First Made-in-India semiconductor chips to be out by Dec 2024, says Union Minister Ashwini Vaishnaw

First Made-in-India chips are expected to be rolled out by December 2024, Union Minister for Communications and IT Ashwini Vaishnaw said on Friday. He said, 4-5 semiconductor facilities are anticipated to be built in the nation within a year.

"First Made-in-India chip will be out by December 2024," Vaishnaw said while briefing media following a joint statement issued by US President Joe Biden and Prime Minister Narendra Modi in the US.

He said that land allocation, factory design work and tax compliance-related agreement for the Micron semiconductor plant to be set up in Gujarat has been completed.

"First Made-in India chip from Micron is expected to come out in about six quarters from now," Vaishnaw said.

American chip maker Micron Technology announced on June 22 that it would invest up to $825 million in a new chip assembly and test facility in Gujarat. It will be the company's first factory in the country.

With support from the Centre and Gujarat govt, the total investment in the factory will be $2.75 billion, Micron said. Of this, 50 per cent contribution will come from the Central government and 20 per cent from the state of Gujarat.

Micron earlier said, the construction of the facility in Gujarat is expected to start in 2023. The first phase of the project will likely be operational in late 2024, it added.

The total cost of the plant comprises $825 million from Micron and the rest from the government in two phases. Phased construction of the facility is expected to begin in 2023. Phase 1, which will include 500,000 square feet of planned clean room space, will be operational in late 2024.

Micron has said the plant will create up to 5,000 new direct jobs and 15,000 community jobs over the next several years.

(With inputs from PTI)