Chip maker Micron to invest $2.7 billion for plant in Gujarat

Union Minister for Communications and IT Ashwini Vaishnaw announced that the first chips manufactured in India are anticipated to be launched by December 2024. Within a year, the country aims to establish around 4-5 semiconductor plants. The necessary preparations for the Micron semiconductor plant in Gujarat, including land allocation, factory design work, and tax compliance agreements, have been completed.

The Micron plant will require a total investment of USD 2.75 billion, with Micron contributing USD 825 million and the government covering the remaining amount in two phases. Construction of the facility is scheduled to begin in 2023, with the first phase, encompassing 500,000 square feet of clean room space, expected to be operational by late 2024. Over the coming years, Micron estimates that the plant will generate up to 5,000 direct jobs and 15,000 community jobs.

This announcement marks a significant milestone in India’s endeavors to strengthen its domestic semiconductor manufacturing capabilities and reduce reliance on imports in this crucial sector.