SINGAPORE: On Thursday, September 5, Singapore and India exchanged a Memorandum of Understanding (MOU) to collaborate in digital technologies and the semiconductor industry.
According to a press release from the Ministry of Trade and Industry on Thursday, 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.”
On the last day of Mr. Modi’s most recent visit to Singapore, the two prime ministers, Mr. Lawrence Wong and Mr. Narendra Modi, attended the ceremony. He’s held five since assuming office a decade ago.
Earlier on August 26, during the India-Singapore Ministerial Roundtable, the MOU was signed by India’s Minister of Electronics and Information Technology Ashwini Vaishnaw and Singapore’s Deputy Prime Minister and Minister for Trade and Industry, Gan Kim Yong.
Driven by robust domestic demand in the electronics, electric vehicle, and manufacturing sectors, India hopes to become a global hub for semiconductor manufacturing, according to MTI.
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