Local production will be realized within 18 months, and construction of Meguiar's semiconductor plant in India will start next month.

CTOnews.com, July 6 (Xinhua) India's IT minister plans to achieve local semiconductor production within 18 months in order to promote and expand the technology manufacturing supply chain.

India's first semiconductor assembly plant will break ground next month and start producing the country's first local chips by the end of 2024, according to a senior government official in charge of New Delhi's $10 billion chip manufacturing plan.

Micron Technology, the US semiconductor company, is building a chip assembly and testing plant in Gujarat that will begin construction in August at a cost of $2.75 billion, according to Ashwini Vaishnaw, India's minister of electronics and information technology. (CTOnews.com Note: currently about 19.938 billion yuan).

CTOnews.com previously reported that the central government of India and the government of Gujarat will provide 50% and 20% of the project expenditure respectively under the ATMP (assembly, testing, marking, packaging) plan to support the development of the semiconductor industry, which means that Indian government subsidies account for up to 70% of the total expenditure.

The facility will be built in Sanand, near the city of Ahmedabad, Gujarat, and the new plant will assemble and test manufacture DRAM and NAND products and will create up to 5000 new direct jobs and 15000 community jobs over the next five years.

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