Govt hires Accenture to lure $10-bn chip investment
The government has hired Accenture, the world’s second-biggest technology-consulting company, to help attract as much as $10 billion of investment in semiconductor manufacturing.business Updated: Jun 07, 2012 02:11 IST
The government has hired Accenture, the world’s second-biggest technology-consulting company, to help attract as much as $10 billion of investment in semiconductor manufacturing.
The government is seeking companies that can offer technology expertise and set up fabrication units, Accenture said in a statement on Tuesday.
The country wants to meet the growing demand for computer hardware and cut its reliance on imports, said Satya Gupta, chairman, India Semiconductor Association.
Sales of electronics and computers may surge 31-fold to $400 billion in eight years, according to estimates by the IT and communications ministry.
“Setting up factories is critical to the growth of the Indian economy, because demand for electronic goods is growing exponentially every year,” said Gupta. “It’s about time India takes that step forward.”
Accenture will help the Indian government assess companies interested in building fabrication units locally and develop business proposals, according to the statement.
However, infrastructure, which lags behind those offered by leaders in chip making, may thwart plans by the government, said Kishore Suratkal, a semiconductor analyst with Religare Capital Markets in Hong Kong. “The biggest shortcoming would be India’s lack of infrastructure, though there’s no dearth of engineering talent,” said Suratkal. “India has been trying to gain expertise in chip manufacturing for a long time.”
The Washington Post
First Published: Jun 06, 2012 22:01 IST