Union Minister Ashwini Vaishnaw said on Monday that the current BJP-led central government has succeeded in attracting investment in emerging technology, stating that India is the next key location for semiconductor manufacturers.
Congress has tried to do this since the 1980s, but has been unsuccessful.
During Prime Minister Narendra Modi’s state visit to the US last week, Micron Technology announced a major India-specific investment plan.
On Thursday, hours after PM Modi met with Micron CEO Sanjay Mehrotra in the US and invited him to boost semiconductor manufacturing in India, the global semiconductor major announced plans to build a new assembly and testing facility in India’s Gujarat with an investment of USD 825 million. . Once established, the facility will meet demand from domestic and international markets.
Micron said it chose Gujarat for its manufacturing infrastructure, favorable business climate and a strong talent pipeline in the SANAND Industrial Park (Gujarat Industrial Development Corporation – GIDC).
Phased construction of the new assembly and testing facility in Gujarat is expected to begin in 2023. Micron expects Phase 2 of the project, which will include construction of a facility similar in scale to Phase 1, to begin by the second half of the decade. .
“This was a very historic visit. It is a very proud moment when India was discussed in the White House. The US sees India as an equal partner. Several foreign policies targeting India were signed during the visit. India and the US come together as a great force. Prime Minister Modi’s visit is considered a milestone worldwide. India has now become a force to be reckoned with,” IT Minister Ashwini Vaishnaw said.
During Prime Minister Modi’s visit to the US, partnerships were signed for 35 emerging technologies, including semiconductors, aerospace, quantum computing and AI.
According to the minister, the production of jet engines in India by HAL is the most important milestone.
In a major announcement coinciding with PM Modi’s visit, GE Aerospace announced that it has signed a Memorandum of Understanding (MoU) with Hindustan Aeronautics Limited (HAL) to manufacture fighter jet engines for the Indian Air Force.
These state-of-the-art jet engines, known for their endurance and durability, will increase the capability of the Indian Air Force.
Co-production of jet engines for the Indian Air Force, defense industrial cooperation, aerospace sector cooperation, semiconductor supply chain cooperation and innovation partnership and cooperation in emerging artificial intelligence technology are among the main conclusions of Prime Minister Narendra’s visit Modi to the US and his bilateral meeting with President Joe Biden.
“India has been trying to develop the semiconductor industry for 40 years, but this is the first time a major semiconductor player, Micron, has come to the country,” added Mr. Vaishnaw.
“Today it is very clear all over the world that India will be Semiconductor’s next big accolade as the way the entire company has viewed India from a different point of view and a MoU has been signed between the US and India 3 months ago in Semiconductor Corporation, which resulted during the Prime Minister’s state visit, 3 major advances have been made in relation to semiconductors.”
“Congress is hiding its frustration, it’s their frustration, Congress’s frustration is they tried twice, tried three times, tried it in the ’80s, tried it in the ’90s, tried it in 2010, all three the times they failed to bring in the semiconductor industry. India.”
Today, according to Vaishnaw, India is clearly focused on technology, co-development of technology and how to steer India’s position in the global world order.
About Micron’s factory in India, Mr. Vaishnaw, it will be ready in a record time of six quarters – by the end of 2024.
(Except for the headline, this story has not been edited by NewsMadura staff and is being published from a syndicated feed.)