Chennai, Sept 10: The Centre would announce a package that would lay out a policy decision on promoting hardware manufacture in the country after the Prime Minister returns from his visit abroad, Union Finance Minister P. Chidambaram said here on Sunday.

The Finance Ministry and the Information Technology and Communications Ministry, administered by another minister from the state, Dayanidhi Maran, would work together for announcing its decision, Chidambaram told media persons during the launch of an integerated chip by SPEL Semiconductor.

“In course, India must become a country with complete manufacturing capability, promoting end-to-end knowledge economy models by setting up chip design and fabricating facilities that can equal any other in the world,” he said.

India should also look at developing research and development (R&D) capability, he said.  “How long will we remain a knowledge-borrowing society? R&D is the heart of any technical business.  We must become a knowledge-producing society,” he said.

Even as he commended the contribution of software exports to the country’s economy, Chidambaram was also “cautious of the over-emphasis bestowed on the sector.

Though the sector was absorbing a large number of engineering graduates, often “mining, textile and other engineering graduates are converted into software engineers.  If this continues, who will work in our refineries, build our dams and man our mines?” he rued.

He stated categorically that his primary concern was maintaining and increasing the growth momentum that India had been witnessing. “I am willing to tolerate any debate or dissent so long as the grow rate is not affected,” he said.

Earlier, the minister launched leadless moulded packages, manufactures by SPEL Semiconductor at its facility at Maraimalai Nagar. Chidambaram handed over a newly-manufactured chip to Alex Hui, the president and CEO of Pericom Semiconductor Corporation.

The senior executive of the company claimed the new product would aid the existing portfolio in scripting success in the near future.

Ar. Rm. Arun, vice president SPEL also unveiled the ambitious USD 250 million expansion plan, spread over the next five years, that includes setting up a 25 acre Special Economic Zone adjacent to the present manufacturing unit.

Chairman of Indian Overseas Bank, T.S. Narayanasamy, industrialist and SPEL chairman A.C. Muthiah and CEO Sam Verghese also took part in the function.