On Thursday, Prime Minister Narendra Modi, accompanied by Singaporean Prime Minister Lawrence Wong, toured AEM Holdings, a prominent player in the semiconductor and electronics sector, to explore potential collaboration opportunities.
The visit underscores a growing partnership between India and Singapore in the high-tech manufacturing arena.
During their visit, PM Modi extended an invitation to Singaporean semiconductor firms to participate in the upcoming ‘SEMICON INDIA’ exhibition, likely to take place in Greater Noida from 11-13 September.
This event aims to showcase advancements and foster collaborations within the semiconductor industry.
A statement from the Ministry of External Affairs (MEA) detailed the engagements during the visit, including interactions with Indian interns from Odisha’s ‘World Skill Center’ who are receiving training in Singapore, and Singaporean interns who previously participated in the ‘CII-Enterprise Singapore India Ready Talent Programme’.
The Prime Ministers also met with Indian engineers employed at AEM Holdings.
The briefing covered AEM’s significant role in the global semiconductor value chain, its operational strategies, and future plans related to India.
Additionally, the Singapore Semiconductor Industry Association presented an overview of Singapore’s semiconductor ecosystem and explored collaborative opportunities with India.
The meeting also marked the second India-Singapore Ministerial Roundtable, where both sides agreed to incorporate advanced manufacturing, particularly in semiconductors, as a key pillar of their bilateral cooperation.
The finalization of the MoU on the India-Singapore semiconductor ecosystem partnership was also announced.
“This visit by both the Prime Ministers underscores the commitment of both sides to develop cooperation in this area. Prime Minister Modi conveyed his appreciation to Prime Minister Wong for joining him in this visit,” the MEA statement read.
Earlier in the week, the Union Cabinet, led by PM Modi, approved a proposal for Kaynes Semicon Pvt Ltd to establish a semiconductor manufacturing unit in Sanand, Gujarat, with a substantial investment of Rs 3,300 crore.
This facility is likely to produce approximately 6 million chips daily.
In March, PM Modi had inaugurated three major semiconductor projects worth Rs 1.25 lakh crore.
Reports indicate that India’s semiconductor market is to reach $64 billion by 2026, nearly tripling in size from 2019.
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