June 28th 2023.
The Gujarat government is all set to sign a Memorandum of Understanding (MoU) with Micron Technology, a leading semiconductor chip making company based in the United States, on Wednesday in the presence of the State Chief Minister Bhupendra Patel.
This MoU aims to establish a semiconductor assembly and test facility at Sanand in the Ahmedabad district. Micron Technology had previously announced its plans to set up this plant in Gujarat on June 22 with an estimated investment of USD 2.75 billion.
The joint statement issued by Prime Minister Narendra Modi and US President Joe Biden on Sunday acknowledged the signing of the MoU on Semiconductor Supply Chain and Innovation Partnership as a significant step in coordinating the semiconductor incentive programs of both countries.
This MoU is expected to create a number of commercial opportunities, research initiatives, talent development and skill enhancement opportunities. As part of this collaboration, Micron Technology, Inc. has committed to investing up to $825 million in building a new semiconductor assembly and test facility in India, with support from the Indian government.
The combined investment of $2.75 billion is projected to create around 5,000 direct jobs and offer 15,000 community job opportunities over the next five years. Other initiatives in the semiconductor industry were also highlighted in the joint statement. Lam Research, a global leader in semiconductor manufacturing equipment, has proposed to train 60,000 Indian engineers through its Semiverse Solution virtual fabrication platform to accelerate India's semiconductor education and workforce development goals. Additionally, Applied Materials, Inc. has announced a $400 million investment to establish a collaborative engineering center in India.
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