Singapore, India to leverage each other's strengths in semiconductor and digital tech

The two countries exchanged a memorandum of understanding (MoU) in the presence of Prime Minister Narendra Modi and his Singaporean counterpart Lawrence Wong on the final day of Modis latest visit to Singapore..

The agreement aims to support Indias growing semiconductor industry while facilitating Singapores ecosystem of semiconductor companies and related supply chains to participate in the fast-growing Indian market, said Singapores Ministry of Trade and Industry (MTI) in a statement...

Singapores established semiconductor ecosystem has produced a strong cluster of semiconductor companies which are keen to participate in the growth of Indias semiconductor industry, it said.. With the agreement, Singapore and India will leverage each others strengths in the semiconductor industry and build their supply chains, which include government-led policy exchanges on ecosystem development, supply chain resilience and workforce development, said MTI...

Meanwhile, speaking at the Singapore-India forum on Thursday, Deputy Prime Minister Heng Swee Keat noted that since the signing of the Comprehensive Economic Cooperation Agreement (CECA) in 2005, annual bilateral trade has grown from SGD 20 billion to SGD 51.2 billion in 2022..

The visit comprised a sharing led by Singapore Semiconductor Industry Association (SSIA) on the development of Singapores semiconductor industry and opportunities for mutual collaboration between Singapore and India partners, and a tour of AEMs facilities, said MTI...

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