Hyderabad-Based MIC Electronics, TOP2 Join Hands to Boost Chipmaking In India

MIC Electronics Limited has signed a memorandum of understanding (MoU) with Singapore-based VC firm TOP2 Pte Ltd to boost India’s semiconductor manufacturing capacity. 

Under the agreement, TOP2 will help MIC identify and finalise a fabrication partner from Taiwan, aiming to start wafer production in India with a capacity of 25,000 to 30,000 wafers per month.

The collaboration supports India’s $10 billion semiconductor mission, which seeks to reduce reliance on imports and develop domestic chipmaking capabilities. India currently meets most of its semiconductor demand through imports, making access to established wafer lines a quicker and cost-effective option than building new facilities.

To Reduce Imports

MIC Electronics will share technical expertise, define fabrication needs and engage in discussions with potential partners. “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,” said Rakshit Mathur, CEO of MIC Electronics.

TOP2 has already assisted three Indian firms this year in securing wafer production lines from the US, Europe and Japan. The company plans to bring two to three additional lines annually, citing growing demand driven by electric vehicles, 5G, AI and consumer electronics. 

“This partnership with MIC allows us to bring together international expertise and local strength to make sure there is faster execution and greater resilience,” said Rao Panidapu, founding partner of TOP2.

The agreement underscores a shared commitment to technology transfer and sustainable growth, aligning with India’s semiconductor vision. Both companies see the MoU as a step towards making India more self-reliant and globally competitive in the semiconductor sector.