Micron Has Several Business Prospects In India’s Semiconductor Sector: Goyal

Piyush Goyal, the minister of commerce and industry, met with Sanjay Mehrotra, the president and CEO of Micron Technology, in the US to explore commercial prospects in India’s expanding semiconductor industry.

The minister is attending the Indo-Pacific Economic Framework (IPEF) summit in San Francisco.

In Gujarat, the US-based semiconductor manufacturer Micron is establishing India’s first chip factory, which is expected to generate 15,000 indirect employment in the next several years in addition to 5,000 direct positions.

Micron’s plan to establish a USD 2.7 billion semiconductor testing and packaging facility in the nation was approved by the government in June.

“I met Mr. Sanjay Mehrotra, @MicronTech’s CEO and president. Goyal wrote on Thursday on the social networking site X, “discussed how India’s expanding semiconductor ecosystem presents vast opportunities for the company to collaborate & expand its footprint in the country.”

Neal Mohan, the CEO of YouTube, was also a guest of his.

“We discussed how India presents a huge opportunity for @YouTube to further expand collaboration and footprint in the country,” Goyal said.

In the meanwhile, Goyal also dealt with Indian-origin venture capitalists (VCs) and Silicon Valley entrepreneurs, according to a statement from the Indian Commerce Ministry.

In order to improve India as an investment destination for global investors, the minister invited the attendees to offer their suggestions.

He called on business owners and venture capitalists to support India’s youthful talent in vital and cutting-edge fields like artificial intelligence.

In the Asia Pacific Economic Cooperation (APEC), Goyal also took part.

Australia, Canada, Chile, China, Indonesia, Japan, Korea, Malaysia, Mexico, New Zealand, Peru, Philippines, and Russia are among the countries that make up the APEC membership.