 "Gujarat govt signs MoU with Micron to set up India's first semiconductor plant")
India’s first semiconductor chip manufacturing unit will be set up in Gujarat’s Sanand as the state government signed a Memorandum of Understanding (MoU) with Micron Technology. The two parties have signed a deal worth $2.75 billion. The MoU was signed in the presence of Electronics & Information Technology Minister Ashwini Vaishnaw and Chief Minister Bhupendra Patel, a government release said. “Semiconducter is a foundational industry. It is used in a number of items like television screens, computers, mobile, cars and even trains,” Vaishnaw said.
VIDEO | "India's first chip (semiconductor) manufacturing plant will be set up in Sanand (Gujarat) by Micron Technologies," says Union Minister Ashwini Vaishnaw. pic.twitter.com/83kkzLqrhF
— Press Trust of India (@PTI_News) June 28, 2023
A government release said that India has been dependent on the import of semiconductor chips and the demand for them will increase as the manufacturing sector in the country grows. The plant at Sanand will entail a total investment of USD 2.75 billion (around Rs 22,540 crore), it added.
#WATCH | Union Minister for Communications, Electronics & Information Technology Ashwini Vaishnaw gives a demo of complex, precision semi-conductor tech which Micron Technology is bringing to India. pic.twitter.com/wk6WVa2VWk
— ANI (@ANI) June 26, 2023
Micron’s plant has been approved under the Union government’s `Modified Assembly, Testing, Marking and Packaging (ATMP) Scheme’. Micron Technologies will receive 50 per cent fiscal support for the total project cost from the Indian government and incentives representing 20 per cent of the total project cost from the Gujarat government under the deal. Read all the Latest News , Trending News , Cricket News , Bollywood News , India News and Entertainment News here. Follow us on Facebook_,_ Twitter and Instagram_._
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