Singapore, India sign agreements to boost collaboration in technology, research

The memorandum of understanding and agreement were inked on the first day of the India-Singapore Technology Summit 2022. PHOTO: MINISTRY OF TRADE AND INDUSTRY

SINGAPORE - Singapore, a regional trade hub, and tech powerhouse India will be deepening their cooperation in science, technology and innovation.

A memorandum of understanding inked between Singapore's Ministry of Trade and Industry (MTI) and India's Department of Science and Technology (DST) on Wednesday (Feb 23) will allow organisations in both countries more opportunities to collaborate in these areas.

Under the MOU, both countries will explore collaborative projects which could impact various sectors such as advanced engineering and manufacturing, energy, as well as other emerging technologies.

On Wednesday, DST and Enterprise Singapore also signed an agreement to facilitate opportunities for firms in both countries to partner in developing new innovative technologies and solutions.

Under the agreement, both organisations will launch requests for joint proposals on innovative projects by Singapore and Indian businesses, with funding provided for approved ones.

The MOU and agreement were inked on the first day of the India-Singapore Technology Summit 2022, which was jointly organised by the government of India, MTI, DST and the Confederation of Indian Industry.

The virtual two-day event features speakers from Singapore and India, and will cover topics such as space technology, smart cities and the use of clean tech for sustainable transportation.

At his speech during the event, Minister-in-charge of Trade Relations S. Iswaran noted that the bilateral trade in goods between both countries has increased by 35 per cent from $19.8 billion in 2020 to $26.8 billion last year.

"It is a sign that our economies are recovering from the Covid-19 crisis," he added.

Mr Iswaran also said international collaborations in technology and research are vital to building commercially viable solutions that can save lives and livelihoods, as the world faces the climate crisis, further disruptions to global supply chains and the spectre of future public health crises.

He suggested three areas in which both countries could collaborate.

The first is deep tech, which includes technologies such as artificial intelligence and the Internet of Things and involves the construction and built environment sector.

"This will lay the foundation for us to build smarter and more sustainable cities," said Mr Iswaran, who is also Transport Minister.

The two other areas are clean tech, involving renewable energy, as well as genome and bioinformatics research.

"The MOU and agreement that have just been signed will allow us to explore the three areas, and many others, for collaboration," said Mr Iswaran.

"They will encourage, develop, and facilitate collaborative projects in fields of mutual interest."

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