German-based Temic Semiconductors has shelved its proposed joint venture plan to set up manufacturing operations in India.
According to YK Gauba, director of India operations at Temic (India), the company sees a recessionary trend in Indian hardware market due to politcal uncertainty. "The market in India is not picking up, though the integrated circuits (ICs) market has been recording a nominal growth."
According to him, the size of the hardware industry in India is about $330 million, of which domestic production accounts for only $57 million. There is a demand for production of about $300 million a year. The decision to abandon the programme to set up subsidiary in the country reverses earlier plans but Gauba said: "Temic Semiconductors has now selected China as its prime location catering to the Asia-Pacific market, and put up two manufacturing facilities there."
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