Both sides have decided to expand bilateral cooperation in the field of semiconductors
In a clear signal of their intent to collaborate in new and emerging areas, India and Singapore have signed a Memorandum of Understanding (MoU) on India-Singapore Semiconductor Partnership. The two sides also signed an MoU on cooperation in digital technologies, in addition to a third one on education skill development and fourth on health and medicine.
 
The four MoUs were signed in the presence of visiting Indian Prime Minister Narendra Modi and Singaporean Prime Minister Lawrence Wong on Thursday (September 5, 2024).
 
Prime Minister Modi highlighted the significance of this development when he later described semiconductors and technology as important facets of India-Singapore cooperation. The statement came after Prime Minister Modi and Prime Minister Wong visited AEM Holdings Ltd, a leading Singaporean company in the field of semiconductors and electronics.
 
"Semiconductors and technology are important facets of India-Singapore cooperation. This is also a sector where India is increasing its presence. Today, PM Wong and I visited AEM Holdings Ltd. We look forward to working together in this sector and giving our youth more opportunities," Prime Minister Modi said on social media platform X after the visit.
 
Providing information about the visit on X, Ministry of External Affairs (MEA) Spokesperson Randhir Jaiswal said the leaders held discussions with the stakeholders on opportunities for collaboration between India and Singapore in the field of semiconductors.
 
An MEA statement said the two Prime Ministers were briefed about AEM’s role in the global semiconductor value chain, its operations and plans for India. The Singapore Semiconductor Industry Association gave a briefing on the development of the semiconductor ecosystem in Singapore and opportunities for collaboration with India. Representatives of several other Singaporean companies from this sector were also present.
 
Prime Minister Modi invited the Singaporean semiconductor companies to participate in the SEMICON INDIA exhibition to be held in Greater Noida on 11-13 September 2024.
 
“Given our efforts to develop a semiconductor manufacturing ecosystem in India and Singapore’s strengths in this sector, both sides have decided to expand bilateral cooperation. During the 2nd meeting of the India-Singapore Ministerial Roundtable, both sides agreed to add Advanced Manufacturing, with focus on semiconductors, as a pillar for enhancing bilateral cooperation. Both sides have also concluded the MoU on India-Singapore Semiconductor Ecosystem Partnership,” the MEA noted.
 
Prime Minister Modi also interacted with interns from Odisha World Skill Centre visiting Singapore as well as interns from Singapore who had been to India as part of the CII-Enterprise Singapore India Ready Talent Programme.
 
"It was wonderful to interact with interns from Odisha’s World Skill Center who are visiting Singapore and interns from Singapore who have been to India as a part of the CII-Enterprise Singapore India Ready Talent Programme. I also met a team of Indian engineers working at AEM Holdings. Such cooperation is indeed special and celebrates human talent as well as innovation. @LawrenceWongST," Prime Minister Modi posted on X. 
 
“This visit by both the Prime Ministers underscores the commitment of both sides to develop cooperation in this area. Prime Minister Modi conveyed his appreciation to Prime Minister Wong for joining him in this visit,” the MEA said.
 
During their bilateral talks earlier in the day, Prime Minister Modi and Prime Minister Wong announced that India-Singapore ties would be elevated to a Comprehensive Strategic Partnership.
 
The two Prime Ministers discussed existing cooperation in the fields of defence and security, maritime domain awareness, education, AI, Fintech, new technology domains, science and technology and knowledge partnership, India’s Ministry of External Affairs (MEA) said. “The two leaders called for strengthening connectivity between the countries to enhance economic and people-to-people ties. They also called for acceleration in green corridor projects,” the MEA added.
 
Prime Minister Modi and Prime Minister Wong also took stock of the robust progress in economic ties and called for further expanding trade and investment flows between the two countries.