He said in the statement that the Memorandum of Understanding (MoU) is a strategic step to promote collaboration and synergy between the two entities with the aim of enhancing the Indian semiconductor ecosystem and global partnership.

This collaboration will connect Indian stakeholders to the global semiconductor manufacturing and design supply chain, addressing areas such as manufacturing enabling policies, design, skills, R&D, education and supply chain.

“We hope that our collaboration with multiple partners at ‘SEMicon India 2024’ in September will act as a catalyst in these efforts,” said Ajit Manocha, President and CEO of SEMI.

SEMI represents more than 3,000 member companies across the semiconductor design and manufacturing supply chain.

The partnership also aims to use research data to further these goals.

“As we stand on the cusp of an unprecedented transformation, the MoU between IESA and SEMI is a significant moment for India's semiconductor industry,” said Ashok Chandak, President, IESA.

This collaboration will enable both the organizations to leverage their programs to meet, forge new partnerships and advance the emerging Indian manufacturing and design ecosystem.

"This strategic partnership symbolizes our collective resolve to advance India into the global semiconductor orbit by utilizing SEMI's extensive international network and IESA's deep expertise in the Indian ESDM industry," Chanda said.

According to Dr. Veerappan, Chairperson of IESA, “We are ready to open unprecedented opportunities for growth, collaboration and technology advancement between Indian and global players.”