Hyderabad offers a conducive ecosystem for the semiconductor (chip manufacturing) and allied industries due to a skilled talent pool, stated Telangana’s IT and industries minister Duddilla Sridhar Babu during a meeting with representatives of the PTW Group’s Asia division on Monday. The group specialises in tools, components, refurbishment, automation and equipment supply for the semiconductor industry and has its regional headquarters in Singapore.
The minister assured the delegation that the government was ready to provide incentives and subsidies under its policies to facilitate their setup in the region. He welcomed the company to submit concrete proposals, reiterating the state’s commitment to supporting their venture. He also emphasised the government’s focus on creating a semiconductor cluster in Hyderabad to attract more investments in this critical sector.
Speaking about their plans, Torsten Seifried, managing director of PTW Asia, said that the company is prepared to invest Rs 1,000 crore in the first phase of setting up a production facility, and the initiative would be a significant step in strengthening India’s semiconductor manufacturing capabilities. The meeting also included discussions with the company’s local partner N. Vidyasagar Reddy, managing director of Bartronics, and Rao Panidapu, CEO of Singapore-based consulting firm Top2 PTE Ltd. Deccan Chronicle