India and Singapore ink deal to cooperate on semiconductors
The two countries signed agreements to cultivate talent in chip design and manufacturing and boost Singaporean tech investment in India.
India and Singapore have agreed to step up collaboration in semiconductors and digital technologies as they aim for a more prominent role in the global chip supply chain rocked by tensions between the US and China.
During a two-day visit by Indian Prime Minister Narendra Modi to Singapore, the two sides signed agreements to cultivate talent in chip design and manufacturing and boost Singaporean tech investment in India, a statement from the Indian government said.
They also pledged to work closely in areas like cybersecurity, super-computing, fifth-generation mobile networks and AI, Bloomberg reports.
“Singapore and India will leverage complementary strengths in their semiconductor ecosystems and tap on opportunities to build resilience in their semiconductor supply chains,” Singapore’s trade ministry said in a statement. “This will include government-led policy exchanges on ecosystem development, supply chain resilience, and workforce development.”
Despite being a small country, Singapore accounts for 10% of chips produced worldwide and about 20% of global semiconductor manufacturing equipment production, according to Singapore’s Economic Development Board.
The city-state is home to some big chip manufacturing plants in Southeast Asia, hosting international groups such as NXP Semiconductors and Micron Technology.
The new tie-ups reflect India’s ambition to become a technology superpower and bolster its semiconductor ecosystem.
The Modi government has launched a USD 21 billion plan to shore up chip capabilities in the country; USD 15 billion worth of investment in chipmaking units was announced this year.
