New Delhi [India], December 6 : Micron's ambitious semiconductor project in Sanand, Gujarat, is progressing at an accelerated pace, achieving significant milestones within a short span. The Union Cabinet, led by Prime Minister Shri Narendra Modi, approved Micron's semiconductor unit in India, with a substantial capital investment of Rs 22,516 crore (USD 2.75 billion) in June 2023.
According to a press release by the Ministry of Electronics and IT, this approval included 50 per cent fiscal support on a pari-passu basis. The groundbreaking ceremony for the unit took place in September 2023, merely three months after receiving approval.
Construction activities are in full swing, and the unit is anticipated to be completed within 12 months. The semiconductor facility aims to manufacture memory and storage products to meet both domestic and global demands.
The Micron project is not only contributing to technological advancements but is also set to generate significant employment opportunities.
It is projected to create up to 5,000 direct jobs and 15,000 indirect jobs over the next five years. In collaboration with the India Semiconductor Mission, the Government of Gujarat, and Micron, efforts are underway to train approximately 10,000 engineers through academic partnerships, read the press release.
The development has attracted more than 30 gasses, chemicals, equipment, substrate manufacturing, and other ancillary industries, currently in various stages of discussions to establish facilities in Gujarat.
Key agreements were signed today to ensure the project adheres to its milestones and for the disbursement of incentives. Gurusharan Singh, Senior Vice President for Micron, expressed his gratitude for the swift and continuous support from the central and state leadership, read the press release.
Union Minister of Railways, Communications, and Electronics & IT, Ashwini Vishnaw, commended the coordination among the Government of Gujarat and the industry.
He reaffirmed full commitment and facilitation for the development of the semiconductor manufacturing ecosystem in India, read the release.
Chief Minister of Gujarat, Bhupendra Patel, highlighted the global recognition of the project's rapid development, showcasing Gujarat's commitment to fostering technological advancements and economic growth.
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