Monday, September 16, 2013: Hindustan Semiconductor Manufacturing Corp., the firm which has received an in-principle nod for establishing an electronic chip making unit hailed present policies of the government, especially the policy that provides preference to domestic manufacturer. It stated that this will be of help to chipmakers.
This firm, which is founded by a group of Non Resident Indians (NRIs) of Silicon Valley, along with France-based ST Microelectronics and Silterra (Malaysia) is one of consortia that has received a green signal for building the proposed Rs 252.5 billion (Rs 25,250 crore) fab unit.
According to Deven Verma, Founder and Chairman apart from commercial vision, an emotional connect has goaded HSMC and its partners towards India.
More than 90 per cent of the domestic electronic requirements are fulfilled through imports due to lack of electronic chip manufacturing or semiconductor wafer fabrication plant in the country.
With respect to government procurement, notification has already been issued by the government but the one related to private sector procurement is presently under inter-ministerial consultations. On completion, it will be presented before the government for its approval.
The other consortium that has received government go ahead is spearheaded by Jaiprakash Associates in association with IBM to set up their fab unit. Verma stated that Indians have donned a major role in the development of most of the leading semiconductor firms companies or electronic chips.
