In presence of Prime Minister Narendra Modi and visiting German Chancellor Angela Merkel, Infineon Technologies India Pvt Limited and National Skill Development Corporation (NSDC) signed a Memorandum of Understanding (MoU) for skill development in the Indian semiconductor sector. The MoU involves 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.
After signing, Mr. 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”.
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. Studies indicate that by 2020, the amount of electronics imports may climb to USD 400bn and the amount of semiconductors may climb to USD 50bn respectively. Thus, the establishment of a local manufacturing ecosystem for semiconductors and electronics is seen as critical for India’s economic health.
At present, there is a vacuum in the skilled manpower in India in the fields of advanced technologies like semiconductors. The purpose of the agreement signed today is to improve academic and scholarly interactions. It will focus 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. Semiconductor manufacturing is skill intensive and therefore the Indian government is keen to imbibe curriculum and set-up training facilities to develop skilled workforce for this area.
About Infineon
Infineon Technologies AG is a world leader in semiconductor solutions that make life easier, safer and greener. Microelectronics from Infineon is the key to a better future. In the 2014 fiscal year (ending September 30), the company reported sales of Euro 4.3 billion with about 29,800 employees worldwide. In January 2015, Infineon acquired US-based International Rectifier Corporation with revenues of USD 1.1 billion (fiscal year 2014 ending June 29) and approximately 4,200 employees.
Infineon is listed on the Frankfurt Stock Exchange (ticker symbol: IFX) and in the USA on the over-the-counter market OTCQX International Premier (ticker symbol: IFNNY).
Further information is available at http://www.infineon.com
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About NSDC
National Skill Development Corporation (NSDC) is a unique Public Private Partnership (PPP), with 51 percent equity held by private sector and the balance 49 percent by the Union Government. Formed in 2010, NSDC is a professionally run not-for-profit company that includes 33 Sector Skill Councils and over 203 training partners with over 3611 training centers spread across over 497 districts in the country. NSDC is mandated to skill 150 million Indians by 2022.
Photo Caption: Mr. Arunjai Mittal, Member of the Board , Infineon Technologies and Mr. Dilip Chenoy, Managing Director & CEO National Skill Development Corporation (NSDC) exchanging the MOU
