India and Singapore have signed a crucial Memorandum of Understanding (MoU) on Semiconductor Ecosystem Partnership during Prime Minister Narendra Modi’s visit to Singapore. This agreement paves the way for Singaporean semiconductor companies to enter the growing Indian market and deepen ties between the two nations.
During his visit, PM Modi engaged with leading CEOs from Singapore’s semiconductor industry. The MoU focuses on fostering collaboration in talent development, knowledge exchange, and manufacturing. Singapore, with its limited land and labor, sees India as an ideal partner due to its abundant resources and skilled workforce, offering significant potential for expanding Singapore’s semiconductor operations.
An official highlighted India’s critical role in the semiconductor value chain, emphasizing how Singaporean companies could consider expanding operations in India. Both countries are committed to building a resilient semiconductor supply chain and aligning their policies to support the growth of this key sector.
Singapore contributes to about 10% of global semiconductor production, 5% of global fabrication capacity, and 20% of semiconductor equipment manufacturing. Global giants like Qualcomm, AMD, Micron, and Applied Materials already have a strong presence in Singapore, reflecting the nation’s importance in the semiconductor industry.
As India continues to emerge as a key player in technology and manufacturing, this partnership offers promising opportunities for growth and innovation in the semiconductor sector.
