US CHIPMAKER SEEKS POLICY RELOOK
Micron Technology, a $30-billion US-based semiconductor manufacturer, has flagged concerns with India’s tax regime, stating that it throws up “unexpected surprises” and is “not aligned with global Outsourced Semiconductor Assembly and Test (OSAT) practices”.
The company has said that recent changes made in the taxation regime have raised a “cloud of uncertainty” with regard to cost of doing business and urged the government to relook at taxation for the electronics sector.
The statement made by Gursharan Singh, senior vice president, global assembly and test, Micron Semiconductor Asia Operations, is significant as the company is a front-runner to participate in the government’s $10-billion domestic semiconductor manufacturing scheme. He made the comments last week at the India-US Initiative on Critical and Emerging Technologies (iCET) dialogue, organised by the Confederation of Indian Industry.
The iCET dialogue, which was jointly launched by India and the US in Washington in January, covers several critical and emerging technology areas such as semiconductor supply chains, defence, space, telecommunications and artificial intelligence and quantum technologies.
This story is from the June 19, 2023 edition of Financial Express Mumbai.
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This story is from the June 19, 2023 edition of Financial Express Mumbai.
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