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Micron will receive 50 per cent fiscal support for the total project cost from the Indian central government and incentives representing 20 per cent of the total project cost from the state of Gujara

Chipmaker Micron to set up $2.75 bn manufacturing unit in India 

Micron will receive 50 per cent fiscal support for the total project cost from the Indian central government and incentives representing 20 per cent of the total project cost from the state of Gujara

Computer storage chip maker Micron will set up its semiconductor assembly and test plant in Gujarat entailing a total investment of USD 2.75 billion (around Rs 22,540 crore), the company said on Thursday. The total cost of the plant comprises USD 825 million (around Rs 6,760 crore) from Micron and the rest from the government in two phases, according to a company statement.
&ldquo;We are excited about the steps India is taking to develop the local semiconductor ecosystem,&rdquo; Micron President and CEO Sanjay Mehrotra said.
He said Micron's new assembly and test location in India will enable Micron to expand its global manufacturing base and better serve customers in India and around the world.
Micron's plant has been approved under the government's &ldquo;Modified Assembly, Testing, Marking and Packaging (ATMP) Scheme&rdquo;.
Under the scheme, Micron will receive 50 per cent fiscal support for the total project cost from the Indian central government and incentives representing 20 per cent of the total project cost from the state of Gujarat.
"Phased construction of the new assembly and test facility in Gujarat is expected to begin in 2023. Phase 1, which will include 500,000 square feet of planned cleanroom space, will become operational in late 2024, " Micron said in a statement.
Micron said that the plant will create up to 5,000 new direct jobs and 15,000 community jobs over the next several years.
"The combined investment by Micron and the two government entities over the course of both phases will be up to USD 2.75 billion. Government support will help fund the project and facilitate access to essential semiconductor infrastructure and resources to drive innovation and enhance local talent development," the statement said.
Micron will ramp capacity gradually over time in line with global demand trends. Micron said that it expects Phase 2 of the project, which would include the construction of a facility similar in scale to Phase 1, to start towards the second half of the decade.
"Micron's new facility will enable assembly and test manufacturing for both DRAM and NAND products and address demand from domestic and international markets," the statement said.
Union Minister for IT and Telecom Ashwini Vaishnaw said that Micron's investment to set up assembly and test manufacturing in India will fundamentally transform India's semiconductor landscape and generate tens of thousands of high-tech and construction jobs.
"This investment will be a crucial building block in the country's blossoming semiconductor ecosystem," Vaishnaw said.
Micron said that it selected the state of Gujarat due to its manufacturing infrastructure, conducive business environment and well-established talent pipeline in the SANAND Industrial Park (Gujarat Industrial Development Corporation &ndash; GIDC).
&ldquo;After more than a year of discussions with Indian government officials, spearheaded by the India Semiconductor Mission and the state of Gujarat, Micron is pleased to bring its industry-leading assembly and test capabilities to be a part of this transformation in India's semiconductor industry,&rdquo; Micron's Senior Vice-President of Global Assembly and Test Operations Gursharan Singh said.
Micron will build and operate the assembly and test facility in accordance with the company's sustainability goals and in line with local and global environmental commitments, the statement said.

Thousands of truck drivers in South Korea have entered their seventh day against soaring fuel prices and demanding minimum pay guarantees. 
The protest has hit the country’s major industries, delaying car and steel production, and the shipment of raw materials for chips. 
In the face of skyrocketing fuel prices, the drivers are demanding that minimum wage guarantees introduced two years ago during the pandemic be extended beyond a December 31 expiration. They are also demanding work rules that prevent overwork and extended hours that they say lead to unsafe driving. 
Car maker Hyundai and steel producer POSCO are among the firms that have been affected by the industrial action.
Steelmaker POSCO has said it would halt some plants due to a lack of space to store unshipped products. Automaker Hyundai Motor has cut production at some lines and cement makers have also cut operations. 

22,000 truck drivers on strike; South Korea industry comes to standstill

South Korea's average daily shipments of petrochemical products have plunged by 90 per cent since a strike by truckers in the country,

<div class="abstract-item-text__d2d4dde8">Posco curbs output, petrochemical industry sees major impact</div>

