The main goals of this partnership are to foster innovation, strengthen the semiconductor and electronics industry, and reinforce supply chains.
On Tuesday, the India Electronics and Semiconductor Association (IESA) and the Federation of Indian Chambers of Commerce and Industry (FICCI) formalized their partnership by signing a Memorandum of Understanding (MoU). This agreement aims to advance the semiconductor and electronics industries, strengthen supply chains, and promote the development of the ecosystem in India, with a significant global impact.
The MoU marks a collaborative effort to enhance critical and emerging technologies in India. According to SK Pathak, Secretary General of FICCI, the partnership will focus on establishing joint task forces on semiconductors and future critical technologies, as well as conducting technology consultative roundtables and fostering business partnerships. These initiatives form the core objectives of the MoU.
Ashok Chandak, President of IESA, emphasized the importance of this strategic partnership with FICCI in elevating India’s position as a global leader in electronics design and manufacturing. He noted that the collaboration between IESA’s expertise and FICCI’s extensive member network holds the potential to significantly boost investment opportunities for Indian conglomerates in the semiconductor and electronics sectors.
Dr Veerappan, Chairperson of IESA, added that the partnership aims to unlock new growth opportunities and propel India’s semiconductor and electronics industries to new heights. He highlighted the importance of increasing local value addition and fostering India’s self-reliance in these crucial sectors.
