Singapore and India exchanged four new Memoranda of Understanding (MOU) for cooperation in the fields of semiconductors, digital technologies, education, and health and medicine on Sep. 5, 2024. The exchange took place in the presence of India’s Prime Minister Narendra Modi and Singapore’s Prime Minister Lawrence Wong during Modi’s official visit to Singapore. Both leaders expressed satisfaction with the bilateral relationship and agreed to elevate it to a “Comprehensive Strategic Partnership” to deepen and broaden cooperation.
Background
The four new MOUs reflect the “comprehensive” and “future-oriented” nature of Singapore’s cooperation with India, according to a Ministry of Foreign Affairs (MFA) press release. This move aims to add depth and breadth to the bilateral relationship between the two countries. Modi also met with President Tharman Shanmugaratnam and other Singapore political leaders, including Senior Minister Lee Hsien Loong and Emeritus Senior Minister Goh Chok Tong, to discuss various aspects of the bilateral relationship.
Four new Memoranda of Understanding
The MOUs signed cover a range of sectors, each aiming to bolster the bilateral relationship and address global challenges.
Semiconductors
The India-Singapore Semiconductor Ecosystem Partnership MOU aims to support India’s growing semiconductor industry while facilitating Singapore’s semiconductor companies and related supply chains in the Indian market. This MOU was signed by Deputy Prime Minister and Minister for Trade and Industry, Gan Kim Yong, and India’s Minister of Electronics and Information Technology, Ashwini Vaishnaw, on Aug. 26 at the India-Singapore Ministerial Roundtable.
“This MOU signals India’s and Singapore’s commitment to work together in the field of semiconductors to address the demand from industries around the world,” said Gan. “This will also strengthen semiconductor supply chain resilience and create new markets and opportunities for businesses in our countries.”
Under the MOU, both countries will leverage complementary strengths in their semiconductor ecosystems and tap on opportunities to build resilience in their semiconductor supply chains. This includes government-led policy exchanges on ecosystem development, supply chain resilience, and workforce development. The Ministry of Trade and Industry (MTI) and India’s Ministry of Electronics and Information Technology (MeitY) will hold discussions in a Policy Dialogue to oversee the implementation of the collaboration areas and exchange best practices.
During his visit, Modi was hosted by Singapore semiconductor ecosystem company AEM for a site visit, which included a sharing session led by the Singapore Semiconductor Industry Association (SSIA) and a tour of AEM’s facilities.
Other areas of collaboration
In addition to the MOU on semiconductors, other agreements were signed to enhance cooperation in digital technologies, skills certification, and healthcare, medical education, and research. The two leaders also discussed sustainability, defence relationships, trade relationships, regional security, and international forums like the United Nations, the World Trade Organization, and ASEAN.
Met and had discussions with President Tharman, SM Lee and ESM Goh
Modi also had a separate meeting with President Tharman, where they discussed the bilateral ties between Singapore and India. In a Facebook post on Sep. 5, Modi said he had a “very good meeting” with President Tharman, discussing key focus sectors like skill development, sustainability, technology, innovation, and connectivity. He also met ESM Goh for “extensive” discussions on ways to add momentum to the India-Singapore friendship and expressed his appreciation for ESM Goh’s experience and expertise. Modi also met with SM Lee to discuss how Singapore and India can work together in futuristic areas such as green energy and FinTech.
“It is always gladdening to meet my friend and former PM of Singapore,” Modi wrote in a separate Facebook post, commending SM Lee’s insights on various topics as “enriching.”
Future implications
The signing of these MOUs marks a significant step in strengthening the bilateral relationship between Singapore and India. The agreements are expected to create new markets and opportunities for businesses in both countries, particularly in the semiconductor industry. The collaboration also aims to address global challenges such as supply chain resilience and workforce development. As both nations continue to work closely, these agreements could pave the way for further advancements in digital technologies, education, and healthcare, benefiting not only the two countries but also the broader global community. Modi is set to conclude his visit and depart from Singapore on the night of Sep. 5.
