Semiconductor Cooperation: India and Singapore Strengthen Collaboration

India and Singapore have agreed to expand their cooperation in the fields of semiconductor and digital technologies. This move comes against the backdrop of a global restructuring of chip supply chains triggered by tensions between the US and China. During a two-day visit to Singapore by Indian Prime Minister Narendra Modi, the countries signed agreements to promote talent in chip design and production. Additionally, Singapore's investments in the Indian technology sector are to be facilitated. The cooperation will also be intensified in the areas of cybersecurity, 5G mobile networks, supercomputing, and artificial intelligence. Singapore, India, and Malaysia are among the Asian economic powers benefiting from the ongoing US-China chip conflict. As China and Western countries develop independent supply chains to minimize geopolitical risks, new business opportunities are emerging for the semiconductor industry, which is expected to generate $588 billion in revenue this year. India's semiconductor industry is still in its infancy, whereas Singapore has played a significant role in this sector for decades. The city hosts major chip factories like NXP Semiconductors and Micron Technology. Moreover, Singapore boasts highly skilled researchers and engineers, as well as ample venture capital for chip start-ups. Modi's cooperation with Singapore underscores his ambition to develop India into a leading technology power. During his trip, he met with Prime Minister Lawrence Wong and other key officials. Additional agreements were concluded in the areas of health, medicine, and workforce development. A closer connection to the Indian semiconductor industry could allow Singaporean companies to better tap into the rapidly growing South Asian market. Singapore's Foreign Minister, Vivian Balakrishnan, emphasized that Singapore is closely monitoring India's significant stakes in the global semiconductor manufacturing capacity. The Indian government has laid out a $21 billion plan to strengthen the country's semiconductor capacities. Singapore's expertise in memory chips and established logic processors, which are used in many electronic devices and automobiles, could help India accelerate the growth of its chip industry.