India to launch domestic semiconductor chips by December 2024: union minister
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New Delhi: Union Minister for Electronics and Information Technology, Ashwini Vaishnaw, announced that the "Bhoomi Pujan" (groundbreaking ceremony) for India's first semiconductor plant has taken place in Gujarat.
This milestone aligns with Prime Minister Narendra Modi's vision for a self-reliant India.
Vaishnaw expressed confidence in the swift completion of the semiconductor plant's construction, with the first indigenous microchips expected to roll out by December 2024, reported ANI.
He highlighted the remarkable progress made by India's electronics industry under PM Modi's leadership, noting that the manufacturing cost of mobile phones in India has surged from Rs 17,000 crores in 2014 to Rs 3,65,000 crores. The electronics industry, once valued at Rs 1,90,000 crores, has expanded to Rs 8,30,000 crores, and exports have increased fivefold, reaching Rs 2,00,000 crores.
Semiconductor chips have been a key driver of these advancements, positioning India as a significant player in semiconductor technology. The semiconductor mission, initiated in December 2021, aims to bolster India's presence in semiconductor technology.
In line with this vision, global semiconductor giant Micron announced plans to invest USD 825 million in constructing a new assembly and test facility in Gujarat, supporting both domestic and international demand.
This facility, located in the Sanand Industrial Park, Gujarat Industrial Development Corporation (GIDC), leverages Gujarat's robust manufacturing infrastructure, business-friendly environment, and skilled talent pool.