By the end of 2024, India will have its first memory chip made in the country.

At the Vibrant Gujarat Global Summit 2024, South Korea's Simmtech announced an investment of INR 1,250 Cr in Gujarat. Union Minister of Information Technology and Electronics Ashwini Vaishnaw stated that Gujarat will provide India with its first memory chip produced domestically by the end of the current year.A Memorandum of Understanding (MoU) was signed by Simmtech, a company that makes high-layer printed circuit boards for semiconductors, and the Gujarat government, proposing to establish a plant in the state to strengthen the semiconductor ecosystem.In accordance with the terms of the MoU, Simmtech would invest around INR 1,250 Cr to establish operations and assist Micron's semiconductor plant in Gujarat. According to Vaishnaw, the plant's setup will begin in March.It's important to remember that semiconductor giant Micron stated last year that it would establish an assembly and testing facility in Sanand, Gujarat. According to a report from Mint, Simmtech CEO Jeffrey Chun stated that the business is prepared to increase its investments in India. It anticipates more than 1,000 direct and indirect job opportunities from its Gujarat plant.In September of last year, Simmtech's plan to establish a unit in Sanand, near Micron's facility, was approved. Vaishnaw stated at the summit, "The Simmtech plant will be located close to Micron's semiconductor plant, which is currently being established at Gujarat Industrial Development Corporation's (GIDC) industrial estate in Sanand.

" In the meantime, Micron and NamTech signed an agreement to develop talent for Micron's Indian semiconductor business. More than 200 workers have already been hired by the US company for its plant there.The minister continued, "I would like Micron to work with IIT Gandhinagar to establish a center of excellence, which will help in building a robust talent pipeline." This development coincides with a period in which the Indian government is making every effort to get semiconductor businesses to establish production facilities in India. The Center has implemented several initiatives to foster the growth of the semiconductor industry in the nation, including the design-linked incentive program and a $10 billion commitment to the India Semiconductor Mission (ISM).A group of experts has also suggested that the nation establish a $8 billion worldwide standard India Semiconductor Research Center.

It was predicted that by the end of 2023, there would be 50 Indian startups operating in the semiconductor industry. The Center also considered assisting new businesses in forming professional partnerships with multinational semiconductor manufacturers.