HYDERABAD / SINGAPORE – In a significant move to bolster India’s domestic semiconductor ecosystem Hyderabad-based MIC Electronics Limited has entered a strategic partnership with Singapore’s TOP2 Pte Ltd. The collaboration is squarely focused on a critical goal: identifying and securing a semiconductor fabrication partner from Taiwan to establish a wafer manufacturing plant on Indian soil.
The memorandum of understanding (MoU) between the two companies is a direct play to accelerate India’s $10 billion Semiconductor Mission which aims to develop local chip manufacturing capabilities and reduce a heavy reliance on imports.
Building a Foundational Fab
The cornerstone of the MIC Electronics TOP2 semiconductor wafer fabrication plant India initiative is to establish robust wafer production capabilities. The partnership targets a monthly production capacity of 25,000 to 30,000 wafers. This scale of production is foundational for creating a sustainable semiconductor supply chain within the country.
Under the agreement, TOP2 will be the key facilitator, leveraging its specialized expertise in sourcing and relocating proven wafer production lines from global markets. The Singapore firm has a established track record having already assisted three Indian companies in securing silicon wafer lines in 2025. Their business model involves relocating two to three additional production lines to India annually providing a faster and more cost-effective path to production than building facilities from scratch.
A Partnership of Complementary Strengths
The alliance brings together two players with distinct and complementary roles:
- TOP2 Pte Ltd: Acts as the strategic sourcing and deal-making arm. The company specializes in fundraising, mergers and acquisitions, and has particular expertise in navigating the complex process of relocating sophisticated manufacturing lines from the U.S., E.U., and Japan to India.
- MIC Electronics: The Indian technology enterprise, founded in 1988, brings decades of hands-on experience in electronics manufacturing. MIC will contribute crucial technical insights during partner evaluations and discussions, ensuring the selected fabrication technology is viable and aligns with India’s needs.
A Strategic Imperative for National Competitiveness
The push for domestic semiconductor manufacturing is driven by more than just economic policy; it’s a strategic necessity. Semiconductors are the brains behind modern technology, powering everything from smartphones and consumer electronics to electric vehicles, 5G networks, and artificial intelligence applications.
Rakshit Mathur, CEO of MIC Electronics Limited, emphasized this point, noting that domestic production capabilities are “crucial for the country’s competitiveness.”
Rao Panidapu, Founding Partner of TOP2 Pte Ltd, highlighted the pragmatic approach: “The company’s approach focuses on bringing established manufacturing capabilities to India rather than building facilities from scratch, which provides a more cost-effective and time-efficient path to production.”
The MIC Electronics TOP2 semiconductor wafer fabrication plant India collaboration represents a pragmatic and significant step in India’s journey to become a global semiconductor player. By focusing on relocating and redeploying existing, proven technology, the partnership aims to quickly bootstrap India’s manufacturing capacity, create a skilled workforce, and build a more resilient, self-reliant technological future.
