India memory chip shortage raises device prices by 20%-30%
If you've noticed smartphones and other gadgets getting more expensive lately, you're not imagining it.
India is facing a memory chip shortage that's already bumped device prices up by 20% to 30% in just the past six months.
Ashok Chandak from the India Electronics and Semiconductor Association says this trend might stick around for the next 12-18 months, since building new chip factories takes time and Micron's India memory capacity is fully booked.
ISM 2.0 to cut imports
Global supply chain hiccups, like geopolitical tensions and raw material shortages, are making things tougher for chip makers.
But there's hope: the new India Semiconductor Mission (ISM) 2.0 aims to strengthen local production and cut down on imports.
Chandak believes bigger incentives than before are needed, especially with demand for AI-powered tech still rising fast.