New Delhi, May 20 -- Consumers should brace for higher memory chip prices over the next 12 to 18 months, as no significant new manufacturing capacity is expected to come online in the near term, a senior official of the India Electronics and Semiconductor Association (IESA) warned on Wednesday.

Supply Gap Fuelling Price Pressure

IESA President Ashok Chandak speaking on the sidelines of a Bharat Digital Infrastructure Association event, stated that establishing a memory fabrication plant is a time-intensive process and cannot be accelerated on short notice.

Chandak said, "Memory makers can not set up a plant in a few days. We are not seeing any significant capacity coming up in the next one and a half years. There will be a price rise d...