Union Minister for Communications and IT, Ashwini Vaishnaw, announced on Friday that the first Made-in-India semiconductor chips are set to be rolled out by December 2024. Vaishnaw also revealed plans for the construction of 4-5 semiconductor facilities in the country within the next year.
Key Points
- The first Made-in-India chip is scheduled to be released by December 2024, according to Union Minister Ashwini Vaishnaw.
- Land allocation, factory design work, and tax compliance-related agreements for the Micron semiconductor plant in Gujarat have been finalized.
- The Micron Technology company plans to invest up to $825 million in a new chip assembly and test facility in Gujarat, marking its first factory in India.
- The Indian government and the state of Gujarat will contribute 50% and 20% respectively towards the total investment of $2.75 billion in the factory.
- Construction of the Micron facility is expected to commence in 2023, with the first phase becoming operational by late 2024.
- The plant is projected to create up to 5,000 direct jobs and 15,000 community jobs in the coming years.
Data Table: Micron Semiconductor Plant Investment
| Investment Source | Amount |
|---|---|
| Micron Technology | $825 million |
| Central Government | 50% of total |
| State of Gujarat | 20% of total |
| Total Investment | $2.75 billion |
Conclusion India is poised to achieve a significant milestone with the production of its first domestically manufactured semiconductor chips by December 2024. The upcoming Micron semiconductor plant in Gujarat, supported by substantial investments from both the Indian government and the state of Gujarat, will play a pivotal role in this endeavor. The initiative is expected to boost the country’s technological capabilities and foster job creation, ultimately contributing to India’s overall economic growth.
(With inputs from PTI)
