Singapore, India Exchange Mou On Semiconductor Ecosystem Partnership

SINGAPORE, Sept 5 (Bernama) -- Singapore and India on Wednesday exchanged a memorandum of understanding (MoU) to partner and cooperate in the semiconductor industry.

Singapore’s Ministry of Trade and Industry (MTI) in a statement said the agreement aims to support India’s growing semiconductor industry while facilitating the island republic’s ecosystem of semiconductor companies and related supply chains to participate in the fast-growing Indian market.

The MoU was exchanged in the presence of Singapore Prime Minister Lawrence Wong and his counterpart from India, Narendra Modi who is on a two-day official visit to Singapore.

The agreement was signed earlier between Singapore’s Deputy Prime Minister and Trade and Industry Minister Gan Kim Yong, and India’s Electronics and Information Technology Minister Ashwini Vaishnaw on the sidelines of the India-Singapore Ministerial Roundtable on Aug 26.

Gan said the MoU with India demonstrates both nations' commitment to collaborate in the semiconductor sector. The agreement aims to address global industry demand by leveraging the strengths of both countries in the semiconductor field.

“This will also strengthen semiconductor supply chain resilience and create new markets and opportunities for businesses in our countries,” he said in the statement.

Under the MOU, Singapore and India will leverage complementary strengths in their semiconductor ecosystems and tap into opportunities to build resilience in their semiconductor supply chains, including government-led policy exchanges on ecosystem development, supply chain resilience, and workforce development.

In addition, Singapore’s MTI and India’s Ministry of Electronics and Information Technology (MeitY) will establish a policy dialogue to facilitate discussions, oversee the implementation of the areas of collaboration, and exchange best practices.

A parallel business-to-business cooperation forum will also be established and led by Enterprise Singapore and the India Semiconductor Mission (ISM) to encourage and catalyse more private sector partnerships between both countries.

During his visit to Singapore, Modi visited the local semiconductor ecosystem player, AEM Singapore.

Modi also engaged with ecosystem players and institutions such as APP Systems, Century Water, Ecsal Technologies, NexGen Wafer Systems, PEP Innovation, and Temasek Polytechnic.

-- BERNAMA