Micron Technology Inc is close to committing at least $1 billion towards setting up a chip packaging factory in India, Bloomberg News reported on Friday.

An announcement could be made when Prime Minister Narendra Modi visits the U.S. next week, according to the report, citing people with knowledge of the matter, one of whom said that the money promised could also rise up to $2 billion.

Micron did not immediately respond to a Reuters request for comment.

  - Reuters