 "Modi in SE Asia: Big semiconductor, digital tech push as India, Singapore sign 4 MoUs")
To further strengthen cooperation between the two nations, India and Singapore have signed four key Memorandums of Understanding (MoUs) – in the fields of semiconductors, digital technologies, health cooperation, and skill development.
The agreements were signed during Prime Minister Narendra Modi’s visit to Singapore. They were inked after PM Modi held a bilateral meeting with his Singaporean counterpart Lawrence Wong.
Later, PM Modi and Wong visited AEM Semiconductor facility where they explored synergies between the two countries in semiconductor manufacturing.
🇮🇳-🇸🇬|Boosting ties in the area of Advanced manufacturing.
— Randhir Jaiswal (@MEAIndia) September 5, 2024
PM @narendramodi and PM @LawrenceWongST visited AEM Holdings Ltd. today, a leading Singaporean company in semiconductors and electronics sector.
The leaders held discussions with the stakeholders on opportunities for… pic.twitter.com/ljX2DRdAmO
MoUs signed between India and Singapore
1 - Semiconductor
India’s Ministry of Electronics and Information Technology and Singapore’s Ministry of Trade and Industry have signed a MoU on semiconductor ecosystem partnership under which both the countries have decided to cooperate in developing a semiconductor cluster and cultivating talent in semiconductor design and manufacturing.
Singaporean companies have been persistently keen to invest in India and this MoU will facilitate their investments in India.
For the unversed, Singapore accounts for 10 per cent of all chips produced globally and about 20 per cent of the global production of semiconductor manufacturing equipment.
Impact Shorts
More Shorts2 - Digital technology
India’s Ministry of Electronics and Information Technology and Singapore’s Ministry of Digital Development and Information have signed MoU. The agreement will help facilitate closer cooperation between the two nations in the areas of digital technologies, such as DPI, cyber-security, 5G, and emerging technologies, such as super-computing, quantum computing, and artificial intelligence.
This will also help to enable cooperation for upskilling and reskilling workers in the digital domain.
3 - Health & medicine
The other MoU which has been signed between India’s Ministry of Health and Family Welfare and Singapore’s Ministry of Health on cooperation was in the field of health and medicine.
This agreement aims to facilitate joint efforts on research and innovation, as well as promote closer cooperation in areas of mutual interest and in human resource development in the healthcare and pharmaceutical sectors.
4 - Education cooperation & skill development
The final agreement signed was on educational cooperation and skills development that has been signed between India’s
Ministry of Skill Development and Entrepreneurship and Singapore’s Ministry of Education.
This MoU will complement the ongoing collaboration in the area of skill development and aims to promote closer cooperation in the areas of technical and vocational education as well as training.
The leaders also witnessed exchange of MoUs for cooperation in Semiconductors, Digital Technologies, Skill Development and Healthcare. pic.twitter.com/JLRkRwr4QT
— Randhir Jaiswal (@MEAIndia) September 5, 2024
Prime Minister Modi also shared his remark during his meeting with Singapore PM and said, “We also want to create many Singapores in India and I am happy that we are working together in this direction. The ministerial roundtable that has been formed between us is a path-breaking mechanism."
Sharing my remarks during meeting with PM @LawrenceWongST.https://t.co/ipc5WmnY6x
— Narendra Modi (@narendramodi) September 5, 2024
On the last day of his two-day Singapore visit, PM Modi will meet with Singapore President Tharman Shanmugaratnam and Emeritus senior minister Goh Chok Tong.
He is also slated to hold a business meeting with CEOs in Singapore.
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