India and Singapore have entered into four Memorandums of Understanding (MoU) in digital technologies, semiconductors, health cooperation, and skill development, further strengthening their collaboration.

Prime Minister Narendra Modi received a ceremonial welcome at the Parliament House on Thursday, September 4, during his visit to Singapore. He held bilateral meetings with his Singaporean counterpart, Lawrence Wong, after which the two delegations signed the MoUs.

The first MoU was signed between India’s Ministry of Electronics and Information Technology and Singapore’s Ministry of Digital Development and Information to collaborate on digital technologies.

The aim is to enhance cooperation between the two countries in digital technologies such as DPI, cyber-security, 5G, Supercomputing, Quantum Computing, and Artificial Intelligence.

This MoU will also facilitate cooperation for upskilling and reskilling workers in the digital domain. Another MoU was signed on the India-Singapore Semiconductor Ecosystem Partnership between the Indian Ministry of Electronics and Information Technology and the Singapore Ministry of Trade and Industry.

Under this agreement, India and Singapore will work together to build a semiconductor cluster and nurture talent in semiconductor design and manufacturing. Singaporean companies, which are part of global semiconductor value chains, are interested in investing in India, and this MoU will facilitate their investments.

The third MoU on cooperation in health and medicine was signed between India’s Ministry of Health and Family Welfare and Singapore’s Ministry of Health. This agreement will support joint efforts on research and innovation in areas of mutual interest and promote cooperation in human resource development in the healthcare and pharmaceutical sectors.

Additionally, it will complement New Delhi’s efforts to promote Indian healthcare professionals in Singapore. India’s Ministry of Skill Development and Entrepreneurship and Singapore’s Ministry of Education also signed an MoU on educational cooperation and skills development.

This agreement aims to enhance cooperation in technical and vocational education and training, complementing the existing collaborations between the two countries in skill development. Earlier, Prime Minister Modi also signed the visitors book at Parliament House and met with ministers and delegates from Singapore.

Feeling overwhelmed by the markets? Let Unicorn Signals be your guide. Our user-friendly app simplifies complex data and provides actionable trading signals. Download the app today and trade with confidence!