Micron CEO meets Modi in US, says greater opportunities exist in India – Deccan Herald
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Sanjay Mehrotra, the CEO of Micron Technology, said on Thursday that the company is anticipating “greater opportunities” in India following an “excellent” meeting with Prime Minister Narendra Modi. This statement comes amid rumors that the Union Government has approved a plan for the US chipmaker to establish a semiconductor testing and packing facility in India.
Mehrotra commended the Prime Minister’s vision for India and the advancements that the nation is making in a number of fields. Mehrotra and Modi met at the posh Willard Intercontinental Hotel in Washington, D.C., which is only a few hundred yards from the White House.
The meeting takes place in the wake of news that India approved Micron’s over Rs 20,000 crore investment to launch a semiconductor testing and packaging facility under the Union Government’s Rs 76,000 production-linked incentive (PLI) plan for the industry.
After the supply chain ran into several problems, including the Covid-19 lockdown in China, the government created the PLI program in 2021 to court key semiconductor manufacturers throughout the world.
“Micron is a leader in memory and storage on a global scale, and we supply memory and storage to all end markets, including data centers, smartphones, PCs, and today’s incredibly powerful AI engine. We are enthusiastic about the possibilities for memory and storage in the future,” Mehrotra told reporters after meeting Modi.
Vedanta and Foxconn have submitted an application for a joint venture in Gujarat under the PLI framework. According to sources, Gujarat continues to be the front-runner for hosting Micron’s unit in India, despite competition from other states like Tamil Nadu.
In the past year, several state governments have urged Samsung and Taiwan Semiconductor Manufacturing Company (TSMC) to invest in India’s semiconductor industry. Four states, including Tamil Nadu, Karnataka, and Telangana, are vying for semiconductor manufacturing opportunities, including domestic company Tata Electronics Private Limited (OSAT division).
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