US semiconductor company Micron may go to India to invest 1 billion US dollars to build a factory

Lansheng Technology News: American semiconductor company Micron Technology will make a commitment to set up a chip packaging plant in India, providing at least US$1 billion.

According to a Bloomberg report on June 16, Indian Prime Minister Narendra Modi will visit the United States next week, and the investment agreement between Micron and India may be announced as early as during Modi's visit. One of the sources said Micron's pledged investment could reach $2 billion.

The report mentioned that if India succeeds in obtaining Micron's investment, the Modi government's ambitious "Made in India" plan will be boosted, and the "critical supply chain" in the United States will also be strengthened.

U.S. National Security Advisor Sullivan said in New Delhi, the capital of India, on June 13 that the elimination of technical trade barriers between India and the United States is one of the key contents of Modi's state visit to the United States. Regarding the semiconductor industry, Modi promised to provide US$10 billion to attract manufacturers to invest in India. Modi also promised that the Indian government would bear half of the cost of establishing a semiconductor park.

The aforementioned investment plan between Micron and India is still under negotiation. India's science and technology ministries and foreign ministry did not respond to Bloomberg's requests for comment, and representatives for Micron declined to comment. Micron also did not respond to a Reuters request for comment.

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