Japanese Tech Cos Keen On India Investment: IESA
Japanese electronics companies, both existing and new, are firming up investment plans for India in electronics manufacturing. Recent the India Electronics and Semiconductors Association (IESA) has signed a memorandum of understanding (MoU) with the Asia Semiconductor Trading Support Association (ASTSA) for collaboration in the electronic system design and manufacturing segment.
“There are over a dozen Japanese leading electronics companies that have shown interest in investing in Indian electronics manufacturing space,” IESA president M N Vidyashankar told PTI.
“Japanese firms that do not have presence in India have shown interest in starting business through joint ventures. Even companies like Panasonic, Toyota that have presence have shown willingness to expand business here,” Vidyashankar said. Among new companies, SAMCO, PMT Corporation and 3D Labs are seen to be keen on investing in India. ”These all companies will visit India and explore partnership opportunity at IESA vision summit in February,” Vidyashankar said, adding that the MoU will help both the nations to expand bilateral trade.
“India is emerging as the fascination for many global ESDM leaders primarily due to its mature market, availability of talents and the expertise India can bring to the ESDM supply chain with components like designing, embedded system, VLSI etc. We believe India’s ESDM industry is at an inflection point and the MoU can only strengthen our commitment towards each other” said Dr. Hajime Tomokage, President ASTSA (Asian Semiconductor Trading Support Association).
As defined in the MoU, both IESA and ASTSA are committed to work together on the ESDM ecosystem and collaborate to develop stronger ties between India and Japan by creating business opportunities.
Apart from the MoU signing, the delegation visit would also involves exclusive B2B interaction with leaders of the manufacturing and semiconductor industry and a visit to JETRO (Japan External Trade Organisation), Fukuoka and an event on Embedded Technology at Yokohama, Japan.
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