The Indian government plans to lure investments from four to six semiconductor companies in the next year, according to India's IT Minister, Ashwini Vaishnaw. Emphasizing that the companies are encouraged to concentrate on developing a comprehensive fabrication ecosystem instead of simply importing fabrication units, he stated that "a complete ecosystem involves the semiconductor unit itself, design, getting the suppliers of chemicals, gases and all other compounds, equipment manufacturers and talent in place".

This statement comes in the aftermath of Micron Technology, the fifth largest semiconductor company, announcing on Thursday that it will invest up to$825 million in a new chip assembly and test facility in Gujarat, with a total investment of$2.75 billion supported by the Indian central government and the state of Gujarat.

In December 2021, India launched a semiconductor mission with the aim of becoming a prominent player in the field of semiconductor technology. Rajeev Chandrasekhar, the Union Minister of State for Electronics and Technology emphasized that India's semiconductor ecosystem has seen significant progress, and the latest investment proposal by US-based Micron Technology is expected to provide a boost to the sector, potentially leading to the creation of thousands of job opportunities.