In June 2023, the Union Cabinet, led by Prime Minister Shri Narendra Modi, approved Micron proposal to establish a semiconductor unit in India. The capital investment for this ambitious project amounts to ₹22,516 crore (2.75 billion dollars), with the government providing 50% fiscal support on a equal footing basis. Within a swift three months, the groundbreaking ceremony took place in September 2023 at Sanand, Gujarat.
Micron Semiconductor Plant Construction in Full Swing
Construction of the semiconductor unit is well underway, with a targeted completion time of approximately 12 months. The facility will manufacture memory and storage products, catering to both domestic and global markets.
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Job Creation and Skill Development
The project is expected to generate up to 5 thousand direct jobs and 15 thousand indirect job opportunities over the next five years. Collaborating with the India Semiconductor Mission and the Government of Gujarat, Micron aims to train about 10 thousand engineers through partnerships with academic institutions.
Over 30 gasses, chemicals, equipment, substrate manufacturing, and ancillary industries are in discussions to establish facilities in Gujarat, further contributing to the semiconductor ecosystem.
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Agreements and Milestones
Recently, agreements were signed among Micron, India Semiconductor Mission, and the Government of Gujarat to ensure timely project milestones and the disbursement of incentives.
Appreciation and Commitment
Shri Gurusharan Singh, Senior Vice President for Micron, expressed gratitude for the unwavering support, thanking the leadership at both the Central and State levels. Union Minister Shri Ashwini Vishnaw praised the coordination between the Government of Gujarat, Government of India, and the industry, assuring full commitment and facilitation for the development of the semiconductor manufacturing ecosystem in India.
Chief Minister of Gujarat Shri Bhupendra Patel highlighted the project’s rapid pace of development, gaining attention and discussions on a global scale. This initiative signifies a significant stride towards bolstering India’s position in the semiconductor industry.
About Micron Technology, Inc.
Micron Technology is an industry leader in innovative memory and storage solutions. With a relentless focus on its customers, technology leadership, and manufacturing and operational excellence, Micron delivers a rich portfolio of high-performance DRAM, NAND and NOR memory and storage products through its Micron® and Crucial® brands. To learn more about Micron Technology, Inc. (Nasdaq: MU), visit micron.com.
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