India and Singapore cooperation in Semiconductor Field
India And Singapore Semiconductors Deal: During Prime Minister Narendra Modi’s visit to Singapore, a deal has been signed between the two countries regarding partnership in the semiconductor field. The agreement in the field of semiconductors was signed in the presence of the Prime Ministers of both the countries. Now after this agreement, the way for the entry of Singapore’s semiconductor companies in India will become easier. According to the official statement issued by the Singapore government on Thursday, the MoU was exchanged in the presence of Prime Minister Modi and Singapore Prime Minister Lawrence Wong. Both the countries have named this agreement as India Singapore Semiconductor Ecosystem Partnership.
‘Supporting the semiconductor industry’
A statement issued by the Singapore government said, “Singapore and India exchanged a Memorandum of Understanding for partnership and cooperation in the field of semiconductors. The MoU aims to support India’s growing semiconductor industry, as well as facilitate Singapore’s semiconductor companies and related supply chain ecosystem to participate in the rapidly growing Indian market.
Both countries will benefit
“Under the MoU, Singapore and India will leverage complementary expertise in their semiconductor ecosystems and explore opportunities to strengthen their semiconductor supply chains,” the statement said. Initiatives under the agreement will include government-led policy exchanges on ecosystem development, supply chain strengthening and workforce development.
Singapore has an important place in the field of semiconductors
The statement said, “The Ministry of Trade and Industry (MTI) and the Ministry of Electronics and Information Technology (MeitY) of India will establish a ‘policy dialogue’ to facilitate discussions, monitor the progress of areas of cooperation and exchange best practices.” Let us tell you that Singapore has established a semiconductor ecosystem. It has created a strong group of semiconductor companies, which are eager to participate in the growth of India’s semiconductor industry.
what is a semiconductor
Singapore contributes 10 per cent to global semiconductor output. Semiconductors are used in various electrical devices such as smartphones, chips, computing, smart TVs. Semiconductors are made from silicon, gallium arsenide and other things. Their job is to allow free flow of electricity. They are also used in memory devices, microprocessors and CMOS sensors. (Language)
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