. It is a first for India and the first major semiconductor company investment in the nation," Mehrotra said at Semicon India 2023 event. Mehrotra also said that it is estimated that the Gujarat facility will create as many as 5,000 jobs.
"We estimate that our project in Gujarat will create nearly 5000 direct jobs and additional 15,000 jobs in the community. We are hopeful that this investment will help catalyze other investments in the sector," he added. Referring to digital India and Make in India, he said the initiatives are creating a truly transformative energy that will continue to drive positive progress. Earlier, the American chip maker announced that it would invest up to $825 million in its first chip assembly and test facility in India's Gujarat.
With support from the Centre and Gujarat govt, the total investment in the factory will be $2.75 billion, Micron had said. Of this, 50 percent contribution will come from the Central government and 20 percent from the state of Gujarat. The Cabinet had okayed the project ahead of Prime Minister Modi's state visit to the US. At the conference, Minister for Information Technology Aswini Vaishnaw also said that the construction of Micron's Gujarat facility will start soon. Of late, global companies have begun seriously looking at India as a viable investment destination for semiconductors. India has been positioning itself as an attractive destination for electronics and semiconductors.
In 2021, India unveiled a $10 billion incentive program for the chip sector, but the plan has floundered as no company has so far managed to get clearance for setting up a fabrication plant, the centerpiece of Modi's ambitions. The Indian semiconductor market was valued at $27.2 billion in 2021. It is seen growing at a healthy CAGR of nearly 19 percent to touch $64 billion in 2026. India, however, has not manufactured any chips locally so far.
"We estimate that our project in Gujarat will create nearly 5000 direct jobs and additional 15,000 jobs in the community. We are hopeful that this investment will help catalyze other investments in the sector," he added. Referring to digital India and Make in India, he said the initiatives are creating a truly transformative energy that will continue to drive positive progress. Earlier, the American chip maker announced that it would invest up to $825 million in its first chip assembly and test facility in India's Gujarat.
With support from the Centre and Gujarat govt, the total investment in the factory will be $2.75 billion, Micron had said. Of this, 50 percent contribution will come from the Central government and 20 percent from the state of Gujarat. The Cabinet had okayed the project ahead of Prime Minister Modi's state visit to the US. At the conference, Minister for Information Technology Aswini Vaishnaw also said that the construction of Micron's Gujarat facility will start soon. Of late, global companies have begun seriously looking at India as a viable investment destination for semiconductors. India has been positioning itself as an attractive destination for electronics and semiconductors.
In 2021, India unveiled a $10 billion incentive program for the chip sector, but the plan has floundered as no company has so far managed to get clearance for setting up a fabrication plant, the centerpiece of Modi's ambitions. The Indian semiconductor market was valued at $27.2 billion in 2021. It is seen growing at a healthy CAGR of nearly 19 percent to touch $64 billion in 2026. India, however, has not manufactured any chips locally so far.
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