Present at the event, IESA President Ashok Chandak called it a game-changer. ‘We’re witnessing history unfold. PM Modi’s mantra—India is prepared, trustworthy, and results-oriented—captures our journey perfectly,’ he remarked. This move signals India’s emergence on the global semiconductor stage.

At the heart of this Rs 22,516 crore project—equivalent to $2.75 billion—is Micron’s massive bet on India, complemented by its existing design hubs. The plant targets critical memory products like DRAM, NAND flash, and SSDs that fuel everything from AI innovations to electric vehicles and cloud computing.

Only a select few nations possess advanced memory manufacturing prowess, making this facility strategically vital. IESA highlighted how it addresses skyrocketing AI needs amid global supply vulnerabilities.

Synergizing with other initiatives, including new assembly lines set to launch this year, Micron’s venture will supercharge India’s chip ecosystem. It promises robust growth in design-centric production and international trade.

Job creation is another highlight: 5,000 direct positions and over 15,000 indirect roles will skill up the local talent pool. As India operationalizes its semiconductor strategy, this plant exemplifies the shift from policy to reality, heralding an era of self-reliance in high-tech manufacturing.

Located in YEIDA’s Sector-28, spanning 48 acres near the Noida International Airport, the facility will operate as an OSAT unit dedicated to Display Driver ICs. These chips are indispensable in mobiles, laptops, automotive systems, and everyday gadgets, promising to meet surging domestic and international demand.

Funded under the ATMP scheme, the initiative seeks to enhance local production capabilities, curb reliance on foreign imports, and build resilient supply networks. Foxconn’s 40% equity includes an initial outlay of Rs 312 crore, expandable to Rs 424 crore, reflecting strong investor confidence.

Beyond manufacturing, the plant will drive innovation, upskill the workforce, and create thousands of high-quality jobs. This development strengthens India’s tech infrastructure, attracts further investments, and aligns with the vision of Atmanirbhar Bharat. The virtual event by PM Modi highlights government commitment to transformative industrial projects.

Empowered by the government’s Design Linked Incentive scheme, C2i will fast-track its advanced power management semiconductors for AI data centers and cloud setups. The capital targets high-density power solutions that promise unmatched reliability, addressing key pain points in next-gen computing.

Peak XV’s bet on C2i stems from the startup’s novel tech, which could dramatically enhance GPU longevity and slash industry costs by billions, as noted by MD Rajan Anandan. The company’s ‘Grid to Core’ methodology optimizes power pathways inside servers, delivering electricity with superior efficiency and safety right to the processor core.

This innovation acts as an intelligent power controller for data centers, ensuring AI systems deliver peak performance without interruptions. It’s a vital leap for scalable digital infrastructure amid surging AI demands.

Minister Ashwini Vaishnaw has outlined India’s dual focus on semiconductor design and fabrication to build IP and world-class firms. The 2022 DLI program counters startup hurdles—prolonged R&D, high expenses, and risks—via funding, cutting-edge tools, and IP access, all vetted by expert panels.

Investor trust in DLI startups is surging, evidenced by C2i’s rapid funding trajectory. This reflects a maturing Indian chip ecosystem, drawing global attention and paving the way for more breakthroughs in deep-tech innovation.