To support the growing semiconductor industry in India, industry organization Semiconductor Equipment and Materials International (SEMI) said today it has signed a memorandum of understanding (MOU) with the India Semiconductor Association (ISA) to support and promote the industry's growth.

The groups said their MOU is aimed at reinforcing the semiconductor-related ecosystem in India, which also lays the groundwork for exchange of market information, and membership benefits between the respective associations.

Poornima Shenoy, president of the ISA said in a statement, “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. “

Likewise, SEMI’s president and CEO, Stanley T. Myers reminded that SEMI has a long history of promoting the global expansion of semiconductor manufacturing, the potential industry development in India is of interest to members, and this partnership is expected to encourage and enable the membership of both associations to take advantage of combined resources and establish strong collaborative relationships.

How this will play out over time remains to be seen. Even if it is just a goodwill gesture on behalf of SEMI, seems to make sense from the perspective of the global industry.