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  • Writer's pictureRaj

80,000 New Jobs in India | Micron to Start Production by December 2024 India-US Semiconductor Deals

The Indian government announced on Friday that the first Made-in-India semiconductor chips are expected to be rolled out by December 2024. This development marks a significant milestone in the country's journey to gain resilience in electronics manufacturing.

80,000 New Jobs in India | Micron to Start Production by December 2024 India-US Semiconductor Deals

Communications Minister Ashwini Vaishnaw expressed his appreciation for the investment made by American company Micron, recognizing it as a crucial step in achieving this goal. The investment is set to create over 80,000 new jobs, significantly boosting the Indian economy.

The Arrival of Made-in-India Semiconductor Chips

Micron, a renowned computer storage chip maker, has revealed plans to establish its semiconductor assembly and test plant in Gujarat. The total investment for this project amounts to $2.75 billion (approximately Rs 22,540 crore). The plant is expected to generate up to 5,000 new direct jobs and 15,000 community jobs over the next few years.

Government Approval for Micron's Investment

In preparation for Prime Minister Narendra Modi's visit to the United States, the Indian Union cabinet approved Micron's investment of Rs 22,500 crore ($2.7 billion).

The investment will facilitate the establishment of a state-of-the-art semiconductor unit in India. Micron, one of the world's leading semiconductor companies, aims to capitalize on the tremendous potential and opportunities offered by the Indian market.

Progress in Setting Up the Micron Plant

The essential groundwork for the Micron plant in Gujarat has been completed, including land allocation, factory design work, and tax compliance-related agreements. The first Made-in-India chip from Micron is projected to be ready for production in approximately six quarters.

The completion of this plant signifies India's growing presence in the semiconductor ecosystem, enabling the country to make substantial contributions in various areas such as design, talent, packaging, and research.

Job Creation and Collaborative Engineering Center

Following Prime Minister Narendra Modi's productive meetings with President Joe Biden during his visit to the US, an estimated 80,000 new jobs are expected to be created.

The job opportunities arise from significant investments by prominent players in the semiconductor industry, including Micron, Applied Materials, and Lam Research.

These investments are regarded as key milestones in India's semiconductor ecosystem's growth.

Additionally, Applied Materials plans to invest $400 million over the next four years to establish a collaborative engineering center in Bengaluru, focusing on developing and commercializing semiconductor manufacturing technologies.

Lam Research aims to train 60,000 Indian engineers through its Semiverse Solution virtual fabrication platform, greatly contributing to India's semiconductor education and workforce development goals.

Micron's Investment and India's Semiconductor Ecosystem

Micron's decision to invest $2.7 billion in setting up a plant in Gujarat demonstrates the company's confidence in India's potential for semiconductor manufacturing. The investment aligns with Prime Minister Modi's vision of positioning India as a significant global semiconductor value chain presence.

The establishment of Micron's assembly and test facility will expand the company's manufacturing base and enhance its ability to serve customers in India and worldwide.

The project has received substantial support from the Indian government, which will provide financial incentives and support for essential semiconductor infrastructure. Construction of the new facility is expected to commence in 2023, with Phase 1 operational in late 2024.

Transformation of India's Semiconductor Landscape

The investment by Micron will play a transformative role in India's semiconductor landscape, creating tens of thousands of high-tech and construction jobs.

IT and telecom minister Ashwini Vaishnaw emphasized the positive impact of Micron's move, stating that it will revolutionize the semiconductor industry in India.

Junior Minister for IT & Electronics Rajeev Chandrasekhar hailed it as a significant milestone, highlighting the potential for substantial growth and development in the sector.

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