India, Singapore Sign Deals on Semiconductors and Digital Tech

09 Sep, 2024

India, Singapore Sign Deals on Semiconductors and Digital Tech

India and Singapore have solidified their partnership with new agreements focusing on semiconductors and digital technology. This development comes as Prime Minister Narendra Modi is on a two-day visit to Singapore, marking the 60th anniversary of diplomatic relations set to be celebrated next year.

During his visit, Modi witnessed the signing of several memorandums of understanding (MoUs) covering various sectors, including semiconductors, digital cooperation, education, skill development, and health. The tech collaboration specifically highlights semiconductors as a crucial area of bilateral cooperation. Modi and Singaporean Prime Minister Lawrence Wong also toured AEM Holdings Ltd’s semiconductor facility and received a briefing from the Singapore Semiconductor Industry Association.

India aims to establish itself as a significant global player in semiconductor manufacturing, driven by strong domestic demand in electronics and electric vehicles. Singapore’s well-established semiconductor industry, which contributes significantly to global output, aligns well with India’s growth aspirations.

The agreements also include digital cooperation focused on data protection and cyber security. Both nations have committed to enhancing their digital infrastructure and governance frameworks. Additionally, they outlined six pillars of cooperation: Sustainability, Digitalisation, Skill Development, Healthcare & Medicine, Advanced Manufacturing, and Connectivity.

The visit underscores a deepening partnership, with both leaders emphasizing the potential for increased collaboration in areas like Green Hydrogen and critical technologies. Modi’s engagements included meetings with top business leaders from Singapore, highlighting the strategic economic ties between the two countries.