India, Singapore Sign Pacts For Semiconductors, Healthcare And Talent
India and Singapore on Thursday signed four Memorandums of Understanding (MoUs) in the fields of digital technologies, semiconductors, health cooperation, and skill development, at the sidelines of Prime Minister Narendra Modi's visit to the island nation.
Modi also visited AEM Singapore, a leading Singaporean company in the semiconductor and electronics sector on Thursday. He was accompanied by his Singapore counterpart Lawrence Wong. Modi extended an invitation to the Singaporean semiconductor companies to participate in SEMICON INDIA exhibition to be held in Greater Noida later in September.
India-Singapore: Key Deals
The key pact among the ones signed between both the nations focuses on semiconductors. The pact was signed by Union Minister for Electronics and Information Technology Ashwini Vaishnaw and Singapore's Minister for Digital Development and Information Josephine Teo on the sidelines of the second India-Singapore Ministerial Roundtable.
"India aims to establish a global node for semiconductor manufacturing and has strong domestic demand in the electronics, electric vehicles, and manufacturing sectors that would benefit from its semiconductor industry growth. Singapore's established semiconductor ecosystem has given rise to more domestic semiconductor ecosystem players who are keen to enter emerging global nodes such as the Indian market," a statement read.
The two countries will also look to advance semiconductor supply chains via government-led policy exchanges on ecosystem development, supply chain resilience, and workforce development.
Further, Vaishnaw also signed a pact to facilitate closer cooperation between India and Singapore in the areas of digital technologies, such as DPI, cybersecurity, 5G, and emerging technologies such as supercomputing, quantum computing, and artificial intelligence.
India's CERT-In and Singapore's Cyber Emergency Response Team will also be working together closely as part of this pact.
Jayant Chaudhary, MoS for Skill Development and Entrepreneurship, also signed a pact to build capabilities in technical and vocational education and for cooperation in upskilling and reskilling of workers relating to the digital domain. Health Minister Jagat Prakash Nadda also signed an MoU for cooperation in areas such as disease surveillance, maternal and child health, prevention of communicable and noncommunicable diseases, and pandemic preparedness.
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