India and Singapore Sign Chip Deal as Modi Advances Tech

12 Sep, 2024

India and Singapore Sign Chip Deal as Modi Advances Tech

India and Singapore have forged a significant partnership to advance their semiconductor and digital technology sectors. This collaboration, formalized during Indian Prime Minister Narendra Modi's visit to Singapore, includes agreements to enhance talent in chip design and manufacturing, and to facilitate Singaporean investments in India's tech industry. The countries will also strengthen their cooperation in areas like cybersecurity, fifth-generation mobile networks, super-computing, and artificial intelligence.

The global chip market, valued at $588 billion this year, is being reshaped by geopolitical tensions, particularly between the US and China. As both nations seek to build independent supply chains, countries like India, Singapore, and Malaysia are emerging as key players. Singapore, with its well-established semiconductor industry, provides a valuable model for India, which is still developing its capabilities in this field.

Singapore hosts major chip manufacturing plants and has a strong pool of research talent and venture capital, offering a significant advantage for the Indian semiconductor sector. Modi’s strategy to transform India into a technology powerhouse is supported by this partnership, which includes additional deals in health, medicine, and skills development. The collaboration aims to leverage Singapore’s expertise to accelerate India’s growth in the semiconductor industry and improve its position in the global tech market.