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Singapore and India have taken a significant step forward in their technological collaboration by signing a Memorandum of Understanding (MOU) aimed at bolstering their semiconductor ecosystems. The agreement was formalised during Indian Prime Minister Narendra Modi’s official visit to Singapore and is set to enhance cooperation between the two countries in the rapidly evolving semiconductor sector.
This collaboration reflects a strategic partnership designed to support India’s expanding semiconductor industry while integrating Singapore’s well-established semiconductor ecosystem into the growing Indian market.
India is working to position itself as a major global node for semiconductor manufacturing. This ambition is fueled by a surge in domestic demand across sectors such as electronics, electric vehicles, and general manufacturing. The country’s efforts are focused on developing a robust semiconductor industry to meet this growing demand and to become a critical player in the global semiconductor supply chain.
Singapore, with its advanced and established semiconductor ecosystem, is well-positioned to support India’s objectives. Singapore’s semiconductor industry comprises a network of companies that have a strong track record and are eager to tap into the Indian market’s potential. The MOU aims to leverage this expertise and integrate Singaporean semiconductor companies and supply chains into India’s burgeoning semiconductor sector.
The MOU outlines several key areas of collaboration between Singapore and India. One of the primary goals is to enhance resilience in the semiconductor supply chain. This will involve exchanging policies and best practices related to ecosystem development, supply chain robustness, and workforce development.
To facilitate these exchanges, a Policy Dialogue will be established, led by Singapore’s Ministry of Trade and Industry (MTI) and India’s Ministry of Electronics and Information Technology (MeitY). This dialogue will oversee the implementation of collaborative initiatives and share insights to strengthen both countries’ semiconductor sectors.
In addition to the Policy Dialogue, a business-to-business Cooperation Forum will be set up. This forum will be managed by Enterprise Singapore and the India Semiconductor Mission (ISM) and aims to foster private sector partnerships between Singaporean and Indian companies. The forum will serve as a platform to stimulate collaboration and encourage private sector investment in the semiconductor field.
Deputy Prime Minister Gan Kim Yong highlighted the significance of the MOU, stating, “This agreement underscores our commitment to working together in the semiconductor sector to meet the global demand from various industries. It will enhance supply chain resilience and create new markets and opportunities for businesses in both countries.”
Tan Soon Kim, Deputy Managing Director of Enterprise Singapore, remarked on Singapore’s role in the global semiconductor landscape. “Singapore’s extensive expertise and successful collaborations with international semiconductor players make us well-positioned to strengthen our partnership with India. We look forward to leveraging this MOU to unlock new opportunities for our companies in India,” he said.
Prime Minister Modi’s visit also included a tour of AEM Singapore, a prominent player in Singapore’s semiconductor industry. The visit showcased Singapore’s semiconductor sector and highlighted opportunities for mutual collaboration between Singaporean and Indian partners. Modi engaged with various ecosystem players and institutions, gaining insights into Singapore’s semiconductor industry’s development and future prospects.
In the coming months, Enterprise Singapore, in partnership with the Singapore Precision Engineering & Technology Association (SPETA), will feature the Singapore Pavilion at the inaugural SEMICON India event, scheduled for September 11-13, 2024, in New Delhi. Over 20 Singaporean companies will participate, showcasing their solutions and exploring cross-border partnerships. Additionally, SSIA plans a business mission to India in collaboration with the India Electronics and Semiconductor Association to further enhance bilateral engagement.
These activities build on ongoing initiatives, including recent business delegations to Gujarat and Maharashtra, aimed at exploring collaborative opportunities between Singapore’s semiconductor ecosystem and Indian stakeholders.