Thousands of truck drivers in South Korea have entered their seventh day against soaring fuel prices and demanding minimum pay guarantees.&nbsp;
The protest has hit the country&rsquo;s major industries, delaying car and steel production, and the shipment of raw materials for chips.&nbsp;
In the face of skyrocketing fuel prices, the drivers are demanding that minimum wage guarantees introduced two years ago during the pandemic be extended beyond a December 31 expiration. They are also demanding work rules that prevent overwork and extended hours that they say lead to unsafe driving.&nbsp;
Also read/watch: <a title="IPL media rights: Mukesh Ambani grabs digital, Disney-Star goes old school with TV" href="https://www.editorji.com/business-news/ipl-media-rights-mukesh-ambani-grabs-digital-disney-star-goes-old-school-with-tv-1655187043682">IPL media rights: Mukesh Ambani grabs digital, Disney-Star goes old school with TV</a>
Car maker Hyundai and steel producer POSCO are among the firms that have been affected by the industrial action.
Steelmaker POSCO has said it would halt some plants due to a lack of space to store unshipped products. Automaker Hyundai Motor has cut production at some lines and cement makers have also cut operations.&nbsp;

From cars to ACs&nbsp;to your mobile phones, everything that depends on the&nbsp;semiconductor chips is going to get expensive. Not because of the shortage this time but&nbsp;as chip foundries prepare to increase their prices.
The world&rsquo;s biggest foundries &mdash; including&nbsp;Taiwan Semiconductor Manufacturing Company,&nbsp;Samsung&nbsp;and&nbsp;Intel&nbsp;&mdash; are considering price hikes even as they have already increased prices 10-20 percent in the past year, CNBC&nbsp;reports.
Also read/watch |&nbsp;Snapchat warns the picture is not looking good! slashes hiring and outlook
The foundries are increasing their prices because it&rsquo;s becoming more expensive for them to fund their growing operations. The chemicals used in chip manufacturing have increased 10-20 percent, as per the report. Similarly, the labor required to build new semiconductor facilities has also seen shortages and increased wage rates.
Samsung is set to increase its chipmaking prices by up to 20 percent, according to a Bloomberg report last Friday.
Also read/watch |&nbsp;TIME 100: Gautam Adani makes the list of most influential

ACs, mobile phones, cars to get more expensive; here's why

The world’s biggest foundries — including Taiwan Semiconductor Manufacturing Company, Samsung and Intel — are considering price hikes even as they have already increased prices 10-20 percent in the past year, CNBC reports.

Electronics, automobiles to get expensive

Samsung is set to increase its chipmaking prices by up to 20 percent.

From cars to ACs&nbsp;to your mobile phones, everything that depends on the&nbsp;semiconductor chips is going to get expensive. Not because of the shortage this time but&nbsp;as chip foundries prepare to increase their prices.
The world&rsquo;s biggest foundries &mdash; including&nbsp;Taiwan Semiconductor Manufacturing Company,&nbsp;Samsung&nbsp;and&nbsp;Intel&nbsp;&mdash; are considering price hikes even as they have already increased prices 10-20 percent in the past year, CNBC&nbsp;reports.
Also read/watch |&nbsp;<a href="https://www.editorji.com/business-news/snapchat-warns-the-picture-is-not-looking-good-slashes-hiring-and-outlook-1653372971935" target="_blank">Snapchat warns the picture is not looking good! slashes hiring and outlook</a>
The foundries are increasing their prices because it&rsquo;s becoming more expensive for them to fund their growing operations. The chemicals used in chip manufacturing have increased 10-20 percent, as per the report. Similarly, the labor required to build new semiconductor facilities has also seen shortages and increased wage rates.
Samsung is set to increase its chipmaking prices by up to 20 percent, according to a Bloomberg report last Friday.
Also read/watch |&nbsp;<a href="https://www.editorji.com/business-news/time-100-gautam-adani-makes-the-list-of-most-influential-1653358038551" target="_blank">TIME 100: Gautam Adani makes the list of most influential</a>

From automobiles to smartphones to electronic appliances, all are facing a big hit due to the global shortage of semiconductors or chips.
The supply-side shortage of chips started with the pandemic,&nbsp;which led to the shutting down of manufacturing plants and factories across the globe. People stuck at home during the lockdown&nbsp;led to a surge in the demand for&nbsp;electronics, adding fuel to the fire.
Here are some of the biggest incidents that have occurred&nbsp;due to the shortage in the last 2 or 3 months:

The latest one being the delay in the launch of JioPhone&nbsp;Next developed by&nbsp;Asia's richest Mukesh&nbsp;Ambani-led&nbsp;Reliance in collaboration with Google
India's largest carmaker&nbsp;Maruti&nbsp;Suzuki's production fell 8% in August
Mahindra&nbsp;&amp; Mahindra, last week,&nbsp;said it would have to halt production for a week due to the worsening supply situation of semiconductors.&nbsp;
Most of the other automobile firms in India, including Tata Motors, Hyundai Motor India, Kia Motors, Nissan, Renault, and Honda Cars, have either already curbed production or will do so in the coming weeks.
Maruti expects&nbsp;a potential loss of 40% in its output; for M&amp;M it is 20-25%&nbsp;
Input costs for the automakers&nbsp;have been rising with Maruti&nbsp;increasing prices three times this year alone
Tata&nbsp;foraying into chip manufacturing

Many analysts expect the chip shortage to continue till 2023. Car makers are the worst hit around the globe.

