Two days after reports confirmed India’s approval of Micron’s plan for a new semiconductor unit, the US chipmaker has announced its investment of up to $825 million to establish a chip testing and packaging unit facility in India.
This facility will be Micron’s first in the country and will be located in Gujarat. According to Reuters, the total investment in the facility will amount to $2.75 billion.
The central government will contribute 50% of the total investment, while Gujarat will contribute 20%.
Construction is scheduled to begin this year, with the first phase of the project expected to be operational by late 2024. The second phase is anticipated to begin in the second half of the decade. Together, these two phases will create around 5,000 new direct Micron jobs.
As Prime Minister Narendra Modi met with chief executives of top American companies during his US visit, this investment aligns with the US government’s push for US chip companies to invest in India. It also supports the US’s efforts to reduce business risks associated with operating in China.
Notably, Apple has already increased its production of iPhones in India, manufacturing approximately 7% of its total iPhone production in the country. Google is also in talks to assemble its Pixel phones in India, as discussed by Google CEO Sundar Pichai and Minister for Information Technology, Ashwini Vaishnaw, during their meeting last month.
This facility will be Micron’s first in the country and will be located in Gujarat. According to Reuters, the total investment in the facility will amount to $2.75 billion.
The central government will contribute 50% of the total investment, while Gujarat will contribute 20%.
Construction is scheduled to begin this year, with the first phase of the project expected to be operational by late 2024. The second phase is anticipated to begin in the second half of the decade. Together, these two phases will create around 5,000 new direct Micron jobs.
As Prime Minister Narendra Modi met with chief executives of top American companies during his US visit, this investment aligns with the US government’s push for US chip companies to invest in India. It also supports the US’s efforts to reduce business risks associated with operating in China.
Notably, Apple has already increased its production of iPhones in India, manufacturing approximately 7% of its total iPhone production in the country. Google is also in talks to assemble its Pixel phones in India, as discussed by Google CEO Sundar Pichai and Minister for Information Technology, Ashwini Vaishnaw, during their meeting last month.
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