FICCI-IESA sign MoU to boost India's semiconductor and electronics industry

May 15, 2024

New Delhi [India], May 15 : India Electronics and Semiconductor Association (IESA) signed a Memorandum of Understanding (MoU) with Federation of Indian Chambers of Commerce and Industry (FICCI) on Tuesday to promote innovation, support the semiconductor and electronics industry, strengthen supply chains, and foster development of the ecosystem in India with global impact.
Both organisations signed the MoU as an initiative to work on and improve critical and emerging technologies in India.
"This collaboration will work on setting up joint task force on semiconductor and critical technologies of the future. Conducting technology consultative roundtables, fostering business partnerships would be the core objective of this MoU" said SK Pathak, Secretary General, FICCI.
Emphasising the significance of the partnership with FICCI in advancing India's status as a global center for electronics design and manufacturing, the President of IESA, Ashok Chandak, said, "This strategic partnership with FICCI is a momentous step in our journey in transforming India into a global hub for electronics design and manufacturing."
He also highlighted the collaborative potential between IESA's expertise and FICCI's extensive member network, noting that this synergy could substantially enhance investment opportunities for Indian conglomerates in the semiconductor and electronics sectors.
"Together, we will unlock new frontiers of growth and propel the nation's semiconductor and electronics industries to unprecedented heights with increased local value addition and India's self-reliance," said Dr Veerappan, Chairperson, IESA.
He also highlighted the importance of increasing local value addition and fostering India's self-reliance in these critical sectors.