Government's decision ahead of PM Modi US visit, approval for 2.7 billion dollar Micron chip testing facility
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A government source said the Indian government will also offer production-linked incentives worth 110 billion rupees (1.34 billion dollar) to American company Micron Technology.
Ahead of Prime Minister Narendra Modi's visit to the US, the Union Cabinet has approved the setting up of Micron Technology's $2.7 billion semiconductor test and packaging plant. Giving this information on Tuesday, a government source said that this plant will be set up in Gujarat, the home state of Prime Minister Modi.
The source, on the condition of anonymity, also said that the Indian government will also give production-linked incentives of 110 billion rupees ($ 1.34 billion) to the American company Micron Technology. In this matter, an attempt was made to get information about this from the spokesperson of Micron and the Government of India including the Ministry of Information, but no response was given from anyone's side.
According to media reports, this deal will boost chip technology and its manufacturing in India. Because India is focusing on technology transfer for chip manufacturing. At the same time, America wants to diversify its supply chains. Earlier reports claimed that a billion dollar deal could be signed with Micron to set up a semiconductor packaging plant during PM Modi's US visit.
Micron CEO lauds PM Modi's vision for technological advancement
Recently Sanjay Mehrotra, CEO of Micron Technology, praised PM Modi's vision for India's technological progress. In a video, Sanjay Mehrotra said that he is looking forward to the state visit of PM Modi and he will be warmly welcomed. He said, we see a lot of potential in India as part of our global footprint. Indians have left their mark in every field, be it in private sector, education or government enriching the cultural fabric of countries across the world. He further said that Prime Minister Modi's work is appreciated for building India's economy by investing in the skills of the youth.
