Breaking News: PM Modi’s Key Discussions on Semiconductor Collaboration in Singapore
PM Narendra Modi was accompanied by the Singapore PM for visiting a leading semiconductor company.
Singapore:
Prime Minister Narendra Modi, along with Singapore’s Prime Minister Lawrence Wong, paid a significant visit to AEM Holdings in Singapore on Thursday. AEM Holdings is an influential player in the semiconductor and electronics industry. The meeting focused on exploring potential areas for collaboration between the two nations in this high-tech sector.
PM Modi extended an invitation to Singaporean semiconductor firms to participate in ‘SEMICON INDIA,‘ which is set to take place in Greater Noida from September 11 to 13. This international exhibition aims to draw global attention toward India’s growing semiconductor capabilities.
The Prime Minister’s Activities in Singapore
According to a statement from the Ministry of External Affairs (MEA), PM Modi took time to interact with Indian interns from Odisha’s ‘World Skill Center’ who are currently training in Singapore. He also met with Singaporean interns who have visited India through the ‘CII-Enterprise Singapore India Ready Talent Programme,’ as well as with Indian engineers employed at AEM’s facility.
PM Modi and PM Wong were briefed on AEM’s function within the global semiconductor value chain, its current operations, and its future plans involving India. Representatives from the Singapore Semiconductor Industry Association offered insights into the development of Singapore’s semiconductor ecosystem and discussed potential collaborative efforts with India.
Multinational Presence and Agreements
Representatives from several other Singaporean semiconductor firms were also present during the discussion. According to the MEA, there is a mutual interest in expanding bilateral cooperation focusing on the semiconductor industry, leveraging each nation’s strengths.
During the recent India-Singapore Ministerial Roundtable, both countries agreed to prioritize advanced manufacturing, centering on semiconductors, as a key area of collaboration. Subsequently, an MoU (Memorandum of Understanding) on the India-Singapore semiconductor ecosystem partnership was signed.
The MEA statement highlighted the importance of the visit, noting that it demonstrates the commitment of both countries to fostering cooperation in this technological field. PM Modi extended his heartfelt thanks to PM Wong for joining him during the visit.
Recent Developments in India’s Semiconductor Sector
In a related development earlier this week, the Union Cabinet, led by PM Modi, greenlit a proposal from Kaynes Semicon Pvt Ltd to establish a semiconductor unit in Sanand, Gujarat, with an investment of Rs 3,300 crore. This venture, part of the India Semiconductor Mission (ISM), is expected to produce around 60 lakh chips daily.
Back in March, PM Modi laid the foundation stones for three semiconductor projects worth Rs 1.25 lakh crore. Reports suggest that India’s semiconductor market will see substantial growth, expected to reach $64 billion by 2026, nearly triple its size in 2019.
