Friday, March 1, 2013

Cadence on Union budget 2013

Jaswinder S. Ahuja, corporate VP and MD, Cadence Design Systems

INDIA: We commend Union Finance Minister P. Chidambaram for making key decisions about critical areas like infrastructure, agriculture and education that will aid in the overall growth of the economy and benefit the common man.

We are pleased to note that the budget provides incentives to the semiconductor industry in the form of import duty waivers on plants and machineries for companies looking to set up domestic fabrication units.

The provisions of the National Policy on Electronics announced last year and this incentive are the first steps to kickstarting local manufacturing and accelerating the growth of the Indian electronics eco-system.

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