Piyush Goyal Meets Micron CEO Sanjay Mehrotra, Discusses $2.75-Billion Investment Plan

During PM Narendra Modi's state visit to the US, Micron, the prominent US-memory chipmaker, announced its plans to establish a $2.75-billion semiconductor assembly and test facility in the country

Semiconductor giant Micron Technology CEO Sanjay Mehrotra on Monday met with Union Minister of Commerce and Industry Piyush Goyal to discuss the company's investment plans in the country. The meeting comes ahead of 3 days Semicon India 2023 conference in Gandhinagar, Gujarat being organised by India Semiconductor Mission which will see the participation of some of the big names in the semiconductor industry. 

Micron's CEO's meeting Goyal focused on Micron's plans to build a $2.75-billion semiconductor assembly and testing plant in Gujarat. 

In a tweet, Minister of Commerce and Industry Piyush Goyal said, "Met Sanjay Mehrotra, President & CEO of Micron Technology. Discussed Micron’s recent investment plans in the country and how India’s growing semiconductor ecosystem is poised to make it one of the global leaders in the sector."

During Prime Minister Narendra Modi's state visit to the US, Micron, a prominent US-memory chip company, announced its plans to establish a new semiconductor assembly and test facility in the country. Micron's investment will be up to $825 million over the two phases of the project and will create up to 5,000 new direct Micron jobs and 15,000 community jobs over the next several years.

Micron will receive incentives under the government's 'Modified Assembly, Testing, Marking, and Packaging (ATMP) Scheme,' which includes receiving 50 per cent fiscal support for the overall project cost. Additionally, the Gujarat government will provide incentives amounting to 20 per cent of the total project cost.

The total investment spans two phases. Micron's facility will facilitate assembly and test manufacturing for DRAM and NAND products, catering to the growing demand from both domestic and international markets.

The construction of the facility in Gujarat is reportedly expected to begin in 2023. 

Micron CEO Sanjay Mehrotra will also address the second edition of Semicon India scheduled between July 28-30, 2023. The event will be inaugurated by Prime Minister Narendra Modi.