Singapore aiming to build semiconductor ecosystem in India, says President Tharman Shanmugaratnam

Singapore is exploring new initiatives like manufacturing of semiconductors and building a semiconductor ecosystem in India apart from participating in the creation of new generation of technological solutions, the city-State’s President Tharman Shanmugaratnam said

Singapore is exploring new initiatives like manufacturing of semiconductors and building a semiconductor ecosystem in India apart from participating in the creation of new generation of technological solutions, the city-State’s President Tharman Shanmugaratnam said on Thursday. The visiting dignitary recounted his 2022 visit to India as the Senior Minister of Singapore when he toured Assam and announced that this time he is focusing on Odisha.

“We will never forget India was one of the first countries to recognise Singapore’s independence in 1965. It’s a natural partnership between a small country — Singapore — and a very large country — India. In a whole range of areas, our business relationships are thriving,” said President Shanmugaratnam highlighting that Singapore is the “largest investor in India for many years now”.

“We are also exploring other initiatives in the digital space. We are exploring possibility of a data corridor between Gift City and Singapore so that our financial institutions can exchange data on a safe and trusted basis,” said Mr. Shanmugaratnam after the official welcome accorded to him at the forecourt of the Rashtrapati Bhavan. He mentioned that the two sides are working in areas like renewable energy and spoke about India’s “high ambition” for the eastern states like Odisha and Assam.

The Singapore President spoke about the “natural advantages” of the eastern states like availability of natural resources and the desire among the people to develop in areas like “logistics, connectivity, and petrochemicals”. “We are now on a new trajectory with India with the upgrade of our relations to a Comprehensive Strategic Partnership, which was announced during Prime Minister Modi’s last visit to Singapore in September last year. We are working on cooperating with advanced manufacturing and semiconductors — helping to build up a semiconductor ecosystem in India,” he said in his remarks to the media on the sideline of the official ceremony at the Rashtrapati Bhavan.

Later in the day, he and President Droupadi Murmu launched the joint logo here to commemorate the 60th anniversary of the establishment of diplomatic relations between India and Singapore. President Shanmugaratnam’s visit is part of a series of exchanges that will take place during this year as both sides plan to celebrate the 60th anniversary of establishment of bilateral diplomatic relations through visits and events.

Union Minister Nitin Gadkari called on Mr. Shanmugaratnam with both leaders expressing their desire to build on sustainable aviation fuel, green hydrogen, and ammonia.