To foster collaboration and identify potential opportunities between India and the US in the semiconductor sector, a Memorandum of Understanding (MoU) has been signed between the Semiconductor Industry Association (SIA), the US semiconductor industry, and its Indian counterpart the India Electronics and Semiconductor Association (IESA).
Under the MoU, both associations will assist each other as the main counterpart organization on semiconductor-related matters within India and the United States and will co-organize meetings between member companies to promote cooperation on issues of mutual interest.
The MoU is significant in the backdrop of the announcement by the Indian Ministry of Electronics and Information Technology last week to form a 17-member committee to steer India’s semiconductor mission to enable the building of a resilient supply chain, promote investments and ways of financing the semiconductor sector.
As part of the ‘Make in India’ initiative, India has also recently announced the ‘India Semiconductor Mission’ (ISM) with an aim to build a vibrant semiconductor and display ecosystem to enable India’s emergence as a global hub for electronics manufacturing and design.
Both organizations will also co-organize joint events (virtual or in-person) to explore potential opportunities for U.S.-India cooperation within the global semiconductor value-chain.
Commenting on the MoU, John Neuffer, President and CEO of SIA, said, “This MoU will help SIA establish and build relationships with key stakeholders and, for our members, gain a better understanding of the market in India.”
“We look forward to India working towards an even more competitive policy environment and intellectual property regime fortified with transparency and predictability that promotes trade policies designed to help this great economy more deeply integrate with the global value chains in our sector,” added Neuffer.
Rajeev Khushu, Chairman of IESA, commented, “Our strengths are complementary and we have immense opportunities to grow the semiconductor ecosystem in India and globally. IESA wants to ensure global semiconductor companies are successful in India while also helping local semiconductor startups and service companies build products for domestic and global markets . IESA’s Initiatives around the semiconductor manufacturing supply chain, readiness of states and skilling will help SIA members establish and build relationships with key stakeholders, and identify investment opportunities. Further, SIA’s global reach will help IESA members explore opportunities and expand beyond India.”
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