India's semicon policy to be revised soon

This was hinted by Department of Information Technology Secretary Shashi Kant Sharma while addressing  a session on “MSME’s the growth drivers for Indian IT,” on the first day of BangaloreIT.biz 2010.

“We have to have a revised and more forceful scheme for the semi-conductor industry with more incentives and support,” Sharma said. Further he added that India has limited number of semiconductor manufacturing facilities and research and development activity in this segment is in the nascent stage.

To create an ecosystem for semicon manufacturing, the DIT is also planning to set up a dedicated fund for R&D and Intellectual Property Rights promotions. According to a recent report on the market potential for electronic hardware, domestic consumption for electronics is likely to reach $400 billion by 2020 and that to meet this demand local electronics production needs to be scaled up.