Cabinet approves $2.7 billion Micron chip testing plant ahead of PM’s US visit | Latest News India
The cabinet has approved a $2.7 billion plan by Micron Technology to set up a semiconductor testing and packaging unit ahead of Prime Minister Narendra Modi’s visit to the U.S. this week, a senior government source told Reuters. (PM Modi in US LIVE updates)
Micron’s plant is set to be built in Modi’s home state of Gujarat and the government will dole out production-linked incentives worth 110 billion rupees ($1.34 billion), the Indian official added. He declined to be identified ahead of a planned announcement during Modi’s U.S. trip.
Spokespeople for Micron and the Indian government, including its technology ministry, did not respond to requests for comment.
