The Semiconductor Industry Association (SIA), the top trade association representing the US semiconductor industry, on Tuesday signed a memorandum of understanding (MoU) with the India Electronics and Semiconductor Association (IESA), to identify potential opportunities between the two countries in the semiconductor sector.
Headquartered in Washington D.C., SIA represents 99 per cent of the US semiconductor industry by revenue and nearly two-thirds of non-US chip firms.
Under the MoU, both associations will assist each other as the main counterpart organisation on semiconductor-related matters within India and the US and will co-organise meetings between member companies to promote cooperation on issues of mutual interest.
Both organisations will also co-organise joint events (virtual or in-person) to explore potential opportunities for US-India cooperation within the global semiconductor value-chain.
John Neuffer, President and CEO of SIA, said, “We are delighted to sign this MoU with IESA and welcome India’s goal to become both a more powerful digital economy and a hub for electronics and semiconductor innovation within the broader global value chain. This MoU will help SIA build relationships with key stakeholders and, for our members, gain a better understanding of the market in India.”
Rajeev Khushu, Chairman of IESA, said, “I am excited about the close collaboration between SIA and IESA formalised by the MoU. 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 start-ups and service companies build products for domestic and global markets.”
He added, “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.”
According to IESA, the MoU is significant in the backdrop of the announcement by the 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.
April 12, 2022