India and Singapore signed several important Memorandums of Understanding (MoUs) on Wednesday, focusing on digital technologies, semiconductors, healthcare, and skill development, further strengthening the partnership between the two nations.
The agreements were finalized following bilateral discussions between Indian Prime Minister Narendra Modi, who is visiting Singapore, and his Singaporean counterpart, Lawrence Wong.
2. Semiconductor Ecosystem Partnership:
A significant MoU was signed to promote collaboration in developing a semiconductor cluster, enhancing semiconductor design and manufacturing, and attracting investments from Singapore to India. This agreement involves India’s Ministry of Electronics and Information Technology and Singapore’s Ministry of Trade and Industry. Singapore, which contributes to 10% of global chip production and 20% of semiconductor manufacturing equipment, plays a critical role in the global semiconductor supply chain.
During their discussions, Modi described Singapore as both a partner and an inspiration for developing nations. The two leaders agreed to elevate bilateral ties to a Comprehensive Strategic Partnership, covering areas such as advanced manufacturing, digitalization, healthcare, skills development, and sustainability.
Following his bilateral meetings, Modi is scheduled to visit AEM Holdings Ltd’s semiconductor facility, join a lunch hosted by Senior Minister Lee Hsien Loong, and meet with Singaporean President Tharman Shanmugaratnam and Emeritus Senior Minister Goh Chok Tong. He will also engage with business leaders in a meeting with CEOs in Singapore.
