MIC Electronics Limited, a technology-driven enterprise from India, has signed a Memorandum of Understanding (MoU) with Singapore-based TOP2 Pte Ltd, a strategic advisor specializing in fundraising, M&A, and partnerships, to accelerate India’s semiconductor ecosystem. Under this agreement, TOP2 will support MIC in identifying and finalizing a semiconductor fabrication partner from Taiwan, with the goal of initiating wafer production in India at a scale of 25,000 to 30,000 wafers per month.
This collaboration comes at a pivotal time as India pushes forward with its $10 billion Semiconductor Mission to boost domestic chip-making capabilities, reduce import dependency, and establish itself as a global hub. Leveraging existing operational wafer lines offers India a faster and more cost-effective path compared to building new fabs from scratch.
With decades of expertise in innovation and electronics manufacturing, MIC will collaborate closely with TOP2 by providing technical insights, defining fabrication requirements, and engaging in partner discussions. MIC also pledged to ensure confidentiality, active participation, and constructive engagement throughout the process, aiming to strengthen its global competitiveness and self-reliance.
Commenting on the MoU, Rakshit Mathur, CEO, MIC Electronics Limited, said: “Semiconductors are the foundation of modern technology, powering everything from smartphones to electric vehicles. Building wafer manufacturing capacity in India is critical for the nation’s future. Partnering with TOP2 allows us to draw on proven global expertise and move faster in reducing import dependence while positioning India as a strong player in the global semiconductor landscape.”
TOP2 Pte Ltd has been instrumental in relocating operational silicon wafer lines from the USA, EU, and Japan to India. In 2025 alone, it helped three Indian companies secure such facilities. With demand driven by EVs, 5G, AI, and consumer electronics, TOP2 plans to bring 2–3 additional lines into India annually. The company will continue supporting MIC with research, global connections, and on-ground execution to ensure smooth project delivery.
Reflecting on the partnership, Rao Panidapu, Founding Partner, TOP2 Pte Ltd, said: “India is poised to unlock new opportunities in semiconductors. Our mission is to bring reliable wafer manufacturing capabilities to the country by combining global expertise with local strength. Through this collaboration with MIC, we aim to fast-track execution and build resilience, contributing to India’s journey towards self-reliance and global competitiveness.” The MoU underscores a joint commitment to technology transfer, sustainable growth, and supporting India’s semiconductor vision, paving the way for accelerated progress in one of the world’s fastest-growing markets.
Founded in 1988, MIC Electronics Limited is a leading technology-driven enterprise in India with a proven track record in innovation and electronics manufacturing. The company is focused on advancing semiconductor capabilities, strengthening India’s role in the global electronics landscape, and driving sustainable technological growth.
TOP2 Pte Ltd, headquartered in Singapore, is a strategic advisory firm specializing in fundraising, mergers & acquisitions, and partnerships. The company plays a key role in sourcing and relocating operational silicon wafer production lines from the USA, EU, and Japan to India. In 2025, TOP2 successfully assisted three Indian companies in acquiring such lines and aims to bring 2–3 more into India every year.
