New Delhi: Micron Technology is about to finalise its huge deal to invest considerable amounts of capital, amounting to $1 billion, in the establishment of a state-of-the-art chip packaging facility in India.

Micron Technology which is an American-based computer memory and USB flash drives producing company, is planning to invest in bulk to bolster India’s domestic chip manufacturing capabilities, reported Bloomberg on Friday.

Sources close to the matter told that the interested investment by the tech company potentially reaches up to $2 billion, showing the scale and significance of Micron’s involvement in India’s semiconductor sector.

India has been actively wanting to collaborate strategically and attract investments from global technology giants to establish a robust semiconductor ecosystem. The substantial investments in micron technology show the growing trust in India’s potential as a manufacturing hub for advanced semiconductor technologies.

By deciding to invest in the country, Micron will not only be beneficial in enhancing the country’s capabilities in chip manufacturing but will also be generating employment opportunities, and fostering technical innovation in the region.

Investments from Micron Technology perfectly align with the Indian government’s determined “Make in India” initiative, which aims at transforming the country into a global manufacturing hub in varied sectors, in electronics as well as semiconductors

Union Cabinet is expected soon to announce semiconductor manufacturing in India worth Rs 25,000 crores.