According to Sanjay Mehrotra, CEO of Micron Technology, who was speaking on Friday at the annual semiconductor conference in Gujarat, the chips produced in Micron’s plant in Gujarat would be distributed to clients both in India and beyond.
“I’m honored to be in Gujarat today to speak on behalf of the company’s dedication to constructing a semiconductor testing facility. It is a first for India and the first significant investment by a semiconductor business in the country, “During the Semicon India 2023 event, Mehrotra stated.
The CEO added that Micron is pleased with its ability to quickly assemble a group of more than 3,000 engineers in India.
More than 40,000 people work with Micron today around the globe. We are proud of the more than 3,000 people on our team in India, where we have operations in 17 different nations “Furthermore, he said.
The products developed by engineers, IT systems, and operations in Hyderabad and Bangalore, he continued, have given Micron more confidence that it would be able to effectively manage its assembly plant in India.
Moreover, according to Mehrotra, the Gujarat factory is expected to generate up to 5,000 employment.
“With an extra 15,000 employment in the surrounding community, we predict that our project in Gujarat would generate close to 5000 direct jobs. We are optimistic that this commitment would encourage other investments in the sector.
He said the Made in India and digital India initiatives are generating a really revolutionary momentum that will continue to fuel forward movement.
The US chip manufacturer had earlier on June 22 announced plans to invest up to $825 million in Gujarat, India, for its first chip manufacturing and testing plant.
The facility would get a total investment of $2.75 billion with help from the Center and the Gujarat government, according to Micron.
Aswini Vaishnaw, the minister of information technology, also mentioned during the conference that work on the Micron plant in Gujarat will soon begin.
According to the CEO of Micron, work on the plant in Gujarat is scheduled to begin in 2023. He stated that the project’s initial phase is anticipated to go into operation in late 2024.
According to him, a subsequent phase of the project should begin in the second half of the decade.
Now, multinational corporations have started taking India seriously as a semiconductor investment location. India has been promoting itself as a desirable location for semiconductors and electronics.
India proposed a $10 billion incentive package for the chip industry in 2021, but the scheme has failed since no business has yet been able to obtain approval for building a fabrication factory, the keystone of Modi’s objectives.
In 2021, the Indian semiconductor industry was estimated to be worth $27.2 billion. It is anticipated to expand at a strong CAGR of around 19% to reach $64 billion in 2026. But, India hasn’t yet produced any chips domestically.
