Just moment after the lucrative meet of Prime Minister Narendra Modi and visiting German Chancellor Angela Merkel, Infineon Technologies India and National Skill Development Corporation (NSDC) inks a strategic Memorandum of Understanding (MoU) for skill development in the Indian semiconductor sector.
Commenting on the new alliance, Arunjai Mittal said, “The semiconductor market in India is projected to grow by more than 20 percent annually in the years to come. Infineon appreciates the advances made in this field as well as the recent progress that India as a business destination has made. We are excited about this collaboration with NSDC and look forward to the overall success of this project.”
The MoU will integrate the up-skilling of workers, including the provision of material and expert trainers.
Infineon Technologies was represented by Arunjai Mittal, Member of the Board, while NSDC was represented by its Managing Director, Dilip Chenoy. Through this MoU, both parties will support in the “Make in India” programme unveiled by Prime Minister Modi to make India a manufacturing hub.
The MoU will ahead focus on skilling of local youth for future employability and income generation. Specific modalities will be worked out for each of the above initiatives, giving details of scope, roles and responsibilities, monitoring mechanism for implementation.
An estimated USD 50bn of electronics and 10bn USD of semiconductors are imported to India each year due to the absence of a local manufacturing ecosystem.