India and Singapore have agreed to collaborate in the development of the semiconductor ecosystem, as announced by the Ministry of Trade and Industry of Singapore. The two countries signed a Memorandum of Understanding (MoU) during the Official Visit of India’s Prime Minister Narendra Modi to Singapore. The goal of the MOU is to support India’s expanding semiconductor industry while also allowing Singapore’s ecosystem of semiconductor companies to participate in the growing Indian market.
The partnership between Singapore and India will focus on leveraging their respective strengths in the semiconductor sector and exploring opportunities to enhance resilience in their semiconductor supply chains. This will involve exchanging government policies on ecosystem development, supply chain resilience, and workforce development. The Ministry of Trade and Industry (MTI) of Singapore and India’s Ministry of Electronics and Information Technology (MeitY) will establish a Policy Dialogue to oversee collaboration and exchange best practices in the sector.
In addition to the Policy Dialogue, a business-to-business Cooperation Forum will be set up and managed by Enterprise Singapore and the India Semiconductor Mission (ISM) with the aim of encouraging more private-sector partnerships between the two countries. During his visit to Singapore, PM Modi visited the semiconductor facility of AEM Holdings Ltd, accompanied by Singapore’s PM Lawrence Wong. The visit included a presentation by the Singapore Semiconductor Industry Association (SSIA) on the opportunities for collaboration between the two countries’ semiconductor industries.
Prime Minister Modi also interacted with various ecosystem players and institutions such as APP Systems, Century Water, Ecsal Technologies, NexGen Wafer Systems, PEP Innovation, and Temasek Polytechnic. Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong emphasized that the MOU reflects the commitment of both India and Singapore to collaborate in the semiconductor field to meet global industry demands, enhance supply chain resilience, and create new opportunities for businesses in both countries.
Overall, the cooperation between India and Singapore in the semiconductor sector is expected to strengthen both countries’ positions in the global semiconductor market and open up new business opportunities. With their complementary strengths, the two countries aim to build a more resilient semiconductor supply chain and foster innovation and growth in the industry. The establishment of the Policy Dialogue and Cooperation Forum will facilitate exchanges of best practices and promote private-sector partnerships, further enhancing the collaboration between India and Singapore in the semiconductor ecosystem.
