By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
News HonourNews Honour
Reading: Micron plans to set up more chip units in India: Rajeev Chandrasekhar | Mint – Mint
Share
Notification Show More
Aa
Aa
News HonourNews Honour
Have an existing account? Sign In
Follow US
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
News Honour > Blog > Latest News > Micron plans to set up more chip units in India: Rajeev Chandrasekhar | Mint – Mint
Latest News

Micron plans to set up more chip units in India: Rajeev Chandrasekhar | Mint – Mint

A P
Last updated: 2023/09/19 at 7:08 AM
By A P 5 Min Read
Share
SHARE

NEW DELHI : Micron Technology Inc. intends to build several semiconductor assembly and packaging units in India in addition to its proposed fabrication unit, minister of state for electronics and information technology Rajeev Chandrasekhar said, as the US-based company takes a long-term view of the country as a market and manufacturing destination for semiconductors.
The minister said Micron’s first investment in India catalyzed the transition of fence sitters willing to consider the country as a serious part of their semiconductor assembly and eventually manufacturing plans; therefore, it was in the government’s interest to ensure that the company’s first plant is operational and functional at the earliest.
“If this first big investment by Micron is successful—and it is our job and duty to make it successful—two things happen as a consequence. One, it acts as a beacon for other companies and other investments to come to Dholera or anywhere else. Second, those who come to India see the value in growing what they already have to reach even higher levels of scale. So, from a point of view, it is certainly a possible roadmap for growth. He’s absolutely right, and we’re absolutely clear about that in our mind,” the minister said in an interview last week.
The minister was referring to Micron chief executive officer Sanjay Mehrotra’s comments at the Semicon India 2023 in July that the semiconductor and packaging major will undertake the next phase of its expansion in the second half of the decade. The company has announced an investment of $800 million to set up a semiconductor assembly, testing, marking and packaging (ATMP) unit in Gujarat’s Sanand. Officials aware of the company’s plans said more such units would come up after the first one becomes operational.
“We’ve created the policy framework and got a global major that will start with packaging and potentially can go into fabs in the organic four to five years,” the minister said. He added that the government was talking to all entities in the semiconductor market, noting engagement levels had risen multifold from those which were previously not keen on India to be actively interested and participate in discussions.
He went on to add that fabs, including packaging units, typically come up in large numbers in areas where they’re first set up, giving the example of Malaysia and Japan, which have become ATMP hubs triggered by investments from single companies over the years. “If you look at the history of how fabs and packaging units have developed anywhere in the world, they start with one, and unless something terribly bad happens in the environment or the government policies, they almost always get into an expanding to multi-factory, multi-fab, multi-packaging unit, large complexes,” he said.
The government is giving financial assistance of about $1.95 billion to Micron, taking the total investment into the project to $2.75 billion. Construction of the facility is expected to begin this year, and the first phase of the project will be operational in late 2024.
The government has publicly said that the first chip from India is expected to be out by December 2024.
The second phase, set to start in the latter half of the decade, will create as many as 5,000 new direct jobs at Micron together with the first phase.
Download the Mint app and read premium stories
Log in to our website to save your bookmarks. It’ll just take a moment.
You are just one step away from creating your watchlist!
Oops! Looks like you have exceeded the limit to bookmark the image. Remove some to bookmark this image.
Your session has expired, please login again.
You are now subscribed to our newsletters. In case you can’t find any email from our side, please check the spam folder.
This is a subscriber only feature Subscribe Now to get daily updates on WhatsApp

source

You Might Also Like

Type 2 diabetes: How testosterone therapy can help manage condition – Medical News Today

How 3 physicists froze time for a peek at electron dynamics – Hindustan Times

Centre bans insurgent outfits NLFT, AAFT under UAPA – Hindustan Times

India police search journalists' homes and offices in the country's … – CP24

India 'Threatens' Canada Over Nijjar Killing Spat; Wants 40 Diplomats Kicked Out – Hindustan Times

A P September 19, 2023 September 19, 2023
Share This Article
Facebook Twitter Email Print
Previous Article Congress unveils six guarantees for poll-bound Telangana – Hindustan Times
Next Article PM opens Yashobhoomi, ₹13k-cr plan for workers – Hindustan Times
Leave a comment

Leave a Reply Cancel reply

Connect with:
Facebook Google Twitter

Your email address will not be published. Required fields are marked *

Stay Connected

Facebook Like
Twitter Follow
Youtube Subscribe
Telegram Follow
- Advertisement -
Ad image

Latest News

Type 2 diabetes: How testosterone therapy can help manage condition – Medical News Today
Latest News
McDonald’s and Wendy’s win false advertising lawsuit – CNN
Business
ePlus Launches its Proprietary Compromise Nothing Security … – PR Newswire
Business
News you need: Wednesday, October 4, 2023 | Mississippi Business … – Northeast Mississippi Daily Journal
Business
Newshonor © 2023. All Rights Reserved.
adbanner
AdBlock Detected
Our site is an advertising supported site. Please whitelist to support our site.
Okay, I'll Whitelist
Welcome Back!

Sign in to your account

Register Lost your password?