During his Singapore visit, the Prime Minister of India Shri Narendra Modi and Prime Minister of Singapore H.E. Mr. Lawrence Wong visited a leading Singaporean company ‘AEM’ engaged in the semiconductor and electronics sector. There, both were briefed about AEM’s role in the global semiconductor value chain, its operations and plans for India.
Singapore Semiconductor Industry Association forwarded the development of the semiconductor ecosystem in Singapore and opportunities for collaboration with India. Representatives of several other Singaporean companies from this sector were also present. During this meeting, Prime Minister Modi invited the Singaporean semiconductor companies to participate in the SEMICON INDIA exhibition to be held in Greater Noida on 11-13 September 2024. This move highlights India’s push to develop its semiconductor manufacturing ecosystem and leverage Singapore’s expertise in this sector.
PM Modi shared, “Given our efforts to develop the semiconductor manufacturing ecosystem in India and Singapore’s strengths in this sector, both sides have decided to expand bilateral cooperation. During the 2nd meeting of the India-Singapore Ministerial Roundtable, both sides agreed to add Advance Manufacturing, with a focus on semiconductors, as a pillar for enhancing bilateral cooperation. Both sides have also concluded the MoU on India-Singapore Semiconductor Ecosystem Partnership.”
At the facility, the two Prime Ministers also interacted with Indian interns from Odisha’s World Skill Center undergoing training in Singapore and Singaporean interns who had visited India under the CII-Enterprise Singapore India Ready Talent Program and Indian engineers working at AEM. This visit by both the Prime Ministers underscores the commitment of both sides to develop cooperation in this area.
It is presumed that the Indian market for semiconductors will reach over $55 billion by 2026, with demand largely driven by three sectors—smartphones and wearables; automotive components; and computing and data storage. With an anticipated market size of more than $100 billion and an additional 600,000 jobs by 2030, the Indian semiconductor ecosystem is poised to become an important contributor to growing the global industry to $1 trillion by 2030.
It is learnt that the ‘Semiconductor’ industry powerhouses have announced investments in the Indian semiconductor ecosystem and other multinational giants are exploring semiconductor manufacturing opportunities. While India currently imports almost all its semiconductors, it has shown determination and progress to add semiconductor manufacturing and expand its ecosystem via the Indian Semiconductor Mission.
A prime example of the manufacturing momentum – Micron recently began construction on its $2.75 billion assembly and test facility in Gujarat. This adds to India’s existing strength as a semiconductor engineering hub, which accounts for around 20% of the world’s semiconductor design workforce.
It is also to prove as a global business platform for networking with key decision-makers from India and around the world, including industry leaders who are to forge new partnerships and business opportunities. It is committed to providing with an insightful and enriching experience that will help business growth now and in the future with the emergence of this new semiconductor ecosystem.
Semiconductors are used in almost all electronic devices. Their reliability, compactness, low cost and controlled conduction of electricity makes them ideal to be used in a wide range of components and devices for various purposes. Transistors, photosensors, microcontrollers, diodes, integrated chips and much more are made up of semiconductors. These are used in almost all electronic devices. In everyday life, these are temperature sensors; used in 3D printing machines, microchips and self-driving cars, calculators, solar plates, computers, electronic devices and many more.
As per other advantages, these are highly portable due to their small size; require less input power; semiconductor devices remain shockproof; have a longer lifespan; and are noise-free while operating.
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