Global chip shortage: Phones, cars to appliances hit , till when can the semiconductor shortage last

From automobiles to smartphones to electronic appliances, all are facing a big hit due to the global shortage of semiconductors or chips.

Global chip shortage: Huge impact on automobile, smartphone industry; till when it can last?

JioPhone&nbsp;Next developed by&nbsp;Reliance and Google delayed for the launch

From automobiles to smartphones to electronic appliances, all are facing a big hit due to the global shortage of semiconductors or chips.
The supply-side shortage of chips started with the pandemic,&nbsp;which led to the shutting down of manufacturing plants and factories across the globe. People stuck at home during the lockdown&nbsp;led to a surge in the demand for&nbsp;electronics, adding fuel to the fire.
Also read/watch:&nbsp;<a href="https://www.editorji.com/story/jiophone-next-launch-delayed-chip-shortage-hits-ambani-s-mega-plan-1631237651240" target="_blank">Chip shortage hits Ambani's mega plan</a>
Here are some of the biggest incidents that have occurred&nbsp;due to the shortage in the last 2 or 3 months:
<ul>
<li>The latest one being the delay in the launch of JioPhone&nbsp;Next developed by&nbsp;Asia's richest Mukesh&nbsp;Ambani-led&nbsp;Reliance in collaboration with Google</li>
<li>India's largest carmaker&nbsp;Maruti&nbsp;Suzuki's production fell 8% in August</li>
<li>Mahindra&nbsp;&amp; Mahindra, last week,&nbsp;said it would have to halt production for a week due to the worsening supply situation of semiconductors.&nbsp;</li>
<li>Most of the other automobile firms in India, including Tata Motors, Hyundai Motor India, Kia Motors, Nissan, Renault, and Honda Cars, have either already curbed production or will do so in the coming weeks.</li>
<li>Maruti expects&nbsp;a potential loss of 40% in its output; for M&amp;M it is 20-25%&nbsp;</li>
<li>Input costs for the automakers&nbsp;have been rising with Maruti&nbsp;increasing prices three times this year alone</li>
<li>Tata&nbsp;foraying into chip manufacturing</li>
</ul>
Many analysts expect the chip shortage to continue till 2023. Car makers are the worst hit around the globe.

It was a blockbuster earning from world's most valuable tech company Apple as&nbsp;iPhone sales&nbsp;increased nearly 50% and overall sales were up 36% beating analysts' estimates across the board. Yet, the stock took a beating as the outlook did not connect as well.&nbsp;Apple though did not give a formal earnings guidance warned shareholders that the July-September quarter may not be as robust due to prevailing chip shortage. Apple CEO Tim Cook said in a call with analysts that Apple is seeing supply constraints related to &ldquo;silicon&rdquo; ( computer chips) that would affect the company&rsquo;s iPhone and iPad sales in the September quarter.

Apple reports stellar earnings but chip shortage to play havoc from here on

Blockbuster earnings by Apple but fails to enthuse shareholders as global chip shortage to play spoilsport in coming quarter.&nbsp;

Global Chip Shortage Hits Apple

Apple shares fell after executives warned that chip supply constraints could impact iPhones and iPads this quarter

It was a blockbuster earning from world's most valuable tech company Apple as&nbsp;iPhone sales&nbsp;increased nearly 50% and overall sales were up 36% beating analysts' estimates across the board. Yet, the stock took a beating as the outlook did not connect as well.&nbsp; Read/Watch Also:&nbsp;<a href="https://www.edtr.ai/9yw9">When is the iPhone&nbsp;13 coming?</a> Apple though did not give a formal earnings guidance warned shareholders that the July-September quarter may not be as robust due to prevailing chip shortage. Apple CEO Tim Cook said in a call with analysts that Apple is seeing supply constraints related to &ldquo;silicon&rdquo; ( computer chips) that would affect the company&rsquo;s iPhone and iPad sales in the September quarter.

Chipmaker TSMC has reportedly seen a growth in its annual revenue, amid an ongoing global chip shortage.

TSMC revenue sees growth during ongoing global chip shortage

Chipmaker TSMC has reportedly seen a growth in its annual revenue, amid an ongoing global chip shortage.
Responsible for around 28% of global chip manufacturing, TSMC's latest financial report states a 20% jump in sales from last year, at $13.3 billion.
Reports indicate that despite the firm investing around $100 billion into expanding its production, the company's CEO has warned that the chip shortage will continue through the year.

