The Semiconductor Industry Association has signed a memorandum of understanding with the India Electronics and Semiconductor Association (IESA) agreeing to foster collaboration between the two countries in the semiconductor sector.

Many are interpreting this as a boost to Indian aspirations to becoming a chip manufacturer.

IESA is the premier Indian trade body committed to supporting electronics and semiconductor design and manufacturing in India. Under the MoU, both associations will co-organize meetings between member companies to promote cooperation on issues of mutual interest.

“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,” said John Neuffer, CEO of the SIA, in a statement.

Rajeev Khushu, chairman of IESA, said: “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 startups and service companies build products for domestic and global markets.”

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