Modi invites chip company Micron to visit India to boost semiconductor manufacturing
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“The Prime Minister has invited Micron Technology to promote semiconductor manufacturing in India,” the External Affairs Ministry said in a statement. Micron Technology CEO Sanjay Mehrotra said after the meeting with Modi, “We are I look forward to great opportunities.
Washington. Prime Minister Narendra Modi has invited American chip company Micron Technology to come to India to boost semiconductor manufacturing. The Prime Minister also invited Applied Materials to invest in India for the development of process technology and advanced packaging capabilities. India offers competitive advantages in various parts of the supply chain of products, due to which foreign companies are looking for investment opportunities in India. In a meeting with Gary E Dickerson, President and Chief Executive Officer (CEO) of Applied Materials, Modi discussed the company’s collaboration with educational institutions to create a skilled workforce in India.
“The Prime Minister has invited Micron Technology to promote semiconductor manufacturing in India,” the External Affairs Ministry said in a statement. Micron Technology CEO Sanjay Mehrotra said after the meeting with Modi, “We are I look forward to great opportunities. Micron is a global leader in memory and storage. We are the supplier of memory and storage in all markets.” After his meeting with the Prime Minister, Dickerson said that this is a time of incredible growth for India. “We look forward to working closely with the Prime Minister and all of the people of India to achieve tremendous success,” he said.
In a meeting with General Electric CEO H Lawrence Culp, Modi invited the company to play a bigger role in India’s aviation and renewable energy sectors. Modi commended GE for its long-term commitment to manufacturing in India, the statement said. The Government of India is promoting semiconductor development in the country. Production Linked Incentive (PLI) has also been announced for the semiconductor sector. Global companies are looking at India as a viable investment destination for semiconductors. India is positioning itself as one of the most attractive destinations in Asia for electronics and semiconductors.
The Indian semiconductor market was valued at $27.2 billion in 2021 and is expected to reach $64 billion by 2026 with an annual growth of 19 percent. Setting up semiconductor units is a highly specialized, complex and costly task. Prime Minister Modi has reached Washington from New York. In New York, he led a historic event at the United Nations Headquarters to mark the ninth International Day of Yoga. The event was attended by UN officials, diplomats and dignitaries.
Disclaimer:IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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