MIC Electronics Limited, a leading technology-driven enterprise based in India, has signed a Memorandum of Understanding (MoU) with TOP2 Pte Ltd., a Singapore-based strategic advisor that specialises in fundraising, M&A and Strategic Partnerships to strengthen India’s Semiconductor ecosystem. Under this MoU, TOP2 will help MIC in exploring, identifying and finalizing a semiconductor fabrication partner from Taiwan, with a target to start wager production in India at a capacity of 25,000 to 30,000 wafers per month.
This collaboration comes at a critical time as India advances with its $10 billion Semiconductor Mission to develop domestic capabilities in Chip Manufacturing and reduce its dependence on imports, while establishing India as a global hub. Since a major portion of India’s Semiconductor needs are still being met through imports, gaining access to proven, in-operation wafer lines definitely provides a faster and cost-effective alternative to building new fabs from scratch.
MIC Electronics holds years of experience in innovation and electronics manufacturing. With this MoU, it will work closely with TOP2 by sharing technical insights, helping define fabrication needs and participating in key partner discussions. MIC is also committed to maintaining confidentiality, sharing timely feedback and constructive engagement throughout the process. With this MoU, MIC looks forward to becoming a more self-reliant and globally competitive player in the sector.
Commenting on the collaboration, Mr. Rakshit Mathur, CEO, MIC Electronics Limited, said “Semiconductors power everything from smartphones to electric vehicles and are the backbone of modern technology. Because of the same building, the ability to manufacture wafers at scale is crucial for India’s future. 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.”
TOP2 Pte Ltd has played a major role in bringing proven silicon wafer production lines from global markets, such as the USA, EU, and Japan, to India. In 2025 itself, it helped 3 Indian companies in securing such lines. With the increasing demand for wafers due to growing EV adoption, 5G, Artificial Intelligence and consumer electronics, TOP2 intends to bring in 2-3 more lines every year. The company also works closely with MIC, providing research, partner connection and hands-on support to make sure there is smooth execution and growth takes place in India’s semiconductor industry.
Reflecting on the MoU, Mr. Rao Panidapu, Founding partner, TOP2 Pte Ltd commented: “India is all set to unlock new opportunities in the semiconductor industry and our mission is to bring reliable global wafer manufacturing capabilities to its shores. This partnership with MIC allows us to bring together international expertise and local strength to make sure there is faster execution and greater resilience. Together, both the companies aim to accelerate India’s journey towards becoming self-reliant and globally competitive.”
This MoU shows a mutual commitment to technology transfer, sustainable growth and supporting India’s semiconductor vision, making way for faster progress in one of the fastest-growing markets globally
