MiPhi Semiconductors, a strategic joint venture between Micromax Informatics and Taiwan's Phison Electronics, is positioning itself as a key player in India's push for semiconductor self-reliance by focusing on AI-driven NAND storage solutions and intelligent computing infrastructure that are both designed and made in India.
Formally launched in December 2024, MiPhi carries out R&D and chip design from its Bengaluru facility and partners with Bhagwati Products (BPL) for manufacturing both consumer and enterprise SSDs.
As part of its long-term roadmap, the company is also working on complex technologies such as liquid cooling and high-performance edge computing (HPC), which could support future advanced server manufacturing capabilities, according to Rahul Sharma, Co-founder of Micromax, BPL, and MiPhi.
Unlike many semiconductor initiatives that center around packaging and OSAT services, MiPhi's approach begins with design - a rarity in the Indian landscape, Sharma said.
"MiPhi was born out of the need to bring Grade A AI-enabled memory solutions to India, which are designed and manufactured in India," Sharma said. "We are probably the only company in India right now that is designing and manufacturing enterprise SSDS in India."
Design-first strategy and local manufacturing
This design-first strategy aligns with India's evolving production-linked incentive (PLI) schemes, particularly the new ₹30,000 crore Component PLI announced in March 2025, which encourages companies to manufacture IT components locally. BPL, according to Sharma, will participate in the scheme and is expected to announce specific components it will manufacture soon.
"This is a brilliant move by the government," Sharma said. "We're moving from assembly to SMT to components and now to full design. MiPhi is already doing the firmware and controller design here, and we are manufacturing it here too."
Aiming beyond EMS
BPL in 2024 partnered with Huaqin, one of the world's largest ODMs, to expand its capabilities beyond EMS and into full product design. Huaqin operates across three ecosystems - mobile, IT, and automotive - bringing an unusually broad scope to the India joint venture.
"Our joint venture aims to bring complete ODM services to India in phases," he said. "First mobile, then IT hardware, then automotive electronics. By next year, you will start seeing products that are designed and manufactured here in India."
The partnership has already led to knowledge transfer in various areas. Sharma said Indian companies that previously went to international vendors for design and manufacturing are now able to work with BPL and Huaqin within India. "We expect to see the results by 2026," he added.
Once a dominant mobile phone brand in India, Micromax has stepped back from the consumer market. Asked about a possible brand revival, Sharma said, "Right now, we're focused on manufacturing. The scope is immense."
Competing in India's expanding electronics base
Sharma believes that for a country of India's scale, at least three large EMS/ODM players are required to anchor the electronics manufacturing ecosystem.
While acknowledging the presence of established players such as Foxconn, Dixon, and DBG, he argues that BPL's emphasis on quality manufacturing and in-house design gives it a competitive edge.
"In barely a year, we've gone from zero to significant production capacity," he said. "Month-on-month, the numbers are soaring. And yes, improving production efficiency is a continuous process - every manufacturing company works on that."
India vs. Vietnam: The China+1 equation
As geopolitical tensions push global companies to diversify supply chains away from China, Sharma sees India as a stronger long-term candidate than Vietnam, particularly due to its trade balance with the United States.
"Vietnam exports $125 billion to the US and imports only $15 billion, while India exports $85 billion and imports around $45 to $48 billion. The US has a massive trade deficit with Vietnam, not with India," he noted. "We're a self-consumption economy. Vietnam is not. In the long run, that will work in India's favor."
Article edited by Jack Wu
