Bangalore, Feb 18(UNI) Union Minister of State for Commerce, Jairam Ramesh, today said India was emerging as a major destination for Semiconductor Industry and it had already received commitment of USD Seven billion of investment.
Speaking at the India Semiconductor Association(ISA) 'Vision Summit' here, he said the Fab City, coming up near Hyderabad, had attracted top semiconductor companies to manufacturer mainly photo voltaic products.
"Important among these companies include Sem India, which has made a commitment to invest three billion Dollars, Nanotech Silicon India (two billion Dollars) and Solar Semiconductor India (one billion Dollars) investment," he said.
He however advised the semiconductor industry to ensure that the it was driven by the public domain. The main drivers for the semiconductor industry in India would be the mobile phone, personal computer and automobile markets, he said.
The Minister said the country was consuming seven million new cell phone sets every month out of which 45 per cent was produced within India.
"The ratio will go up to 80 per cent in short time and this means a lucrative market for the country's semiconductor industry. The PC market has seen a sales of 7.25 million PCs last year. Automobile sector, which is one of the fastest growing industry, will be the other which offers you a good market," he said.
He stressed the need for the industry to keep in mind the environment and be competitive edge against the cheap imports.
"We have to bring down the emission of green house gases (GHG) though we are not yet on the watch list of the first stage of Kyoto Protocol," he said MORE UNI RS MV RKN1532