The Gujarat government and Micron Technology Inc. on Wednesday signed an MoU for setting up a $2.75 billion semiconductor assembly and test facility at Sanand in the Ahmedabad district.

The plant, which is expected to be operational by 2025, will create 5,000 direct jobs and 10,000 indirect jobs. It will be Micron's first semiconductor plant in India.

"This is a major step towards making India a global hub for semiconductor manufacturing," said Electronics and Information Technology Minister Ashwini Vaishnaw. "It will also help to boost the domestic electronics manufacturing industry."

Micron is a leading manufacturer of memory chips. Its products are used in a wide range of devices, including smartphones, laptops, and servers.

The MoU was signed by Gujarat Chief Minister Bhupendra Patel and Micron Senior Vice President Gursharan Singh.

"We are excited to partner with the Gujarat government to set up our first semiconductor plant in India," said Singh. "This is a significant investment for us, and we believe that it will help to meet the growing demand for semiconductors in the global market."

The plant will be located in the Sanand GIDC -II industrial estate. It will be spread over 93 acres and will have the capacity to manufacture 120,000 wafers per month.

The Gujarat government has offered Micron a number of incentives, including a 10-year tax holiday and a 25% capital subsidy.

The MoU is a major boost for India's semiconductor manufacturing industry. It is the second major investment in the sector in recent months, following the announcement that Vedanta and Foxconn will set up a $15 billion plant in Gujarat.

The government is hoping that these investments will help to make India a global hub for semiconductor manufacturing. The sector has the potential to create millions of jobs and boost the economy.

Impact of the investment

The investment by Micron is a major boost for India's semiconductor manufacturing industry. It is the first major investment by a global semiconductor company in India, and it is expected to create thousands of jobs.

The investment is also a sign of the government's commitment to making India a global hub for semiconductor manufacturing. The government has offered a number of incentives to attract investment in the sector, and it is clear that these incentives are working.

The investment by Micron is likely to have a positive impact on the Indian economy. The semiconductor sector is a high-growth sector, and it is expected to create millions of jobs in the coming years. The investment by Micron is likely to help to boost the growth of the sector and create jobs.

Overall, the investment by Micron is a major boost for India's semiconductor manufacturing industry and the Indian economy. It is a sign of the government's commitment to the sector, and it is likely to have a positive impact on the economy in the coming years.