Hyderabad-based MIC Electronics has signed a Memorandum of Understanding (MoU) with Singapore’s venture capital firm TOP2 Pte Ltd to advance India’s semiconductor manufacturing capabilities. The collaboration will focus on importing established wafer fabrication lines into India and identifying a fabrication partner in Taiwan, with the aim of producing 25,000 to 30,000 wafers per month domestically.
This move supports India’s $10 billion semiconductor mission and underscores a shift toward faster, globally integrated approaches to local chipmaking.
Tapping into global networks to reduce import dependence
Instead of waiting for greenfield fabs to come online, the partnership takes a capital-efficient route by leveraging existing production lines from the U.S., Europe, and Japan. TOP2 has already helped three Indian companies secure such lines this year and plans to facilitate at least two to three more annually.
This strategy helps Indian manufacturers like MIC Electronics ramp up fabrication more quickly while building technical expertise through international cooperation.
Strategic sectors drive local demand
Demand for semiconductors in India continues to surge across sectors such as electric vehicles, consumer electronics, AI, and 5G. By focusing on tested capacity and faster go-to-market timelines, the MIC–TOP2 partnership aligns with both national policy and industry urgency to cut reliance on imports.
As part of the agreement, MIC will define fabrication specs, contribute engineering input, and lead partner engagement — while TOP2 facilitates access to proven, relocatable assets and global best practices.
Aligning with India’s semiconductor roadmap
Rakshit Mathur, CEO of MIC Electronics, said the collaboration will allow the company to “move at a faster pace” and build greater resilience in the domestic chip supply chain. Rao Panidapu, founding partner at TOP2, emphasized the need for “faster execution and local strength” to drive sustainable outcomes.
By combining global access with domestic execution, the partnership offers a hybrid model for other mid-sized players looking to participate in India’s emerging semiconductor ecosystem.