<div data-pm-slice="1 1 []" data-en-clipboard="true">Chipmaker TSMC has reportedly seen a growth in its annual revenue, amid an ongoing global chip shortage.</div>

Chipmaker TSMC has reportedly seen a growth in its annual revenue, amid an ongoing global chip shortage.
Responsible for around 28% of global chip manufacturing, TSMC's latest financial report states a 20% jump in sales from last year, at $13.3 billion.
Also watch: <a href="https://www.editorji.com/story/on-biz-buzz-intel-exclusive-on-global-chip-shortage-and-digital-india-s-role-in-the-tech-revolution-1626348580623" target="_blank">On Biz Buzz| Intel Exclusive on Global Chip shortage and Digital India's role in the tech revolution</a>
Reports indicate that despite the firm investing around $100 billion into expanding its production, the company's CEO has warned that the chip shortage will continue through the year.

According to reports, the launch of Samsung's alleged upcoming Galaxy S21 FE smartphone has been delayed due to the ongoing global shortage of chipsets.

Reports: Samsung Galaxy S21 FE delayed due to chip shortage

According to reports, the launch of Samsung's alleged upcoming Galaxy S21 FE smartphone has been delayed due to the ongoing global shortage of chipsets. Reports reveal that the launch date has been postponed from early August to October, and that the device will be released with limited availability. The alleged Galaxy S21 FE is supposed to be an affordable version of the flagship S21 series, launched in January this year.

According to a Reuters report, Taiwanese chipmaker TSMC is planning to build a new chip factory in the US instead of Europe. 

Reuters: TSMC to build new chip $23 billion factory in US, not Europe

According to a Reuters report, Taiwanese chipmaker TSMC is planning to build a new chip factory in the US instead of Europe.

According to a Reuters report, Taiwanese chipmaker TSMC is planning to build a new chip factory in the US instead of Europe. While the firm announced a $10-12 billion investment last year for one chip factory in Phoenix, it's reportedly decided to build a new foundry next to it. The new plant will be make more advanced chips on the 3nm process, and will cost $23-25 billion.

Automakers in the US have reportedly urged lawmakers to help boost semiconductor production amid the ongoing chip shortage. 

US automakers urge lawmakers to address chip shortage

Automakers in the US have reportedly urged lawmakers to help boost semiconductor production amid the ongoing chip shortage.

Automakers in the US have reportedly urged lawmakers to help boost semiconductor production amid the ongoing chip shortage. Reports say the chip scarcity is causing losses to the tune of 330,000 production units in the US. Automakers and big chipmakers like TSMC have warned that the crisis could continue into 2022.

Chipmaker TSMC has reportedly approved a $2.89 billion spending plan to expand its manufacturing capacity amid the ongoing global chip shortage. 

TSMC approves $2.89 billion plan to expand capacity amid global chip shortage

Chipmaker TSMC has reportedly approved a $2.89 billion spending plan to expand its manufacturing capacity amid the ongoing global chip shortage.

Chipmaker TSMC has reportedly approved a $2.89 billion spending plan to expand its manufacturing capacity amid the ongoing global chip shortage. TSMC had previously said that despite expanding manufacturing the chip shortage will continue into 2022. The world's largest contract chipmaker has clients that include the likes of tech giants Apple and Qualcomm.

Jaguar Land Rover will have to shut some of it's manufacturing units for at last a wek as the company shortage of semi-conductor chips.&nbsp;Tata Motors in a filing to the exchanges said that twomanufacturing plants will be operating a limited period of non-production from Monday April 26.&nbsp;The global chip shortage has continued to hit electronic, appliance and auto makers in the pandemic.&nbsp;

Chip shortage puts the brakes on for JLR manufacturing

Jaguar Land Rover will have to shut some of it's manufacturing units for at least a week as the company faces a shortage of semi-conductor chips.

Jaguar Land Rover will have to shut some of it's manufacturing units for at least a week as the company faces a shortage of semi-conductor chips.&nbsp; Tata Motors in a filing to the exchanges said that two manufacturing plants will be operating a limited period of non-production from Monday April 26.&nbsp; The global chip shortage has continued to hit electronic, appliance and auto makers in the pandemic.&nbsp;

According to reports, chipmaker TSMC has said the global chip shortage will likely carry on into 2022.

Reports: TSMC says global chip shortage will continue in 2022

According to reports, chipmaker TSMC has said the global chip shortage will likely carry on into 2022. TSMC makes chips for Apple and Qualcomm, and says that supplies will be tight despite expanding capacity and manufacturing facilities. However, the firm still believes that the chip shortage for its automobile clients will be greatly reduced from the next quarter.

