Gujarat Government Inks Historic MOU with Micron Technology Surge of 20,000 Jobs is expected

During a recent meeting between the Prime Minister of India and the President of the United States of America, important developments were announced. MicroTech, a technology company, plans to establish a plant in Gujarat, India, with an investment of INR 22,516 crore. Additionally, as part of the US-India program, a new initiative worth $10 billion will be taken in the semiconductor industry.

This program aims to boost India’s global semiconductor supply chain manufacturing and contribute to a self-reliant India. The Indian government has recently announced the Semiconductor FAB Program under this initiative. The meeting between the Prime Minister and the US President emphasized the significance of MicroTech’s contribution in setting up a semiconductor assembly, testing, marking, and packaging (ATMP) facility in India. The announcement was made by the American President during the meeting, indicating the strong support and collaboration between the two countries.

MicroTech, through an investment of $2.75 billion (approximately INR 22,500 crore), will initiate the establishment of the ATMP facility in Sanand, Gujarat, following the successful outcome of the meeting between Prime Minister Narendra Modi and the United States of America. MicroTech, a prominent semiconductor manufacturing company globally, signed a historic MoU with the Gujarat government in Gandhinagar, symbolizing their advancement in the semiconductor production sector. This collaboration signifies significant progress in semiconductor manufacturing and highlights the fruitful outcome of the Prime Minister’s meeting with the United States.

A surge of 20,000 jobs is expected due to the signing of the MoU, which was inspired by the presence of Chief Minister Bhupendra Patel and Union Minister of Information Technology Ashwini Vaishnaw. The MoU was signed by Gujarat’s Secretary of Science and Technology, Vijay Nehra, and Gursharan Singh, Senior Vice President of MicroTech, under the encouragement of the Gujarat government. The initiative aims to establish a robust manufacturing infrastructure, create a favorable environment for industries and trade, and leverage the state government’s excellent support to facilitate the achievement of the Talent Pool. Keeping these crucial aspects in mind, MicroTech has chosen Gujarat to initiate its manufacturing facility.

Under the leadership and guidance of Chief Minister Bhupendra Patel, the Gujarat Semiconductor Policy 2022-27 was announced in September of the previous year. This policy, which strengthens the efforts of the central government to make India self-reliant in the semiconductor sector, positions Gujarat as the leading state in the country.

The policy emphasizes the establishment of a robust domestic semiconductor manufacturing ecosystem in the state, giving special importance to accelerating the growth of the industry and providing all necessary support. In order to attract and facilitate the semiconductor industries in Gujarat and provide essential cooperation, the state government has established a dedicated institution called the “Gujarat State Electronic Mission (GSEM).” The establishment of this project will bring significant changes to the semiconductor manufacturing sector in India. It is expected to create 20,000 jobs, including 5,000 direct and 15,000 indirect employment opportunities.

The MoU between the Government of Gujarat and Micron Technology holds immense significance for the country. It not only reinforces the semiconductor ecosystem in Gujarat but also attracts ancillary industries for raw materials and finished products. The domestic semiconductor ecosystem in Gujarat will benefit from the accelerated growth of complementary industries as well. The Gujarat Industrial Development Corporation has developed 45,000 hectares of land with plug and play facilities. Micron has chosen the Sanand GIDC-II for its new ATMP facility. Sanand GIDC is a highly industrialized zone that hosts numerous renowned national and international manufacturing industries.

Micron Technology Incorporated is the largest semiconductor memory IDM (Integrated Device Manufacturing) company in the United States. It excels in manufacturing memory chip devices for mobile, computer, data center, and high-performance computing applications. The company’s headquarters is located in the city of Boise, Idaho. In 2022, Micron recorded revenues of $30.8 billion. Micron operates actively in the United States, Japan, Taiwan, and China, with a total of 11 production facilities across these countries.

Akash Shrivastav

My name is Akash Shrivastav, and I am a Blogger. I have 8 years of experience in blogging for Finance, Business, Investment, Stock Market, Cryptocurreny and more. Through my writing, I aim to provide readers with insightful and informative content.