MAIT applauds government's decision to approve two semiconductor manufacturing facilities

Manufacturers' Association for Information Technology (MAIT), welcomed government's decision to approve setting up of two semiconductor manufacturing facilities in India.

Applauding this decision, MAIT said "Considering the fact that IT Hardware industry is highly depended upon imports, homegrown chip would help strengthen the electronics ecosystem in the country. The decision will promote manufacturing of indigenously designed and manufactured chips and help the country to reduce dependence on imports. This would also help the existing IT hardware manufacturing to obtain essential IT components at a much lesser cost".

MAIT further emphasized that the IT hardware industry is at an inflection and setting up of fab would not only boost the industry but would also have a positive impact on the Indian economy. This is a much needed step to boost the ESDM industry and gives the industry a reason to celebrate.