Policy on semi-conductor manufacturing soon

NEW DELHI: With an objective of making India a preferred destination for the manufacturing of semi-conductors and other high technology IT products including Wafer; Assemble, Test and Manufacturing of semi-conductors; Flat LCD/OLED/Plasma Panel Displays; and Storage Devices, the ministry of IT will announce a policy shortly.

This was stated by P. Chidambaram, finance minister while presenting the General Budget 2006-07 in Parliament today.

Finance Minister also proposed to use the existing vehicles of viability gap funding and the India Infrastructure Finance Company Limited to create a window to provide equity participation and or viability gap funding to new ventures. The window will open for three years in order to accelerate investment, he added.