By TIOL News Service

NEW DELHI, DEC 07, 2023: UNION Cabinet led by Prime Minister Narendra Modi had approved the proposal of Micron for setting up a semiconductor unit in India with capital investment of Rs.22,516 crore (2.75 billion dollars) in June 2023, providing 50 per cent fiscal support on pari-passu basis. Ground breaking of the unit at Sanand, Gujarat was done within 3 months in September 2023.

Construction of the unit is going on in full swing and is expected to be completed in about 12 months. The memory and storage products manufactured in this unit will cater to domestic consumption and be exported globally. 

The unit is expected to create up to 5 thousand direct and 15 thousand indirect job opportunities over the next 5 years. India Semiconductor Mission, Government of Gujarat and Micron are working collaboratively in close association with academia to train about 10 thousand engineers. 

More than 30 gasses, chemicals, equipment, substrate manufacturing and other ancillary industries are in various phases of discussion for setting up facilities in Gujarat. 

Agreements for ensuring project milestones are met timely and for disbursement of incentives were signed today among Micron, India Semiconductor Mission and Government of Gujarat.

Gurusharan Singh, Senior Vice President for Micron expressed his happiness on the swift and constant support provided and thanked the leadership at the Centre and State Government.  

Speaking on this occasion, Union Minister of Railways, Communications and Electronics & IT Ashwini Vishnaw commended the coordination among Government of Gujarat, Government of India and the industry. He assured full commitment and facilitation for the development of semiconductor manufacturing ecosystem in India. 

Chief Minister of Gujarat Bhupendra Patel shared that the rapid pace of development in this project is being discussed around the globe.