Special Correspondent

`A step in the right direction' It will motivate global investors to come to India to set up semiconductor units: Vinod Agarwal

HYDERABAD: Chairman and CEO of SemIndia Vinod Agarwal, who had entered into an MoU with the State Government for the establishment of Fab City (high-technology manufacturing cluster) in Hyderabad, lauded on Thursday the semiconductor policy announced by the Government of India.

In a statement issued here, Mr. Agarwal said: "We are excited that the Government of India has taken a step in the right direction at this crucial juncture." What the software policy 15 years ago had done to the country would be repeated following the announcement of semiconductor policy, he said.

Motivation

Appreciating the role played by the Indian Semiconductor Association (ISA) in convincing the Government about the need for such a policy, Mr. Agarwal said that it would motivate global investors to come to India to set up semiconductor manufacturing units.

Bob Kondamoori, managing partner of Sandalwood Partners, a venture capital company, urged the Government to follow up the semiconductor policy with a right implementation mechanism.

President of Indian Semiconductor Association Poorima Shenoy said the policy would provide a fillip to the growth of semiconductor and electronics industries. Chairman of the ISA Rajendra Kumar Khare said: "ISA has been working with various Government departments to make this policy happen and we are delighted to see our efforts bear fruit."