Gujarat's government will sign an agreement with Micron Technology for a semiconductor plant in Sanand

A Memorandum of Understanding between the Gujarati government and Micron Technology, a major American manufacturer of semiconductor chips, is about to be signed. The State Chief Minister, Bhupendra Patel, will be present at the signing event. A semiconductor assembly and testing facility would be built at Sanand in the Ahmedabad district as a result of the MoU.

On June 22, Micron Technology revealed its intentions to build a semiconductor assembly and testing facility in Gujarat. The anticipated total investment for this project is USD 2.75 billion (about Rs 22,540 crore). The signing of the Memorandum of Understanding on Semiconductor Supply Chain and Innovation Partnership was recognised in a joint statement by Prime Minister Narendra Modi and US President Joe Biden as a crucial step in coordinating the semiconductor incentive programmes of both nations.

This partnership is anticipated to increase business prospects, research projects, talent development, and skill development. As part of this partnership, Micron Technology, Inc. has agreed to provide funding from the Indian government in the amount of up to $825 million to develop a new semiconductor assembly and test facility in India. Over the following five years, it is anticipated that the total $2.75 billion investment will generate about 5,000 direct jobs and provide 15,000 community work opportunities.

Other significant semiconductor industry initiatives were also noted in the joint statement. In order to further India's aims for semiconductor education and workforce development, Lam Research, a leading provider of semiconductor manufacturing equipment, has proposed to train 60,000 Indian engineers using their Semiverse Solution virtual fabrication platform. A $400 million investment has also been made public by Applied Materials, Inc. for the construction of a collaborative engineering hub in India.