Micron Technology's plans come as the White House presses US chip companies to invest in India with talks ongoing about possible further investments Micron Technology announced on Thursday an investment of more than $800 million, which together with additional financial support from Indian authorities, will amount to a $2.75-billion semiconductor assembly and test facility in India.
The announcement comes during Prime Minister Narendra Modi's first state visit to the US at the invitation of President Joe Biden.
Of the $2.75 billion, 50% will come from the Centre and 20% from Gujarat government.
Micron said construction of the new facility in Gujarat is expected to begin in 2023 and the first phase of the project will be operational in late 2024. A second phase of the project is expected to start toward the second half of the decade, it said. The two phases together will create up to 5,000 new direct Micron jobs.
Also, US Applied Materials announced the new semiconductor centre for commercialisation and innovation in India and Lam Research, another semiconductor manufacturing equipment company is going to announce a training programme for 60,000 Indian engineers through its semi-verse solution to accelerate India's semiconductor workforce development goals.
Micron Technology's plans come as the White House presses US chip companies to invest in India with talks ongoing about possible further investments, US administration officials told Reuters.
Biden wants domestic companies to decrease the risks of doing business in China while better integrating the US. economy with that of the world's largest democracy, one US official told Reuters.
China in May said Micron had failed a security review and barred operators of key domestic infrastructure from purchasing products from the United State's biggest memory chipmaker, angering the Biden administration.