AFTER ASSEMBLY & PACKAGING FACILITY...
AFTER ANNOUNCING ITS plan to set up a chip assembly and packaging facility in India, Micron Technology will next establish a semiconductor manufacturing unit in the country as part of a natural evolutionary process, communications and IT minister Ashwini Vaishnaw told FE in an interview on Friday.
Once that happens the company will have an end-to-end semiconductor manufacturing chain in India. This would be a major development as currently Micron has chip manufacturing units at only two locations: Japan and China.
Speaking a day after the US-based firm announced its plans to set up a $2.75-billion chip packaging (assembly, testing, marking, packaging) unit in the country, Vaishnaw said the first made-in-India chip under the project will be rolled out by December 2024, and annual production worth $1 billion is expected once the plant is fully operational.
He also said that six more semiconductor projects will come up in the next one year.
Separately, Vaishnaw said that very soon some global information technology majors will also announce investments under the modified IT hardware production-linked incentive scheme.
This story is from the June 24, 2023 edition of Financial Express Mumbai.
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This story is from the June 24, 2023 edition of Financial Express Mumbai.
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