During Prime Minister Narendra Modi’s visit to Singapore in September 2024, significant strides were made in advancing India-Singapore collaboration in the semiconductor and digital technology sectors. Modi met with Singapore’s Deputy Prime Minister Lawrence Wong, and together they visited AEM Holdings, a major player in the semiconductor industry. This visit highlighted efforts to deepen India-Singapore ties, particularly in the semiconductor manufacturing space, a key area of strategic importance for both nations.
A notable outcome of the visit was the signing of four Memorandums of Understanding (MoUs). One of the key MoUs focused on the semiconductor ecosystem, signed between India’s Ministry of Electronics and Information Technology and Singapore’s Ministry of Trade and Industry. This agreement aims to foster collaboration in semiconductor design, manufacturing, and talent development. Singapore, being a crucial hub in the global semiconductor supply chain, produces around 10% of the world’s chips and 20% of semiconductor manufacturing equipment (Hindustan Times)(Devdiscourse).
Apart from semiconductors, MoUs were also signed in other critical areas such as healthcare, education, and skills development. These agreements are expected to enhance cooperation in human resource development, joint research, and innovation in health and medicine (Outlook India).
The visit further strengthened bilateral relations, with Modi extending an invitation to Singaporean companies to participate in the upcoming SEMICON India exhibition, emphasizing India’s growing presence in the global semiconductor industry (Hindustan Times)(Devdiscourse).
