US memory chip company Micron Technology has signed a memorandum of understanding with the Indian government to construct its first semiconductor plant in the country. Micron will invest up to $825 million (approximately Rs. 6,850 crore) in the facility, with a total investment of $2.75 billion (approximately Rs. 22,560 crore) supported by the Indian central government and the state of Gujarat. The plant will be situated in Sanand, near Ahmedabad in Gujarat. The Indian central government will contribute 50 percent of the total investment, while the state of Gujarat will contribute 20 percent. The project received approval from India’s Cabinet before Prime Minister Narendra Modi’s visit to the US. Construction of the facility is expected to begin in 2023, with the first phase becoming operational in late 2024. The project will create up to 5,000 new jobs at Micron. © Thomson Reuters 2023.
In other news, Apple’s annual developer conference, WWDC 2023, is just around the corner. We are eagerly anticipating the unveiling of Apple’s first mixed reality headset and new software updates. To learn more about what to expect at WWDC 2023, listen to our discussion on Orbital, the Gadgets 360 podcast. You can find Orbital on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music, and other podcast platforms.
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