New Delhi: The Government of India has approved a $2.7 billion plan by US chipmaker Micron Technology to set up a semiconductor testing and packaging unit in the country. The plant, which is set to be built in the state of Gujarat, will create over 3,000 jobs.
The approval is a major boost for India’s efforts to become a global hub for semiconductor manufacturing. The country currently imports most of its semiconductors, and the government is keen to reduce its dependence on foreign suppliers.
The Micron plant is expected to be operational by 2025. It will be the first major semiconductor manufacturing plant to be set up in India in over two decades. The approval of the Micron plant is a sign of the growing confidence of global investors in India’s semiconductor industry. The government has taken a number of steps in recent years to attract investment in the sector, including providing tax breaks and other incentives.
The Micron plant is expected to have a ripple effect on the Indian economy. It will create jobs, boost exports, and help to attract other semiconductor companies to the country. It will create jobs and boost the economy, reduce India’s dependence on foreign suppliers, attract other semiconductor companies to the country, and will help to make India a global hub for semiconductor manufacturing.