Micron Technology, Inc. is set to begin construction for its semiconductor testing and assembly plant in Sanand, Gujarat. This comes three months after the company announced its plans for India. The project marks the largest investment under the India Semiconductor Mission, with a proposed investment of $2.75 billion. While Micron will contribute $825 million, the remaining will be covered by the subsidies.
According to Ashwini Vaishnaw, Union Minister for Railways, Communications, Electronics and Information Technology (IT), the first made-in-India chips are expected to roll-out by December 2024. The plant’s ecosystem partners have already identified potential locations for their facilities and have begun training and hiring processes. The project is expected to generate up to 5,000 direct Micron jobs and 15,000 community jobs in the coming years.
Under the modified assembly, testing, marking, and packaging (ATMP) scheme, Micron will receive fiscal support from the central government amounting to 50 per cent of the total project cost and incentives representing 20 per cent of cost from the government of Gujarat. However, Micron’s investment in ATMP is expected to attract other companies to India as well.
Furthermore, according to Rajeev Chandrasekhar, Minister of State for Electronics and IT, Micron is aiming to set up multiple semiconductor assembly and packaging units in India, complementing the fabrication unit.