Micron Technology to Establish a Semiconductor Plant in Gujarat
29 June 2023: US based Micron Technology is planning to set up a semiconductor plant in Gujarat, said Union Minister for Railways, Electronics, IT and Telecom Ashwini Vaishnaw recently. The $2.7-billion semiconductor assembly and testing plant with first ‘Made-in-India’ chip will be produced in 18 months (ie. December 2024). He further said, the Micron plant in Gujarat will be a state-of-the-art plant. Micron is the fifth largest company in manufacturing semiconductors used by mobiles, laptops, servers, defence equipment, cameras, electric vehicles, trains, cars and telecom equipments. The plant would create 5,000 direct and 15,000 indirect jobs, Vaishnaw said.
Micron has announced its plans to build a new assembly plant in Gujarat with an investment of $825 million after Prime Minister Narendra Modi met Micron Technology CEO Sanjay Mehrotra in USA and invited him to boost semiconductor manufacturing in India. Micron stated that the construction of the new assembly and test facility is likely to begin in phases in 2023. The first phase of the project with 5,00,000 square feet space will become operational in late 2024.
The government has revised incentives offered to manufacturers under the Production-Linked Incentive (PLI) scheme, first in September 2022, and subsequently recently and invited previously ineligible applicants to re-apply for benefits, namely tax benefits for finished goods.
