Indian Prime Minister Narendra Modi visited Singapore, where he met with his counterpart and signed a series of Memorandums of Understanding (MoUs), including one focused on semiconductor cooperation. This makes Singapore the fourth country, following the US, Japan, and Malaysia, to establish a semiconductor partnership with India.
On September 5, Modi met with Singaporean Prime Minister Lawrence Wong. The two countries signed several Memorandums of Understanding (MoUs) and elevated their bilateral relationship to a Comprehensive Strategic Partnership, according to reports from CNBC-TV18, Hindustan Times, and India TV.
The MoUs cover a range of strategic areas, including semiconductors, digital technologies, education, skills development, and healthcare. One such agreement, signed by India's Ministry of Electronics and Information Technology and Singapore's Ministry of Trade and Industry, focuses on developing semiconductor clusters and nurturing talent in semiconductor design and manufacturing while encouraging Singaporean investments in India.
In the digital technologies sector, an MoU between India's Ministry of Electronics and Singapore's Ministry of Digital Development aims to enhance cooperation in cybersecurity, 5G, quantum computing, and artificial intelligence, focusing on upskilling workers in these domains.
The health and medicine sector also saw collaboration, as India's Ministry of Health and Singapore's Ministry of Health agreed to collaborate on research, innovation, and human resource development in healthcare and pharmaceuticals.
In education and skills development, India's Ministry of Skill Development and Singapore's Ministry of Education signed an MoU to boost cooperation in vocational education and training, complementing ongoing initiatives in skill development between the two nations.
CNBC-TV18 reported that an unnamed official highlighted Singapore's constraints in land and labor compared to India's abundance of both resources. This disparity positions India as a crucial component of Singapore's semiconductor value chain. The official suggested that Singaporean semiconductor companies might be encouraged to consider India for their expansion strategies.
