FICCI & IESA Signed MoU to Promote Electronics and Semiconductor Industry in India

Current Context: The Federation of Indian Chambers of Commerce and Industry (FICCI) and the India Electronics and Semiconductor Association (IESA) have indeed signed a Memorandum of Understanding (MoU) on 15th May 2024 in New Delhi.

• The purpose of the MoU is to promote innovation, support the semiconductor and electronics industry, strengthen supply chains, and foster the development of the ecosystem in India with global impact.
• A joint task force on semiconductor and critical technologies of the future will be set up as part of this collaboration.
• The core objective of this MoU is to conduct technology consultative roundtables and foster business partnerships.
• The President of IESA, Ashok Chandak, expressed optimism about the strategic partnership with FICCI.
• The synergy between IESA’s expertise and FICCI’s extensive member network could substantially enhance investment opportunities for Indian conglomerates in the semiconductor and electronics sectors.
• Dr Veerappan, Chairperson of IESA, emphasized the importance of increasing local value addition and fostering India’s self-reliance in these critical sectors.

Question

Ques.1 What is the purpose of the MoU signed between The Federation of Indian Chambers of Commerce (FICCI) and the India Electronics and Semiconductor Association (IESA)?

• a) To promote innovation and support the semiconductor and electronics industry
• b) To strengthen supply chains and foster the development of the ecosystem in India with global impact
• c) Both A and B
• d) None of the above

Answer: c) Both A and B