India and Singapore have signed a Memorandum of Understanding (MoU) to collaborate on semiconductor ecosystems, the government announced on Thursday.
The MoU was exchanged in the presence of Prime Ministers Narendra Modi and Lawrence Wong during Modi’s visit to Singapore.
“The MoU aims to bolster India’s expanding semiconductor industry while enabling Singapore’s semiconductor companies and related supply chains to engage with the rapidly growing Indian market,” an official statement said.
India is striving to become a global hub for semiconductor manufacturing, fueled by robust domestic demand in the electronics, electric vehicle, and manufacturing sectors.
India and Singapore have signed a Memorandum of Understanding (MoU) to collaborate on semiconductor ecosystems, the government announced on Thursday.
The MoU was exchanged in the presence of Prime Ministers Narendra Modi and Lawrence Wong during Modi’s visit to Singapore.
“The MoU aims to boost India’s growing semiconductor industry while enabling Singapore’s semiconductor companies and related supply chains to tap into the rapidly expanding Indian market,” an official statement said.
India is positioning itself as a global semiconductor manufacturing hub, driven by strong domestic demand in the electronics, electric vehicle, and manufacturing sectors.
Under the agreement, India and Singapore will leverage their complementary strengths to establish resilient semiconductor supply chains.
While Singapore is not a leader in high-end chip manufacturing, it plays a key role in the global tech supply chain by producing lower-end chips used in electric vehicles, smartphones, and other devices. Singapore-based companies may also explore India as a location for assembly and testing operations due to its lower costs.
Singapore accounts for about 10% of global semiconductor output, 5% of global fabrication capacity, and 20% of semiconductor equipment production. Major global semiconductor firms, including Qualcomm, AMD, Applied Materials, GlobalFoundries, and Micron, already have a presence in Singapore.
In addition to semiconductors, MoUs were also signed on digital technology, skill development, and healthcare.
Modi held a roundtable with top business leaders and CEOs in Singapore, where he discussed ways to strengthen economic ties. He emphasized the ongoing reforms in India aimed at fostering investment and innovation and encouraged Singaporean business leaders to explore opportunities in sectors such as aviation, energy, and skill development.
