On Thursday, Prime Minister Narendra Modi and his colleague Lawrence Wong visited AEM Holdings, a prominent business in the semiconductor and electronics industry, to explore potential collaborations.
Additionally, Singaporean semiconductor businesses were invited by PM Modi to take part in the ‘SEMICON INDIA’ show, which is scheduled to take place in Greater Noida from September 11–13.
The Prime Minister also met with Singaporean interns who had come to India as part of the ‘CII-Enterprise Singapore India Ready Talent Programme’, Indian engineers working at the AEM facility, and Indian interns from Odisha’s ‘World Skill Center’ who were training in Singapore, according to a statement from the MEA.
Both the leaders were briefed about AEM’s role in the global semiconductor value chain, its operations and plans for India.
Singapore Semiconductor Industry Association gave a briefing on the development of the semiconductor ecosystem in Singapore and opportunities for collaboration with India. Representatives of several other Singaporean companies from this sector were also present.
“Given our efforts to develop the semiconductor manufacturing ecosystem in India and Singapore’s strengths in this sector, both sides have decided to expand bilateral cooperation,” according to the MEA.
During the second meeting of the India-Singapore Ministerial Roundtable, both sides agreed to add advanced manufacturing, with a focus on semiconductors, as a pillar for enhancing bilateral cooperation.
According to the MEA, both sides have also concluded the MoU on India-Singapore semiconductor ecosystem partnership.
“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 this week, the Union Cabinet, chaired by PM Modi, approved the proposal of Kaynes Semicon Pvt Ltd to set up a semiconductor unit in Sanand, Gujarat, with an investment of ₹ 3,300 crore. The proposed unit, under the India Semiconductor Mission (ISM), will produce nearly 60 lakh chips per day.
Prime Minister Modi dedicated three ₹ 1.25 lakh crore semiconductor projects in March. India’s semiconductor-related business is expected to grow to $64 billion by 2026, about three times larger than it was in 2019.
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Source: NDTV
