Prime Minister Narendra Modi has said that Singapore is not just a partner nation but an inspiration for every developing nation. He called the roundtable formed between India and Singapore a “path-breaking” mechanism.
In his opening remarks at the meeting with his Singaporean counterpart Lawrence Wong, PM Modi stated, “I thank you for your warm welcome. This is our first meeting after you assumed the post of Prime Minister. Many congratulations to you from my side. I am confident that under the leadership of 4G, Singapore will progress even faster.”
“Singapore is not just a partner country, Singapore is an inspiration for every developing country. We also want to create many Singapores in India and I am happy that we are working together in this direction. The ministerial roundtable that has been formed between us is a path-breaking mechanism,” he added.
PM Modi noted that cooperation between two nations in various sectors, including digitalisation, advanced manufacturing and cyber security, has become an identity of India-Singapore ministerial roundtable.
PM Modi said, “Cooperation in the fields of skilling, digitalisation, mobility, advanced manufacturing, semiconductors, AI, healthcare, sustainability and cybersecurity has become a identity of this initiative.”
External Affairs Minister S Jaishankar, National Security Advisor Ajit Doval, Secretary East, Ministry of External Affairs, Jaideep Mazumdar, MEA spokesperson Randhir Jaiswal and other officials were present in the meeting.
Further PM Modi along with his Singaporean counterpart Lawrence Wong visited the semiconductor facility of AEM Holdings Ltd in Singapore on September 5. The two leaders are exploring synergies between the two countries in semiconductor manufacturing.
Lawrence Wong welcomed PM Modi at the semiconductor facility. The two leaders were seen interacting with the officials at the semiconductor facility. The officials at the semiconductor facility of AEM Holdings Ltd also took pictures with PM Modi.
PM Modi’s visit to the semiconductor industry is significant in terms of enhanced trade opportunities between the two friendly countries, as Singapore, despite being a small city-state, has a well-developed semiconductor industry.
The semiconductor industry opens opportunities for India in many aspects, including collaboration in talent development as Singapore universities have developed customised courses for the semiconductor sector, and knowledge sharing about best practices of managing semiconductor industrial parks (called Wafer Fab Parks in Singapore).
In terms of factors of production, Singapore has limitations for land and labour. India, with abundant land and skilled labour, can be part of Singapore’s semiconductor value chain. Semiconductor companies in Singapore can be encouraged to consider India for their expansion plans. Singapore also has semiconductor equipment and material manufacturers. For the development of the semiconductor manufacturing ecosystem in India, engagement and collaboration with such companies may also be helpful.
Singapore has players in all three segments of the semiconductor value chain–i) IC Design: MediaTek, Realtek, Qualcomm, Broadcom, Maxlinear, AMD; ii) Assembly, packaging and testing: ASE Group, Utac, STATS ChipPack, Silicin Box. iii) Wafer fabrication: GlobalFoundries, UMC, Siltronic and Micron, and iv) Equipment/ raw material producers: Soitec, Applied Materials.
Earlier in the day, PM Modi held a meeting with his Singaporean counterpart Lawrence Wong and talks focused on boosting cooperation between two nations in various sectors, including skilling, healthcare, artificial intelligence.
Taking to X, PM Modi stated, “The discussions with my friend, PM Lawrence Wong continued today. Our talks focused on boosting cooperation in areas like skilling, technology, healthcare, AI and more. We both agreed on the need to boost trade relations.”
The discussions with my friend, PM Lawrence Wong continued today. Our talks focused on boosting cooperation in areas like skilling, technology, healthcare, AI and more. We both agreed on the need to boost trade relations. @LawrenceWongST pic.twitter.com/FOSxXQOI3u
— Narendra Modi (@narendramodi) September 5, 2024
India and Singapore exchanged four significant Memorandum of Understandings (MoUs) on September 5, during the day-two visit of PM Modi in the island country.
The agreements encompass collaboration in digital technologies, a partnership in the semiconductor sector, joint initiatives in health and medicine, and cooperation in education and skills development. The MoUs were exchanged in Parliament House of Singapore by External Affairs Minister S Jaishankar and Minister of Foreign Affairs in Singapore Vivian Balakrishnan in the presence of Prime Minister Modi and his Singaporean counterpart Lawrence Wong.
Earlier in the day, PM Modi received the ceremonial welcome at Singapore’s Parliament House on September 5. Wong welcomed PM Modi and the two leaders warmly greeted each other. He signed the visitors book at the Parliament House. PM Modi and Lawrence Wong met ministers and delegates from each other’s countries.
Before his arrival in Singapore, PM Modi was on an official visit to Brunei. During his visit, he held “wide ranging” talks with Brunei Sultan Haji Hassanal Bolkiah at Istana Nurul Iman in Bandar Seri Begawan.
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