US Chipmaker Micron May Announce Large Investment In India For Chip Plant During PM Modi's US Visit: Report

US chipmaker Micron Technology is mulling a $1-$2 billion investment to set up a chip packaging plant in India.

No final decision has been made, but if the company decided to go ahead, an announcement could be made during Prime Minister Narendra Modi's state visit to Washington DC next week, The Hindu reported citing sources.

PM Modi's state visit will focus heavily on defence and advanced technology, with two defence deals expected to be concluded.

One is for 31 MQ-9 B Predator drones from General Atomics, and the other is for the co-production of General Electric's 414 jet engines in India with Hindustan Aeronautics Limited.

The potential tech deals are based on a new bilateral platform launched earlier this year, the Initiative on Critical and Emerging Technologies.

As news of the potential Micron investment in India broke, the company also announced its "unwavering commitment" to China, with a $603 million investment in its chip packaging plant in Xian.

Earlier last month, the Chinese authorities had said that they would stop Chinese infrastructure companies from buying from Micron after the company failed a network security assessment.