Saturday, February 15, 2014: Manufacturers’ Association for Information Technology has reportedly welcomed the Indian Cabinet’s decision to set up its own semiconductor manufacturing units. The move is likely to cater to the domestic demand for hardware manufacturing and also act as an export hub. MAIT hopes that the consortia chosen to set up the fabrication units should complete the projects in time.
Amar Babu, president, MAIT said, “Considering the fact that more than 65 per cent of current demand for electronic products in India is met by imports, the recent policy initiatives of the government to set up fab manufacturing and semi-conductor units will transform the Indian electronics manufacturing sector and create opportunities for Electronic Design and Manufacturing (ESDM),” in an IBNLive report.
The Cabinet has approved setting up of two semiconductor units entailing investments of Rs. 515.5 Billion and will now prepare a detailed project report. It has announced to issue a letter of intent to the participants. This recent development has a positive impact over the country’s economy and will generate incentive of employment for the people. It strongly sends a positive signal to the various investors in the country.
