Singapore and India have exchanged a memorandum of understanding (MoU) to partner and cooperate on semiconductors. 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 Indian market.
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, Singapore's Ministry of Trade and Industry (MTI) noted. Singapore’s semiconductor ecosystem has produced a strong cluster of semiconductor companies which are keen to participate in the growth of India’s semiconductor industry.
Under the MOU, Singapore and India will leverage complementary strengths in their semiconductor ecosystems and tap on opportunities to build resilience in their semiconductor supply chains. This will include government-led policy exchanges on ecosystem development, supply chain resilience, and workforce development. The 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 be established and led by Enterprise Singapore and the India Semiconductor Mission (ISM) to encourage and catalyse more private sector partnerships between both countries.
Singapore Deputy PM and Minister for Trade and Industry Gan Kim Yong said: “This MoU signals India’s and Singapore’s commitment to work together in the field of semiconductors to address the demand from industries around the world. This will also strengthen semiconductor supply chain resilience and create new markets and opportunities for businesses in our countries.”
“Singapore plays an important role in the global semiconductor supply chain. Our companies bring with them extensive expertise through their collaborations with global semiconductor players, and can value-add by providing services, solutions, components and more to global chipmakers and large equipment manufacturers. These capabilities and track record position them well to cement and strengthen the partnership between Singapore and India in the semiconductor space,” said Deputy MD, Enterprise Singapore, Tan Soon Kim.
“Through our series of semiconductor delegations to India this year, EnterpriseSG has also seen positive reception from the engagements between Singapore companies and Indian officials and partners. We encourage more companies to leverage this latest MoU to tap on the growing opportunities in India.”
The MoU was exchanged in the presence of India’s PM Narendra Modi and
Singapore PM Lawrence Wong during PM Modi’s official visit to
Singapore. During his visit, PM Modi visited semiconductor ecosystem
player AEM Singapore and engaged with ecosystem players and institutions
such as APP Systems, Century Water, Ecsal Technologies, NexGen Wafer
Systems, PEP Innovation and Temasek Polytechnic.
The Singapore semiconductor ecosystem players have significant activity in India. EnterpriseSG is partnering the Singapore Precision Engineering & Technology Association (SPETA) to feature the Singapore Pavilion at the inaugural SEMICON India event, taking place from 11-13 September 2024 in New Delhi. More than 20 Singapore companies will be participating in the event to exhibit their solutions and seek cross-border partnerships.
The Singapore Semiconductor Industry Association (SSIA) is also planning a business mission to India, in partnership with India Electronics and Semiconductor Association.
These follow from a series of ongoing initiatives to build greater awareness of Singapore’s semiconductor competencies in India. In July and August 2024, EnterpriseSG led business delegations to Gujarat and Maharashtra to discuss collaboration opportunities between Singapore semiconductor ecosystem players and key stakeholders in India.
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