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Sumit Khanna - 2 Tanvi Mehta - 2 Jan Harvey - 1 Narendra Modi's - 1 Modi - 1 Biden - 1 Aditya Kalra - 1 Aftab Ahmed - 1
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☆ Micron signs preliminary agreement for India chip facility
  + stars: | 2023-06-28 | by ( ) www.reuters.com   time to read: 1 min
AHMEDABAD, June 28 (Reuters) - U.S. memory chip firm Micron Technology (MU.O) on Wednesday signed a memorandum of understanding with the Indian government to build a semiconductor plant, its first factory in the country. Micron said last week it will invest up to $825 million in the facility. With support from the Indian central government and the state of Gujarat, the total investment will be $2.75 billion, it added. The facility will be constructed in Sanand, near the city of Ahmedabad in Gujarat. Reporting by Sumit Khanna; Writing by Tanvi Mehta; Editing by Jan HarveyOur Standards: The Thomson Reuters Trust Principles.
Persons: Sumit Khanna, Tanvi Mehta, Jan Harvey Organizations: Micron Technology, Wednesday, Micron, Thomson Locations: AHMEDABAD, Gujarat, Sanand, Ahmedabad
☆ India clears $2.7 bln Micron chip testing plant ahead of Modi U.S. visit -source
  + stars: | 2023-06-20 | by ( Aftab Ahmed Trevor Hunnicutt Aditya Kalra | Aftab Ahmed | Trevor Hunnicutt | ) www.reuters.com   time to read: +3 min
Spokespeople for Micron and the Indian government, including its technology ministry, did not respond to requests for comment. A senior Biden administration official said the White House was "encouraged" by the number of U.S. firms considering India investments. An Indian industry source familiar with Micron's approvals said the so-called Assembly Testing Marking and Packaging will be built in the city of Sanand. Micron could procure and package chip for clients at the plant, or other companies could send their chips for testing before shipping. The source added that Micron's India plant would boost Modi's vision of making India a semiconductor base but true success would require actual manufacturing.
Persons: Narendra Modi's, Modi, Biden, Aditya Kalra, Aftab Ahmed, Trevor Hunnicutt, Conor Humphries, David Goodman Organizations: chipmaker Micron, U.S, Micron, FedEx, MasterCard, House, White House, Reuters, Biden, United, U.S . Commerce Department, Thomson Locations: India, DELHI, WASHINGTON, Gujarat, China, Sanand
☆ India's Tata Group signs $1.6 bln EV battery plant deal
  + stars: | 2023-06-02 | by ( Sumit Khanna | ) www.reuters.com   time to read: +1 min
AHMEDABAD, June 2 (Reuters) - India's Tata Group signed an outline deal on Friday on building a lithium-ion cell factory, based on investment of about 130 billion rupees ($1.58 billion), as part of the nation's efforts to create its own electric vehicle supply chain. Compared to the size of its population, India's car market is tiny. Tata Motors dominates its electric vehicle (EV) sales, which made up just 1% of India's total car sales of about 3.8 million last year. "The plant will go a long way in contributing to the development of the EV ecosystem in Gujarat and India," Vijay Nehra, an official in the Gujarat state government told Reuters. ($1 = 82.3373 Indian rupees)Reporting by Sumit Khanna and Tanvi Mehta; editing by Barbara LewisOur Standards: The Thomson Reuters Trust Principles.
Persons: Vijay Nehra, Sumit Khanna, Tanvi Mehta, Barbara Lewis Organizations: India's Tata Group, Tata Motors, Solutions, Reuters, Thomson Locations: AHMEDABAD, Gujarat, Sanand, India
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