To Enhance Madhya Pradesh's Electronics and Semiconductor Industry, MPSeDC Signs MoU with IESA

MPSEDC

Nitin Konde

Aug 9, 2024 — 2 min read

MPSeDC Signs MoU with IESA to Enhance Electronics and Semiconductor Industry in Madhya Pradesh

The electronics and semiconductor sector in Madhya Pradesh has taken a major step forward with the signing of a Memorandum of Understanding (MoU) between the India Electronics and Semiconductor Association (IESA) and the Madhya Pradesh State Electronics Development Corporation (MPSEDC).

During the "Interactive Session on Investment Opportunities in Madhya Pradesh" that took place on August 8, 2024, as part of the Invest Madhya Pradesh Bengaluru tour, the strategic alliance was officially announced.

Setting the Right Tone for This Sector

A primary goal of the MoU is to encourage business initiatives in Madhya Pradesh's Electronics System Design and Manufacturing (ESDM) ecosystem to set up shop there. The goal of the effort is to create a thriving ecosystem that includes electronic business services, electronic component manufacturing, printed circuit board (PCB) design and production, and semiconductor assembly, testing, marking, and packaging.

As a whole, the partnership should help India get closer to its goal of being a global leader in ESDM by 2030.

"It is with great pleasure that we join forces with MPSEDC, an organisation that is tirelessly assisting the Madhya Pradesh government in developing earmarking legislation and in negotiations with potential corporations to establish ESDM facilities," Dr. Veerappan, Chairperson of IESA, said, full of optimism regarding the partnership.

"Our shared goal in forming this cooperation is to set up a system where MPSEDC and the industry can formally communicate and collaborate on MP development so that it can contribute to India's $500 billion ESDM market by 2030," said Veerappan.

This cooperation with IESA is a key step towards realising Madhya Pradesh's potential in the electronics and semiconductor industry," Anshul Gupta, Managing Director of MPSEDC, said while highlighting the importance of the MoU.

The president of IESA, Ashok Chandak, made the following comment: "Madhya Pradesh has long envisioned the development of the ESDM sector and has been actively joining ESDM events and supporting IESA's flagship event, Vision Summit."

"The signing of this MoU by MPSEDC and IESA, witnessed by Shri. Mohan Yadav, Hon'ble Chief Minister of Madhya Pradesh, during his visit to Bangalore, is a significant achievement for both organisations. "It opens the door for accelerated industrial development in Madhya Pradesh's ESDM sector, with a concentration on manufacturing and job creation," Chandak noted.

Rapid industrial development in Madhya Pradesh's ESDM sector, with an emphasis on manufacturing and job generation, is anticipated as a result of the deal.

Applying the Concept and Looking Ahead

Important aspects of the Memorandum of Understanding (MoU) include working together to develop policies, hosting technical seminars and training programs, promoting Madhya Pradesh initiatives among IESA members and business associates, and providing support in the establishment of EMCs and COEs.

The partnership is anticipated to bring in substantial investments, create job opportunities, and establish Madhya Pradesh as a rising star in the Indian semiconductor and electronics industry.