Commerce and Industry Minister Piyush Goyal recently met with Micron Technology CEO and President Sanjay Mehrotra during his visit to San Francisco for the Indo-Pacific Economic Framework (IPEF) meeting. The discussions centred around exploring business opportunities in India’s burgeoning semiconductor sector, marking a pivotal moment for the country’s technological landscape.
Micron Technology, a leading US-based semiconductor company, is making substantial investments in India by establishing the nation’s first chip facility in Gujarat. This strategic move is anticipated to generate 5,000 direct jobs and an additional 15,000 indirect employment opportunities in the coming years, contributing significantly to India’s economic growth.
The Indian government, recognizing the importance of fostering semiconductor development, approved Micron’s ambitious project in June. The project involves the setup of a semiconductor test and packaging unit with a whopping investment of USD 2.7 billion. This move aligns with India’s broader vision to enhance its manufacturing capabilities and become a key player in the global semiconductor arena.
In a statement following the meeting, Minister Piyush Goyal shared insights into the discussions with Micron’s leadership. “Met Mr. Sanjay Mehrotra, CEO & President of @MicronTech. Discussed how India’s growing semiconductor ecosystem presents vast opportunities for the company to collaborate & expand its footprint in the country,” Goyal mentioned in a post on the social networking platform X.
The collaboration between Micron Technology and India holds tremendous promise for mutual growth. As the semiconductor industry continues to evolve rapidly, the partnership is poised to capitalize on India’s skilled workforce and technological potential. Micron’s commitment to setting up a state-of-the-art facility in Gujarat underscores the company’s confidence in India’s ability to become a key hub for semiconductor manufacturing and innovation.
Furthermore, Minister Goyal’s engagements in San Francisco extended beyond the semiconductor sector. He also met with YouTube CEO Neal Mohan to discuss opportunities for collaboration and expansion in India. Goyal expressed, “We discussed how India presents a huge opportunity for @YouTube to further expand collaboration and footprint in the country.” This signals a broader effort to encourage investments and partnerships that can propel India’s digital and technology landscape to new heights.
Micron Technology’s investment in India’s semiconductor sector is a testament to the country’s growing prominence in the global technology landscape. The establishment of the chip facility in Gujarat and the discussions with YouTube highlight India’s appeal as a lucrative market and a hub for innovation. As these collaborations unfold, they are expected to contribute significantly to India’s economic growth and technological advancement, solidifying its position on the world stage.
