MIC Electronics Ltd has signed a memorandum of understanding with Singapore-based venture capital firm TOP2 PTE LTD to strengthen India’s semiconductor manufacturing capabilities. Through this collaboration, MIC plans to start wafer production in India, with a target of producing 25,000 to 30,000 wafers per month by partnering with a Taiwanese fabrication company.
“By partnering with TOP2, we will be able to tap into proven global expertise and move at a faster pace on our journey to reduce import dependence and strengthen India’s position in the global semiconductor landscape,” said Rakshit Mathur, CEO of MIC Electronics.
TOP2 has already assisted three Indian companies this year in securing wafer production lines from the United States, Europe and Japan. Speaking about the collaboration, Rao Panidapu, founding partner of TOP2, said, “This partnership with MIC allows us to bring together international expertise and local strength to make sure there is faster execution and greater resilience.”
The agreement aligns with India’s ten billion dollar semiconductor mission, a key national initiative to build domestic chipmaking capacity. The partnership is seen as an important step toward reducing reliance on imports while positioning India as a competitive player in the global semiconductor industry.
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