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The Ministry of Trade and Industry of Singapore has said that India and Singapore agreed to cooperate in the development of the semiconductor ecosystem. Both countries signed a Memorandum of Understanding (MoU) for cooperation in the sector. The MOU was exchanged in the presence of India’s Prime Minister Narendra Modi and Prime Minister Lawrence Wong during Prime Minister Modi’s Official Visit to Singapore.

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. Under the MOU, Singapore and India will leverage complementary strengths in their semiconductor ecosystems and tap into opportunities to build resilience in their semiconductor supply chains. This will include government policy exchanges on ecosystem development, supply chain resilience, and workforce development.

The Ministry of Trade and Industry (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 catalyze more private-sector partnerships between both countries.