From correspondents in Maharashtra, India, 07:52 PM IST

The India Semiconductor Association (ISA), the only body representing the Indian semiconductor driven industry, today signed a Memorandum of Understanding (MoU) with Semiconductor Equipment and Materials International (SEMI), the global industry association representing the equipment and materials suppliers to the semiconductor, display and PV industries. The MoU was signed by Poornima Shenoy, President, India Semiconductor Association and Stanley Myers, President and CEO, SEMI today.

The agreement reinforces ISA and SEMI goals of supporting the semiconductor related ecosystem in India. The agreement also lays the groundwork for exchange of market information, and membership benefits between the respective associations.

Speaking at the occasion, Ms. Poornima Shenoy, President, ISA said, "India has the innate potential to become a strategic and world class manufacturing hub. SEMI also has an increasing focus on the solar photovoltaic space which is emerging as a sector of importance in India. Our organizations have come together to combine our mutual strengths to build upon it. "

"SEMI has a long history of promoting the global expansion of semiconductor manufacturing," said Stanley T. Myers, President and CEO of SEMI. "The potential industry development in India is of interest to our members, and this partnership will encourage and enable the membership of both associations to take advantage of combined resources and establish strong collaborative relationships."

Also present at the signing were Mr. S Janakiraman, Chairman, ISA and Mr. Paul Davis, Executive Vice President, SEMI.

This agreement is effective immediately.

Source: Press Release Distribution via India PRwire