Kumaraswamy clarifies misquote: ‘Semiconductor sector essential to India’s strategy’

Union Minister for Steel and Heavy Industries HD Kumaraswamy on Saturday clarified that his recent statements regarding subsidy to US firm Micron Technology in Gujarat were misquoted. Highlighting the strategic importance of developing the semiconductor sector in India, he stressed the need to create jobs for small-scale industries through this initiative. Kumaraswamy said, “Bringing the semiconductor sector to India is of strategic importance. We need this and we need to create jobs for our small-scale industries. I was misquoted and did not mention any condition. I need to be careful in the future.”

Kumaraswamy’s remarks came after reports questioned the investment in Micron Technology’s $2.5 billion semiconductor unit in Gujarat, which could receive a subsidy of Rs 3.2 crore per job created. He explained that while the new manufacturing facility would create around 5,000 jobs with a subsidy of $2 billion, he questioned the wisdom of allocating such significant funds compared to the benefits provided to small-scale industries in areas such as Peenya in Bengaluru.

On assuming office as steel minister on June 10, Kumaraswamy reflected on the disparity in benefits between large investments and small-scale industries, stressing the need to protect the nation’s wealth. He noted that small industry has created significant jobs and deserves similar attention and support.