Micron’s $2.7 Billion Move To Transform India’s Semiconductor Landscape
An investment plan of over $2.7 billion was announced by American computer chip maker Micron on Thursday after PM Narendra Modi’s meeting with Micron CEO Sanjay Mehrotra in the US. This marks India’s first major semiconductor investment comprising $825 million (around Rs 6,760 crore) from Micron and the rest from the government in two phases. As per sources, the move is called a ‘big milestone’ by Junior minister for IT & electronics Rajeev Chandrasekhar.
Approved under the government’s “Modified Assembly, Testing, Marking and Packaging (ATMP) Scheme”, Micron’s phased construction is expected to begin in 2023. “Phase 1, which will include 500,000 square feet of planned clean room space, will become operational in late 2024,” Micron said. It also added that “Government support will help fund the project and facilitate access to essential semiconductor infrastructure and resources to drive innovation and enhance local talent development”.
Read More At: The Times of India