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FICCI and IESA sign MoU to foster innovation in semiconductor industry

The MoU, signed on April 14, establishes a framework for long-term collaboration between the two organisations.
Last Updated : 15 May 2024, 12:24 IST
Last Updated : 15 May 2024, 12:24 IST

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Bengaluru: The Federation of Indian Chambers of Commerce and Industry (FICCI) and the India Electronics and Semiconductor Association (IESA) have signed a Memorandum of Understanding (MoU) to promote innovation, support the semiconductor and electronics industry, and strengthen supply chains.

The MoU, signed on April 14, establishes a framework for long-term collaboration between the two organisations.

"This collaboration will focus on establishing a joint task force on semiconductors and future critical technologies. The core objective of this MoU is to conduct technology consultative roundtables and foster business partnerships," said S K Pathak, secretary general of FICCI, in a press release.

Ashok Chandak, president of IESA, expressed optimism during the MoU signing and said, "By leveraging IESA’s domain expertise and FICCI’s influential member network, we are poised to significantly increase investments from Indian conglomerates in the semiconductors and electronics sectors."

Veerappan, chairperson of IESA, added, "Together, we will unlock new growth frontiers and propel the nation’s semiconductor and electronics industries to unprecedented heights with increased local value addition and self-reliance in India."

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Published 15 May 2024, 12:24 IST

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