Bangalore, Sep 21 (UNI) The India Semiconductor Association (ISA), the trade body representing the Indian semiconductor driven industry, has received with optimism, the announcement of the Special Incentive Package Scheme (SIPS) to encourage investments for the establishment of semiconductor fabrication and other micro and nano technology manufacturing industries in India.
ISA Chairman S Janakiraman in his reaction to the announcement of the new scheme expressed hope that the guidelines would be one more point of advantage for India.
''We have a large market and if domestic high tech manufacturing can capitalise on it, it will only augment the growth of our economy'' he said stating that ISA was looking forward to at least one major announcement in the course of this year.
ISA President, in a release here said ''with design complexities increasing, the interconnect or the coordination that is needed between design and manufacturing is increasing very quickly. India today is doing infinitely complex designs. Having a fab will definitely help in terms of the whole ecosystem building up. I am optimistic about the benefits of the guidelines to the entire industry''.
High-tech manufacturing was becoming a key area of focus for both the Government of India and Industry. The Indian electronics driven industry was not just looking at expanding development operations in India, but was also ready to meet the local market demand.
In addition, it was also actively scouting for business partnerships in new markets overseas. In such an environment, the presence of manufacturing operations in India would complete the ecosystem.