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The Semiconductor Industry Association (SIA), the top trade association representing the U.S. semiconductor industry, signed a Memorandum of Understanding (MoU) with the India Electronics and Semiconductor Association (IESA), the premier trade group representing India鈥檚 semiconductor and electronics systems design and manufacturing industry, to foster collaboration and identify potential opportunities between the two countries in the semiconductor sector.

Headquartered in Washington DC, SIA represents 99 per cent of the US semiconductor industry by revenue and nearly two-thirds of non-U.S. chip firms, while IESA is the premier Indian trade body committed to the development of a vibrant Indian semiconductor and Electronics System Design and Manufacturing (ESDM) ecosystem and promoting Brand India.

Under the MoU, both associations will assist each other as the main counterpart organisation on semiconductor-related matters within India and the United States and will co-organise meetings between member companies to promote cooperation on issues of mutual interest.

Both organisations will also co-organize joint events (virtual or in-person) to explore potential opportunities for U.S.-India cooperation within the global semiconductor value chain.

Commenting on the MoU, John Neuffer, President and CEO of SIA, said, 鈥淲e are delighted to sign this MoU with IESA and welcome India鈥檚 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 establish and build relationships with key stakeholders and, for our members, gain a better understanding of the market in India.鈥�

鈥淲e look forward to India working towards an even more competitive policy environment and intellectual property regime fortified with transparency and predictability that promotes trade policies designed to help this great economy more deeply integrate with the global value chains in our sector,鈥� added Neuffer.

Rajeev Khushu, Chairman of IESA, commented, 鈥淚 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. IESA鈥檚 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鈥檚 global reach will help IESA members explore opportunities and expand beyond India.鈥�

The MoU is significant in the backdrop of the announcement by the Indian Ministry of Electronics and Information Technology last week to form a 17-member committee to steer India鈥檚 semiconductor mission to enable the building of a resilient supply chain, promote investments and ways of financing the semiconductor sector.

IESA is also releasing two ground-breaking reports 鈥� the India Semiconductor Industry Report and the Semiconductor Manufacturing Supply Chain Report, which spotlight the immense opportunities for India and for the first-time deep dive into different aspects of the global semiconductor manufacturing supply chain where the Indian Industry can add significant value.

As part of the 鈥楳ake in India鈥� initiative, India has also recently announced the 鈥業ndia Semiconductor Mission鈥� (ISM) with an aim to build a vibrant semiconductor and display ecosystem to enable India鈥檚 emergence as a global hub for electronics manufacturing and design.