Kapil Sibal releases reports on Indian Semiconductor Industry

Union Minister for Science and Technology and Ocean Development, Shri Kapil Sibal today emphasized the need to assess the future economic scenario and create environment conducive to the growth of knowledge economy. Releasing the Reports on the Indian Semiconductor Industry prepared by Frost & Sullivan in New Delhi today, he said, semiconductor is to knowledge economy today what oil was to industrial economy. Underlining the importance of the sector, the Minister observed that every consumer item has a chip in it and suggested a three-pronged strategy for its development. This he said, may include creation of fiscal incentives, building manufacturing capacities and impetus to design embedded software as well as hardware. Shri Sibal said the reports show that though India is one of the leading centers of technology and growing at a phenomenal rate, we do not have a “Lab” facility, a fabrication city to intensify big players in the global market to come to India.

The reports have projected a market of over 36 billion dollars by 2015 for semiconductors in India. The study also shows that India accounts for barely one percent of global semiconductor revenues, which co-related well with India’s global share of electronics production of one percent.

Source : Ministry of Science & Technology
Date : February 02, 2006