India clears $2.7 bn Micron chip testing plant ahead of PM Modi's US visit.

India's cabinet has approved a $2.7 billion plan by Micron Technology to set up a semiconductor testing and packaging unit ahead of Prime Minister Narendra Modi's visit to the U.S. this week, a senior government source told Reuters.

Micron's plant is set to be built in Modi's home state of Gujarat and the government will dole out production-linked incentives worth 110 billion rupees ($1.34 billion), the Indian official added. He declined to be identified ahead of a planned announcement during Modi's U.S. trip.

Spokespeople for Micron and the Indian government, including its technology ministry, did not respond to requests for comment.

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