(MENAFN- KNN India)
New Delhi, Jan 13 (KNN) Bartronics India Ltd, a prominent fintech business solutions provider, has partnered with Singapore-based PTW Group, a leading Semiconductor solutions provider, in a landmark memorandum of understanding (MoU) aimed at boosting India's semiconductor industry.
This collaboration marks PTW Group's first entry into the Indian market and paves the way for a merger between the two companies.
The joint venture will focus on setting up state-of-the-art production, refurbishing, and training facilities across India, responding to the country's rapidly expanding demand for semiconductor technology.
The initiative promises to drive innovation, foster research and development, and create a skilled workforce, all while aligning with India's ambitious goal of becoming a global semiconductor hub.
Bartronics emphasised that the partnership would not only enhance product and service offerings but also create significant opportunities for local manufacturing and R&D.
The company's Managing Director, N. Vidhya Sagar Reddy, noted that the merger would introduce advanced semiconductor technologies to India, strengthening the nation's position in the global semiconductor landscape.
PTW Group, which already has a strong international presence in over 14 countries, is renowned for its expertise in refurbishing power semiconductor equipment.
The company has earned 'approved vendor' status with over 700 fabs globally, including industry giants like TSMC, Samsung, and Micron.
Torsten Seifried, PTW Group's Managing Director, expressed excitement over the potential for India to become a central hub for semiconductor production, particularly in the power-semi segment.
The collaboration will offer PTW deep insights into the Indian market and meet the growing needs of emerging fabs in the country.
With consultancy firm TOP2 advising on the merger, the move is poised to usher in a new era for India's semiconductor industry.
Bartronics, which has previously introduced groundbreaking technologies like barcodes, smart cards, and RFID in India, sees this as an ideal opportunity to reinforce its role as a technological pioneer and capitalise on the burgeoning semiconductor sector.
(KNN Bureau)
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