Optical & Fixed Networks

India green-lights $1.3 billion package for Micron plant

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Category: Optical & Fixed Networks
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India green-lights $1.3 billion package for Micron plant

The Indian government approved chip manufacturer Micron Technology’s plan to build a US$2.7 billion semiconductor packaging and testing facility in West India.

Reuters reported, the government agreed to incentives linked with production worth INR110 billion ($1.34 billion) for the plant, which will be built in the state of Gujarat.

Approval from the cabinet was needed due to the sheer size of the incentive package, a source told Reuters.

Micron was banned from operating in China, but last week the company committed to investing CNY4.3 billion (US$598 million) to setting up a new production line in the country.

Reuters ported Micron’s plans come as the US pressures home-grown chip manufacturers to invest in India to decrease the supposed risks that come with operating in China.



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