On Thursday, Prime Minister Narendra Modi along with his Singaporean counterpart Lawrence Wong visited the semiconductor facility of AEM Holdings Ltd in Singapore. 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).
Sharing my remarks during meeting with PM @LawrenceWongST.https://t.co/ipc5WmnY6x
— Narendra Modi (@narendramodi) September 5, 2024
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.
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