Micron’s Semiconductor Unit in Gujarat to be Ready in 12 Months – News18

US chipmaker Micron’s formidable challenge to arrange a semiconductor unit in Gujarat is racing towards completion inside a exceptional 12-month timeframe.

The Union Cabinet greenlit the challenge in June, securing a colossal capital funding of Rs 22,516 crore with 50% fiscal assist from the federal government. The swift tempo of progress was evident because the groundbreaking ceremony passed off in Sanand, Gujarat, a mere three months after the approval, showcasing the federal government’s unwavering dedication to advancing India’s technological prowess.

Currently underneath development, the ATMP (Assembly, Testing, Marking and Packaging) facility is on observe to be accomplished inside simply 12 months. It will concentrate on producing reminiscence and storage merchandise, catering not solely to home calls for but additionally eyeing a worldwide market by way of exports.

This vital initiative is poised to create as much as 5,000 direct job alternatives and a further 15,000 oblique jobs over the subsequent 5 years, presenting a considerable enhance to employment prospects. Collaborative efforts between the India Semiconductor Mission, the Government of Gujarat, and the US firm goal to coach about 10,000 engineers, guaranteeing a talented workforce aligned with the business’s necessities.

Moreover, the challenge has attracted eager curiosity from over 30 ancillary industries specialising in gases, chemical compounds, tools, substrate manufacturing and associated fields, contemplating establishing their amenities in Gujarat, enriching the area’s technological panorama.

Wednesday marked a vital juncture as agreements have been formalised amongst Micron, India Semiconductor Mission, and the Government of Gujarat to make sure well timed challenge milestones and the facilitation of incentives.

Gurusharan Singh, Senior Vice-President for Micron, expressed gratitude for the steadfast assist from each the central and state governments, underscoring their pivotal position in propelling the challenge ahead. Meanwhile, Union Minister for Electronics & IT Ashwini Vaishnaw counseled the coordinated efforts between the Gujarat authorities, the Centre and the business, reaffirming the federal government’s dedication to nurturing India’s semiconductor manufacturing ecosystem. Chief Minister of Gujarat Bhupendra Patel emphasised on the worldwide significance of the challenge’s speedy improvement, positioning India as a key participant within the world semiconductor enviornment, and drawing worldwide consideration.

As per business insiders and consultants, as development progresses quickly, all eyes stay mounted on the upcoming completion of Micron’s semiconductor facility in Gujarat, poised to redefine India’s technological panorama and considerably influence world semiconductor manufacturing.