Micron: PM Modi US visit: Micron to invest $800 million-plus for chip facility in India – Times of India
Two days after it was reported that India has approved Micron‘s plan for a new semiconductor unit, the US chipmaker confirmed that it will invest up to $825 million in establishing a chip testing and packaging unit facility in India.
The new facility will be the company’s first in the country and will be set up in Gujarat. According to news agency Reuters, Micron said that the total investment in the facility will be $2.75 billion.
Of that total, 50% will come from the central government and 20% from Gujarat.Construction begins this year
The report cited Micron as saying that the construction of the facility is expected to begin in 2023. While the first phase of the project will be operational in late 2024, the second phase of the project is expected to start in the second half of the decade.
Reportedly, the two phases together will create up to 5,000 new direct Micron jobs.
PM Modi’s US visit
The move comes as Prime Minister Narendra Modi met chief executives of several top American companies. He will be hosted at a state dinner in the White House on June 22. The US is reportedly pressing US chip companies to invest in India.
The US has been asking US-based companies to decrease the risks of doing business in China.
The new facility will be the company’s first in the country and will be set up in Gujarat. According to news agency Reuters, Micron said that the total investment in the facility will be $2.75 billion.
Of that total, 50% will come from the central government and 20% from Gujarat.Construction begins this year
The report cited Micron as saying that the construction of the facility is expected to begin in 2023. While the first phase of the project will be operational in late 2024, the second phase of the project is expected to start in the second half of the decade.
Reportedly, the two phases together will create up to 5,000 new direct Micron jobs.
PM Modi’s US visit
The move comes as Prime Minister Narendra Modi met chief executives of several top American companies. He will be hosted at a state dinner in the White House on June 22. The US is reportedly pressing US chip companies to invest in India.
The US has been asking US-based companies to decrease the risks of doing business in China.
Apple, Google to ‘Make in India’
Apple is already making a chunk of its products, including iPhones in India. The Cupertino-based tech giant increased its production of iPhones in India — almost 7% of its total iPhone production, which is up from 1% in 2021.
Earlier this week, a report said that Google is in talks with suppliers to assemble its Pixel phones in India. Google CEO Sundar Pichai and Minister for Information Technology, Ashwini Vaishnaw met last month and reportedly the two talked about producing Google devices in the country.
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