New Delhi: Union Minister for Communications and IT Ashwini Vaishnaw On Friday said that the first Made-in-India chips are anticipated to be rolled out by December 2024.

Adding further, Minister told that 4-5 semiconductor plants are awaited to be set up in the country within a period of one 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.

Vaishnaw said while speaking on the matter that the land allocation, factory design work and tax compliance in relation to the agreement for the Micron semiconductor plant to be built in Gujarat is now completed.

Micron which is a computer memory chip maker company is ready to set up its semiconductor assembly and test plant in Gujarat worth Rs 22,540 crore.

The plants’ total investment, is to come from two different sources; First part is to be sourced through Micron amounting to Rs 6,760 crore for the project, whereas, the remaining part of the investment will come through the government in two phases.

Due to the establishment of the assembly and test plant, huge employment opportunities counting up to 5,000 new direct jobs and 15,000 community jobs will be generated over the coming years.

Earlier, Union Minister for IT and Telecom Ashwini Vaishnaw told that Micron’s investment to set up manufacturing plants in India will give India’s semiconductor industry a new platform by spawning high-tech and construction jobs.