Micron Semiconductor Technology India (MSTI) and Aequs Group have received government approval to set up new manufacturing zones in India. These zones are called Special Economic Zones (SEZs) and are meant to boost high-tech production, especially in semiconductors and electronic parts.
What’s Happening?
- Micron will invest Rs 13,000 crore to build a large SEZ on 37.64 hectares of land in Sanand, Gujarat.
- Aequs Group will invest Rs 100 crore to set up a smaller SEZ on 11.55 hectares in Dharwad, Karnataka.
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Why Now?
These projects are being launched after the Indian government made new changes to SEZ rules to attract investment in advanced manufacturing. Some of the key reforms include:
- Reducing the required land size for semiconductor and electronics SEZs from 50 hectares to 10 hectares, making it easier for companies to start new projects.
- Relaxing land ownership rules, so companies can use land with minor legal issues.
- Allowing SEZ units to sell goods within India after paying duties, which means more business opportunities.
- Letting companies include the value of free-of-cost materials in their export calculations, which aligns better with how the industry operates.
Conclusion
These changes are expected to make India a more attractive destination for global tech companies and help boost local manufacturing, job creation, and economic growth in the electronics sector.
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