During Prime Minister Narendra Modi’s visit to America, it came to light that American chip maker Micron Technology will set up a new semiconductor chip plant in Gujarat, India, with an investment of $2.75 billion. Micron will invest only $825 million on its behalf.
After setting up the project, the central government and the Gujarat government will make the rest of the investment. Now the opposition is targeting the central government regarding the proposed semiconductor plant of Micron Technology.
Supriya Shrinate, the chairperson of the main opposition party Congress’s social media and digital platform, has raised questions on this deal through a tweet. Supriya tweeted that Micron Technology will not manufacture the chip but will assemble it.
She further notes that, in the investment of $2.75 billion for the semiconductor plant, 50 per cent of the amount will be invested by the central government and 20 per cent by the Gujarat government. At the same time, Micron will invest only $825 million. Taxpayers will have to bear the remaining investment of about $2 billion.
Right before Prime Minister Modi left for the US, a ???????????????????????? semiconductor test/assembly plant was announced in Gujarat with a total investment of $2.75 billion
But it’s not so simple – read to find out how you are paying for this unit.
????First of all remember, Micron will…
— Supriya Shrinate (@SupriyaShrinate) June 25, 2023
Announcing the installation of the project, Micron Technology said that 5,000 people would get direct employment by combining both phases of the project. Supriya Shrinate tweeted that we are investing $2 billion to create 5,000 jobs. The cost of one employee is 4 lakh dollars or 3.2 crore rupees. She asked, under which principle of economics does it look reasonable? She asked why the country’s resources were being misused in this way.
Let us tell you Sanjay Mehrotra, President and CEO of Micron Technology, had also met the Prime Minister during Prime Minister Narendra Modi’s visit to America. Micron Technology said that this new plant’s construction will start only in 2023, and production from the plant will begin by the end of 2024.
5,000 people will get direct employment, and 15,000 people will continue to get indirect jobs for the next several years. This will be Micron’s first investment in India. But with the announcement of setting up the project, politics has started regarding the semiconductor plant of Micron Technology.
