First made-in-India semiconductor chips to come by Dec 2024: 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.

The minister said 4-5 semiconductor plants are expected to be set up in the country 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.

Computer storage chip maker Micron will set up its semiconductor assembly and test plant in Gujarat entailing a total investment of $2.75 billion (around Rs 22,540 crore),

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.