New Delhi: Micron Technology is about to finalize its mega deal to invest a substantial amount of capital to the tune of $1 billion to set up a state-of-the-art chip packaging facility in India.
Micron Technology, a US-based computer memory and USB flash drive producer, is planning to invest bulk in India to enhance its domestic chip manufacturing capabilities, Bloomberg reported on Friday.
Sources familiar with the matter said the interested investment by the tech company potentially reaches $2 billion, showing the scale and importance of Micron’s involvement in India’s semiconductor sector.
India is actively looking to strategically collaborate and attract investments from global technology giants to establish a strong semiconductor ecosystem. The substantial investment in Micron technology reflects the growing confidence in India’s potential as a manufacturing hub for advanced semiconductor technologies.
By deciding to invest in the country, Micron will not only be beneficial in enhancing the country’s capabilities in chip manufacturing but also create employment opportunities and spur technological innovation in the region.
The investment from Micron Technology is fully in line with the stated “Make in India” initiative of the Government of India, which aims to transform the country into a global manufacturing hub in electronics as well as semiconductors in various sectors.
The Union Cabinet is expected to soon announce Rs 25,000 crore worth of semiconductor manufacturing in India.