The new semiconductor facility by US-based Micron Technology in Gujarat will benefit the sector in reducing imports of memory chips worth Rs 1 trillion. Vaishnaw stated during the signing of the MoU (memorandum of understanding) between the Gujarat government and Micron that "In India, we import chips worth Rs 3 trillion, of which Rs 1 trillion are imports of memory chips made by firms like Micron. An important first step towards India becoming completely self-sufficient in memory chips is this MoU agreement.
Micron received official approval from the Gujarati government to build its Assembly, Testing, Marking and Packaging (ATMP) facility in Sanand. The project will cost a total of $2.75 billion, of which the central government would pay 50% and the Gujarati government 20%.
"We are dedicated to working with our suppliers and supply chain partners to establish business practises that will promote sustainable operations. The signing of the Memorandum of Understanding is a crucial milestone in Micron's efforts to diversify its production base and support its international clients, according to Gursharan Singh, senior vice president of Micron Technology.
In order to build talent for India's semiconductor ecosystem, Micron is also aiming to collaborate with academic institutions. "India will soon turn into a centre for semiconductors. The variables that are making India a more dominant participant in the semiconductor industry are talent, reduced costs, and green energy, according to Vaishnaw.
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