Micron Technology is nearing a deal to invest $1 billion in a semiconductor packaging plant in India, according to people familiar with the matter. The move would mark a major win for Prime Minister Narendra Modi’s “Make in India” campaign, as well as a boost for the US chip industry, which is facing growing competition from China.
The plant would be located in the southern Indian state of Karnataka, and would create up to 1,000 jobs. Micron is expected to make a final decision on the investment in the coming weeks. The deal is a sign that Micron is looking to expand its global manufacturing footprint in response to rising trade tensions between the US and China. China is currently the world’s leading producer of semiconductors, but the US government has been concerned about the country’s growing dominance in the industry.
The US government has imposed tariffs on Chinese semiconductors, and has also been urging US companies to diversify their supply chains away from China. Micron’s investment in India would help to address these concerns. The plant would be Micron’s first in India. The company currently has a manufacturing facility in Singapore, and is also building a new plant in Malaysia.
The investment in India is a major boost for Modi’s “Make in India” campaign. The campaign aims to attract foreign investment and manufacturing jobs to India.
The semiconductor industry is a key target for the campaign. India is currently a major consumer of semiconductors, but it produces very few of them domestically.
The investment by Micron is a sign that the “Make in India” campaign is starting to pay off. It is also a sign that the US is serious about diversifying its chip supply chains away from China.
About Micron Technology
Micron Technology is an American multinational corporation that provides semiconductor systems, products, and solutions. The company is headquartered in Boise, Idaho, and has operations in North America, South America, Europe, and Asia.
Micron is a leading provider of memory and storage solutions. The company’s products are used in a wide variety of applications, including smartphones, tablets, computers, servers, and networking equipment.
Micron is a Fortune 500 company and is listed on the Nasdaq Stock Exchange.