Semiconductor Industry
Global semiconductor body SEMI and its counterpart IESA have announced a strategic agreement to boost the industry’s ecosystem in India. Under the agreement, India Electronics and Semiconductor Association (IESA) will become part of SEMI, a joint statement said. SEMI is the organiser of SEMICON events including ‘SEMICON India’. Ajit Manocha, President and Chief Executive Officer (CEO) of SEMI, said, “This partnership will help SEMI build a strong presence in this important emerging market and enable both organisations to identify concrete strategies that leverage our combined strengths to enhance supply chain robustness.”
India will benefit a lot
The agreement was signed during SEMICON India 2024, a statement issued on Wednesday said. The agreement will also pave the way for joint policy advocacy efforts, in which IESA and SEMI will work closely with the central and state governments to promote incentives for product development and manufacturing and take advantage of key programs such as the production-linked incentive (PLI) and design-linked incentive (DLI) models. IESA President Ashok Chandak said, “This achievement is a big win for India, SEMI and IESA. It will position India to become the powerhouse of global semiconductors, drive economic growth and promote innovation.”
Netherlands company will make big investment
Netherlands-based NXP Semiconductors plans to invest more than $1 billion (Rs 8,400 crore) to double its R&D activities in India in the next few years. Kurt Sievers, Executive Director, President and CEO of NXP, said at Semicon India 2024 on Wednesday that the company is engaging with the entire industry.
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