IT dept ropes in Accenture to vet fab investment proposals

Written by fe Bureau | Chennai | Updated: Jun 6 2012, 06:58am hrs
The department of electronics & information technology (DeitY) of the Union government has selected US-based IT consulting major Accenture to review investment proposals from global technology providers and investors interested in building semiconductor fabrication units (fab) in India.

Accenture will work in two phases to help the government assess companies interested in building semiconductor fabrication units in India. The first phase includes the development of a template for business proposals as well as a project appraisal template and a letter of intent detailing terms and conditions. It will then conduct a detailed assessment of the proposals received.

With an investment scope of billions of dollars, this project holds considerable promise for Indian manufacturing, said Krishna Giri, managing partner/director for Accentures Health & Public Services business in India. By bringing together investors, manufacturers and the government, this initiative will help build the critical collaboration that is needed to bridge the gap in domestic semiconductor production.

Semiconductor fabrication is an essential requirement for the domestic manufacturing of electronics and the government has set a goal of attracting investments of $7-10 billion. It is seeking companies that can offer expertise and investment for setting up semiconductor wafer fabrication units.