Singapore, known for its expertise in producing low-end chips essential for electric vehicles and smartphones, has a semiconductor industry that constitutes 7-8% of its GDP and contributes 10% to global semiconductor output. The collaboration will support India’s aim to establish itself as a global semiconductor manufacturing hub, particularly in sectors like electronics and electric vehicles.

The digital cooperation pact focuses on governance frameworks for data protection, enabling secure data flows and cooperation between cybersecurity agencies in both countries. Additionally, both leaders discussed enhancing partnerships in sustainability, green hydrogen, green ammonia, and emerging critical technologies.

Singapore is India's sixth-largest trading partner, with bilateral trade worth $35.3 billion. PM Modi also held meetings with key business leaders from major firms such as Blackstone Singapore, Temasek Holdings, and Singapore Airlines.

(business standard)