India-US ties will shape future of tech; will help to create 80,000 jobs: MoS IT

Press Trust of India

New Delhi

The big-ticket announcements by players including Micron, Applied Materials, and Lam Research during Prime Minister Narendra Modi's US visit will create an estimated 80,000 jobs, and underscore the resolve of the two countries to shape the future of technology, Union Minister Rajeev Chandrasekhar said on Friday.

The Minister of State for Electronics and IT termed the announcements by Micron Technology, Applied Materials and Lam Research as a "significant and meaningful milestone" and "central piece" in the growth semiconductor ecosystem in the country.

"These three investment decisions will create a minimum of 80,000 jobs directly in my estimate and indirectly the numbers could be much higher. More than that it will be a catalyst to the overall electronics and semiconductor ecosystem," Chandrasekhar said.

US memory chip firm Micron Technology will set up its semiconductor assembly and test plant in Gujarat entailing a total investment of USD 2.75 billion (around Rs 22,540 crore), the company said on Thursday.

The total cost of the plant comprises USD 825 million (around Rs 6,760 crore) from Micron and the rest from the government in two phases.