India and Singapore are likely to sign a major agreement on semiconductors during Prime Minister Narendra Modi’s upcoming visit to the Southeast Asian island nation.
The pact on semiconductors comes even as India has been strengthening its collaboration in the semiconductor sector with global partners, including the US, Taiwan, the EU, and others, reported WION news channel.
Modi will visit Singapore on Sept 4-5 at the invitation of Prime Minister Lawrence Wong.
The leaders will review the progress of India–Singapore Strategic Partnership and exchange views on regional and global issues of mutual interest.
“During the visit, the Prime Minister will call on the President of Singapore, H.E. Mr. Tharman Shanmugaratnam, and interact with Singaporean leadership,” the Ministry of External Affairs said in a statement.
The Prime Minister will also meet with business leaders from Singapore.
With the objective to develop a vibrant semiconductor ecosystem, the Union Cabinet chaired by Prime Minister Narendra Modi approved the proposal of Kaynes Semicon Pvt Ltd to set up a semiconductor unit in Sanand, Gujarat.
The proposed unit will be set up with an investment of Rs 3,300 crore. The capacity of this unit will be 60 lakh (six million) chips per day.
The chips produced in this unit will cater to a wide variety of applications which include segments such as industrial, automotive, electric vehicles, consumer electronics, telecom, mobile phones, etc.
