Govt to announce semi conductor policy soon: PM

Sriperumbudur, Tamil Nadu, Nov 4 (UNI) Prime Minister Manmohan Singh today said the United Progressive Alliance (UPA) Government would soon announce a policy for the semi conductor industry.

Speaking after inaugurating the Flextronic Industrial Park here, Dr Singh said according to a study conducted by the Indian Semi Conductor Association, the Indian Electronics and IT Market would grow from 28 billion dollars in 2005 to 363 billion dollars by 2015.

A major part of this would be hardware including semi conductor chips, he said.

''It is essential for us to develop semi conductor fabrication capabilities to support this sector's growth. Government will be announcing a policy for the support of the industry soon'', he added.

He also announced that the government would follow a forward-looking policy that would continue to encourage the telecom sector and promote new investment, create new employment and generate new busines opportunities.

The Prime Minister said, ''The government will reduce tariff on 217 IT items to zero per cent, as committed at the WTO. This will promote greater competition, which in turn, will help the development of Indian Electronics Industry''.

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