Manufacturers’ Association for Information Technology (MAIT), the apex body actively representing ICT Manufacturing, Training, IT, Design, R&D and associated services sector welcomed the cabinet’s decision of setting up of two semiconductor manufacturing facilities in India.
Commenting on this much needed approval, 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). It will cater to the domestic demand for hardware manufacturing and also act as an export hub. We at MAIT, hope that the consortiums chosen to set up fabrication units complete the projects in time. This development would also have a positive impact on our economy and generate employment besides sending right signals to the investors.”
The Cabinet has approved setting up of two semiconductor units entailing investments of Rs. 51,550 crore and will now prepare a detailed project report and has announced to issue a letter of intent to the participants.
Applauding this decision, Anwar Shirpurwala, Executive Director, MAIT, said, “India will play a vital role in facilitating the growth of electronics and semiconductor ecosystem. Recent approval given by the government to set up two semiconductor units with an investment of Rs 51,550 crore gains traction. This would begin an era in India to build technological capabilities, promote innovation and enhance manufacturing capabilities in India. Many members of MAIT have already set up manufacturing facilities and look for local source for the semiconductor ecosystem.”