According to reports, the ongoing global chip shortage has impacted tech giant Apple, with production for some MacBook and iPad models being postponed.

Reports: global chip shortage impacts Apple, production for MacBook, iPad models delayed

According to reports, the ongoing global chip shortage has impacted tech giant Apple, with production for some MacBook and iPad models being postponed. Reports say the firm has delayed component orders for some devices, but it seems production plans for iPhone models are as yet unaffected. Apple has not made an official statement addressing the reports.

A new study has reportedly found that the global supply chain for semiconductors has become more concentrated in certain regions.

Study: global supply chain for chips becoming increasingly concentrated in some regions

A new study has reportedly found that the global supply chain for semiconductors has become more concentrated in certain regions due to natural calamities and geopolitical conflict. The Semiconductor Industry Association has said that it found over 50 places in the supply chain where over 65% market share was held by a single region. While intellectual property and design were found to be located mostly in the US, special gases key and chip fabrication was concentrated in Europe. Moreover, the actual manufacturing was found to be located in Asia, with 92% in Taiwan alone.

Reports indicate that in a big push towards &lsquo;Make in India&rdquo; the Modi-Govt is set to offer&nbsp;$1 billion in cash to each semiconductor company that sets up manufacturing units in the country.
The incentive comes as there is a global chip shortage has hit everyone from makers of laptops smartphone to even kitchen appliances.
A senior govt official has told Reuters that the&nbsp;govt will&nbsp;&nbsp;the manufactured hat the government will be a buyer and there will also be mandates in the private market&nbsp;.

One billion cash incentive: Govt entices chipmakers to “Make in India”

Reports indicate that in a big push towards &lsquo;Make in India&rdquo; the Modi-Govt is set to offer&nbsp;$1 billion in cash to each semiconductor company that sets up manufacturing units in the country.
&nbsp;

<ul>
<li>Govt offers $1 billion cash incentive for chip makers&nbsp;</li>
<li>Chip makers to be "Make In India" under incentive</li>
<li>Govt likely to give chip makers demand guarantee&nbsp;</li>
</ul>

Reports indicate that in a big push towards &lsquo;Make in India&rdquo; the Modi-Govt is set to offer&nbsp;$1 billion in cash to each semiconductor company that sets up manufacturing units in the country.
The incentive comes as there is a global chip shortage has hit everyone from makers of laptops smartphone to even kitchen appliances.
A senior govt official has told Reuters that the&nbsp;govt will assure the manufacturer that the government will be a buyer and there will also be mandates in the private market.

Samsung may not launch its Galaxy Note smartphone series in 2021 due to an ongoing global shortage of semiconductors

Report: Samsung may not launch Galaxy Note 21 due to global chip shortage

Samsung may not launch its Galaxy Note smartphone&nbsp;series in 2021 due to an ongoing global shortage of semiconductors

Report: Samsung may not launch Galaxy Note 21 due to global chip shortage
Samsung may not launch its Galaxy Note smartphone&nbsp;series in 2021 due to an ongoing global shortage of semiconductors, a crucial component of mobile processing chips. According to Bloomberg, Samsung's mobile chief Koh Dongjin said in a recent earnings call there is a 'serious imbalance' in the demand and supply of chips, a shortage that has affected mobile CPU maker Qualcomm, and caused car manufacturing plants to shut down. Koh also said that there may not be enough chips available to launch two flagship models in a year, which might lead to a delay in the next Galaxy Note smartphone. He did, however, say that Samsung intends to release a Note next year, despite rumours that Samsung is looking to retire the Note series.
Samsung may not launch Galaxy Note 21 due to global chip shortage 'Serious imbalance' in demand, supply of chips: Samsung Global chip shortage caused car production plants to shut down Not enough chips to support 2 flagships in a year: Samsung Samsung intends to launch Note smartphone next year

Samsung may not launch its Galaxy Note smartphone&nbsp;series in 2021 due to an ongoing global shortage of semiconductors, a crucial component of mobile processing chips. According to Bloomberg, Samsung's mobile chief Koh Dongjin said in a recent earnings call there is a 'serious imbalance' in the demand and supply of chips, a shortage that has affected mobile CPU maker Qualcomm, and caused car manufacturing plants to shut down. Koh also said that there may not be enough chips available to launch two flagship models in a year, which might lead to a delay in the next Galaxy Note smartphone. He did, however, say that Samsung intends to release a Note next year, despite rumours that Samsung is looking to retire the Note series.

chip shortage

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