SINGAPORE: Singapore and India on Thursday (Sep 5) exchanged a Memorandum of Understanding (MOU) to cooperate in the semiconductor industry and digital technologies.
The MOU “aims to support India’s growing semiconductor industry while facilitating Singapore’s ecosystem of semiconductor companies and related supply chains to participate in the fast-growing Indian market”, said the Ministry of Trade and Industry in a press release on Thursday.
The ceremony was witnessed by the two prime ministers, Mr Lawrence Wong and Mr Narendra Modi, on the final day of the Mr Modi’s latest visit to Singapore. It’s his fifth since taking office 10 years ago.
The MOU was earlier signed by Singapore Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong, and India Minister of Electronics and Information Technology Ashwini Vaishnaw during the India-Singapore Ministerial Roundtable on Aug 26.
“India aims to establish itself as a global node for semiconductor manufacturing, driven by strong domestic demand in the electronics, electric vehicles, and manufacturing sectors,” said MTI.
“Singapore’s established semiconductor ecosystem has produced a strong cluster of semiconductor companies which are keen to participate in the growth of India’s semiconductor industry.”
From: channelnewsasia
Business News
