MIC Electronics Limited, an Indian technology enterprise, has entered into a strategic partnership with Singapore-based TOP2 Pte Ltd to strengthen the country’s semiconductor manufacturing ecosystem. The memorandum of understanding signed between the two companies aims to identify and secure a semiconductor fabrication partner from Taiwan.
The collaboration targets establishing wafer production capabilities in India with a monthly capacity of 25,000 to 30,000 wafers. This initiative aligns with India’s broader $10 billion Semiconductor Mission, which seeks to develop domestic chip manufacturing capabilities and reduce reliance on semiconductor imports.
Under the agreement, TOP2 will leverage its expertise in sourcing proven wafer production lines from global markets to assist MIC Electronics in identifying suitable partners. The Singapore firm has previously helped three Indian companies secure silicon wafer lines in 2025 and plans to facilitate the relocation of two to three additional production lines to India annually.
MIC Electronics, founded in 1988, brings decades of experience in electronics manufacturing to the partnership. The company will contribute technical insights and participate in partner discussions while maintaining confidentiality throughout the process.
Rakshit Mathur, CEO of MIC Electronics Limited, emphasized the strategic importance of semiconductor manufacturing for India’s technological future. He noted that semiconductors are essential components across industries, from consumer electronics to electric vehicles, making domestic production capabilities crucial for the country’s competitiveness.
Rao Panidapu, Founding Partner of TOP2 Pte Ltd, highlighted India’s potential in the semiconductor sector. The company’s approach focuses on bringing established manufacturing capabilities to India rather than building facilities from scratch, which provides a more cost-effective and time-efficient path to production.
The partnership comes as global demand for semiconductors continues to grow, driven by the expansion of electric vehicles, 5G technology, artificial intelligence applications, and consumer electronics. India currently imports a significant portion of its semiconductor requirements, making domestic production capabilities a strategic priority.
TOP2 Pte Ltd specializes in fundraising, mergers and acquisitions, and strategic partnerships, with particular expertise in relocating proven silicon wafer production lines from the United States, European Union, and Japan to Indian markets.
The collaboration represents a significant step in India’s efforts to establish itself as a global semiconductor manufacturing hub while reducing dependence on imports. Both companies have committed to supporting technology transfer and sustainable growth in the sector.