 "Vaishnaw to meet top tech execs to invite investments in chips, laptops")
In a bid to woo big tech companies to invest in India in areas like laptops and semiconductor chips, communications minister Ashwini Vaishnaw will meet top executives of tech and semiconductor companies in the US, including HP, Dell, Intel and Google, among others.
The Centre has been wooing multinational corporations through the production-linked incentive scheme and the semiconductor scheme, both of which provide incentives to companies.
India's Rs 76,000-crore semiconductor PLI scheme allows for uniform fiscal support of 50 per cent of project cost for semiconductor fabs across technology nodes and display manufacturing.
In April, Apple became the first brand to cross the $5-billion export mark from India, at a time when it is seeking to reduce its dependence on China.
Earlier, Business Standard reported that the Centre is close to approving a proposal by Micron Technology to set up an assembly, testing, marking and packaging (ATMP) facility in the country involving an investment of about $1 billion. The world's fifth largest semiconductor company, based in Idaho, USA, will use the facility to process some of its own wafers manufactured across the globe.
The $30.8 billion Micron is one of the world's largest players in memory and storage technologies, with 11 manufacturing sites across the US, Japan, Malaysia, Singapore, Taiwan and China. Headed by Sanjay Mehrotra, who is of Indian origin and studied at BITS Pilani, Micron has been scouting around the globe for more than a year for a place to set up a semiconductor packaging facility.