- Micron aims to set up three to four chip fabrication units in India
- The company will create thousands of jobs and expand its global manufacturing base while focusing on domestic and international market
Micron Technology has announced its $2.75 billion semiconductor testing and assembly plant in Gujarat’s Sanand. This initiative has been taken under the India Semiconductor Mission (ISM). Micron will contribute $825 million, and subsidies will cover the rest.
With an agenda to start a chip manufacturing ecosystem in India, ISM has raised a $10 billion fund, where it will offer subsidies to companies. Micron’s announcement will attract more companies in India to invest in chip fabrication plants.
Micron also plans to set up three to four domestic chip fabrication units. Micron’s Gujarat facility will be helpful for employment also. The company will create thousands of jobs and expand its global manufacturing base while focusing on domestic and international market demand.
Phase 1 construction will commence this year, with gradual capacity expansion aligned with global demand. Phase 2 is expected to begin in the latter half of the decade. Micron will receive fiscal support from the central government and Gujarat under the ATMP scheme. The plant may operate by late 2024.
Other approved projects include Tata Semiconductor Assembly and Test, investing Rs 200 crore in Karnataka and Lam Research India, investing Rs 235.91 crore in Bengaluru.
This initiative represents a significant step in India’s semiconductor industry, with the first made-in-India chips anticipated by December 2024.
Developing domestically produced semiconductor chips is a significant milestone, as it can reduce the country’s dependency on imported chips and boost its technological self-reliance.