IESA signs MoU with Singapore Semiconductor Industry Association
India Electronics and Semiconductor Association (IESA), the trade body representing the Indian Electronic System Design and Manufacturing (ESDM) industry, has signed a Memorandum of Understanding (MoU) with Singapore Semiconductor Industry Association (SSIA) with an objective to establish and develop trade and technical cooperation links between the electronics and semiconductor industry of both countries.
India and Singapore are two countries with varied strengths and opportunities in their respective ESDM industries. India has a huge domestic ESDM market, but lacks adequate manufacturing capacity. The demand-supply gap is expected to widen upto US$300 billion by 2020 as the ESDM Industry size is expected to reach US$400 billion while local production and services is estimated to be around US$100 billion.
On the other hand, Singapore is one of the leading country in manufacturing of electronics products and semiconductors. With approximately 40 IC design companies, 14 silicon wafer fabs and 20 assembly and test units, Singapore nurtures an end-to-end ESDM ecosystem.
Speaking on the occasion, Ashok Chandak, Chairman, IESA and Sr. Director NXP Semiconductors, said, “Through this MOU and the Whitepaper on India-Singapore ESDM industry collaboration opportunities, the member companies of both associations can harness the business potentials and strengthen the trade and Investment promotions between Singapore and India.”
Commenting on the collaboration, Meenu Sarin, Hon. Asst. Secretary, SSIA& Director, VLSI Consultancy, said, “Through this partnership, we aim to establish contacts between organizations and encourage reciprocal visits of official business persons and technical specialists between the two countries. Our endeavor will be to maintain a continuing exchange of information, investment promotion and harnessing a healthy environment for research and development as well as business opportunities between the two countries.”
