India, Singapore Sign MoUs For Cooperation In Semiconductors, Digital Tech As Prime Minister Modi Meets Singapore PM Wong—All About It

India and Singapore elevated their bilateral relationship to a "comprehensive strategic partnership" and signed four Memorandums of Understanding (MoUs), including one in the semiconductor sector.

The agreements were signed during the Singpaore visit of Prime Minister Narendra Modi.

During his visit, PM Modi met with Singapore's Prime Minister Lawrence Wong.

The MoUs signed are — Cooperation in the Field of Digital Technologies, India-Singapore Semiconductor Ecosystem Partnership; Cooperation in the Field of Health and Medicine, and on Educational Cooperation and Skills Development.

In his opening address, Modi described Singapore as both a partner nation and an inspiration for developing countries.

MEA spokesperson Randhir Jaiswal later shared on X, “A new chapter in – ties: Comprehensive Strategic Partnership established. PM @narendramodi and PM @LawrenceWongST held a productive meeting in Singapore today".

“The leaders agreed to elevate the ties to Comprehensive Strategic Partnership. They extensively reviewed various facets of the bilateral relationship covering areas of Advanced Manufacturing, Connectivity, Digitalisation, Healthcare & Medicine, Skills Development and Sustainability,” he said.

In a statement, the MEA said both leaders reviewed the progress of India-Singapore bilateral relations.

“Given the breadth and depth of bilateral ties and immense potential, they decided to elevate the relationship to a Comprehensive Strategic Partnership. This would also give a major boost to India’s Act East Policy,” it said.

Taking stock of the robust progress in economic ties, the leaders called for further expanding trade and investment flows between the two countries.

Prime Minister highlighted that Singapore with an investment of around USD 160 billion in the Indian economy, is a leading economic partner for India.

He further noted that rapid and sustained growth in India has opened up immense investment opportunities for Singaporean entities, it added.

They also reviewed existing cooperation in the fields of defence and security, maritime domain awareness, education, AI, Fintech, new technology domains, science and technology and knowledge partnership.

The two leaders called for strengthening connectivity between the countries to enhance economic and people-to-people ties. They also called for acceleration in green corridor projects

The two leaders discussed the outcome of the 2nd India-Singapore Ministerial Roundtable held in Singapore in August 2024.

“Noting that the Ministerial Roundtable is a unique mechanism, the leaders appreciated the work done by senior ministers from both sides in deliberating and identifying a new agenda for bilateral cooperation. The leaders called for accelerated action under the pillars of cooperation identified during the Ministerial Roundtables — advanced manufacturing, connectivity, digitalisation, healthcare & medicine, skills development and sustainability,” the statement said.

The leaders underscored that the cooperation under these pillars, particularly in the areas of semiconductors and critical and emerging technologies, opens a new chapter in bilateral relations making the bilateral ties future oriented.

Both leaders witnessed exchange of MoUs for cooperation in Semiconductors, Digital Technologies, Skill Development and Healthcare, the statement said, adding that these are the outcomes of the deliberations during the two rounds of India-Singapore Ministerial Roundtables held so far.

PM Narendra Modi also invited Prime Minister Wong to visit India which he accepted.

Also Read: Russia Secretly Sourcing Sensitive Goods From India To Support Its War Effort In Ukraine: Report