FICCI and IESA Collaborate to Drive Semiconductor Innovation

FICCI and IESA signed an MoU to promote innovation and support the semiconductor and electronics industries in India. The collaboration will establish a joint task force and foster business partnerships to enhance investments and local value addition in these sectors.

PTI | Bengaluru | Updated: 15-05-2024 16:49 IST | Created: 15-05-2024 16:49 IST
FICCI and IESA Collaborate to Drive Semiconductor Innovation

The Federation of Indian Chambers of Commerce and Industry (FICCI) and the India Electronics and Semiconductor Association (IESA) have signed a Memorandum of Understanding 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.''

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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