Leaders of India and Singapore sign deal to cooperate on semiconductors
- Sep 8, 2024
- 1 min read
India and Singapore have signed an agreement to cooperate in the semiconductor sector, aimed at enhancing Singaporean firms' roles in Indian supply chains. The Memorandum of Understanding (MoU) was signed during Indian Prime Minister Narendra Modi's visit to Singapore. The partnership focuses on leveraging complementary strengths in both countries' semiconductor ecosystems and building supply chain resilience.
Singapore, a key player in the semiconductor industry with 11% of the global market share, will engage in policy exchanges with India on ecosystem development and workforce growth. India, with a $10 billion initiative to bolster its semiconductor sector, aims to compete with leading countries like Taiwan.
During the visit, Modi also met with Singapore's Prime Minister Lawrence Wong and President Tharman Shanmugaratnam. The two countries signed additional agreements on digital technologies, education, skills development, and health and medicine.
Article by Martin Petty and Tanvi Mehta for Reuters. Read more here or in the PDF below.
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