Indian Prime Minister Narendra Modi also formally met the new Prime Minister of Singapore Lawrence Wong on September 5, 2024. Besides, during this meeting, the leaders of the two countries reached consensus in a series of areas to further promote and develop the bilateral relationship and strategic partnership.
After a lot of deliberation, Indian Prime Minister Modi and Australian Prime Minister Wong have agreed to four MoUs on sectors such as semiconductors, digital technology, healthcare, and skill development. These agreements were finalized under the close watch of the two leaders.
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Key Details of the Agreements:
Partnership on Digital Technologies: An MoU was signed between the Ministry of Electronics and Information Technology, India and Ministry of Digital Economy and Society, Singapore. The understanding will specifically allow collaboration in emerging technologies such as digital technology, cybersecurity, 5G, supercomputing, quantum computing, and artificial intelligence amongst others. The partnership will also focus on skills development in these areas.
Collaboration in Semiconductor Ecosystem: Another MoU was signed between India’s Ministry of Electronics and Information Technology and Singapore’s Ministry of Trade and Industry. This agreement aims to enhance cooperation in semiconductor design, manufacturing, and skill development. Further, Singapore will invest in the semiconductor sector of India. Singapore is a key player in semiconductor production, as it accounts for 10% of global semiconductor manufacturing and 20% of semiconductor manufacturing equipment production.
Healthcare Collaboration: An MoU was inked between India’s Ministry of Health and Singapore’s Ministry of Health and Medical Services. This MoU pertains to research and collaboration in the medical and pharmaceutical sectors.
Skill Development and Vocational Training: The last MoU will be on technical and vocational training for youth in both countries by India’s Ministry of Skill Development and Entrepreneurship and Singapore’s Ministry of Education.
Prime Minister Modi welcomed his counterpart, Wong: “This is our first meeting since you assumed office as premier. Congratulations from my side. I’m sure under the leadership of the 4G, or the fourth generation, leaders, Singapore will keep marching ahead rapidly.
