US Chipmaker Micron Signs MoU for First India Facility in Gujarat – News18

US chipmaker Micron Technology on Wednesday signed a memorandum of understanding (MoU) with the Centre to assemble its first semiconductor plant within the nation.

The settlement, signed in Gandhinagar within the presence of Chief Minister Bhupendra Patel and Union IT Minister Ashwini Vaishnaw, marks a big milestone.

“In the august presence of CM Shri @Bhupendrapbjp and Union IT Minister Shri @AshwiniVaishnaw, an MoU has been signed at Gandhinagar between Gujarat Govt and US-based chip manufacturing large @MicronTech for setting-up ATMP facility at Sanand with an funding of US$ 2.75 billion i.e. over ₹22,500 crore,” the Gujarat Chief Minister’s Office (CMO) tweeted.

Micron said last week it will invest up to USD 825 million in the facility. With support from the Indian central government and the state of Gujarat, the total investment will be USD 2.75 billion, it added.

The facility will be constructed in Sanand, near the city of Ahmedabad in Gujarat.

This MoU was signed less than a week after Prime Minister Narendra Modi’s landmark visit to Washington, which witnessed a slew of agreements with the US, including some in the field of technology.

During his visit, Modi and President Joe Biden participated in a key event at the White House which saw the participation of leading Indian and American CEOs of tech companies and startups.

In his remarks, Prime Minister underlined the immense potential of harnessing India-US tech cooperation for socio-economic growth.