‘Come Be A Part Of It’: PM Modi Invites Singaporean Businesses To Invest In India’s Aviation, Semiconductor Sectors – News18

Prime Minister Narendra Modi welcomed Singaporean business leaders on Thursday to invest in India’s aviation, renewable energy and electric vehicle sectors.

“If there is any fastest-growing aviation sector in the world, it is in India. Having MROs is a priority for us. You (businesses) should come to India to invest in the development of airports,” PM Modi said.

He also said that Indians have confidence in the policies introduced by the government under his leadership. “Those who are familiar with India will know that after 60 years a government has been given the mandate for the third time. The reason behind it is the people’s confidence in the policies of my government,” Modi said.

The Prime Minister also said his government is pro-reform and shared his plans on how he wants to expand the use of electric vehicles in the country. He told businessmen gathered at the conference that he plans to scrap old government vehicles and replace them with newer, efficient vehicles.

He also said that Singaporean businesses can partner with India as the country moves to greener fuels in a bid to reduce emissions and global warming and counter the effects of climate change.

Modi said that India remains committed to becoming a global leader in the green hydrogen and renewable energy sectors and the government is keen to explore how to expand the use of solar, biofuels and nuclear energy.

Semiconductors and Startups

Prime Minister Modi said that India is ‘aggressively growing’ its semiconductor sector and will build an entire ecosystem to cater to its growth. He also said that India is now home to world’s fastest growing startups and that India’s Tier-2 and Tier-3 cities have also become part of the wave.

“We are moving ahead aggressively in the area of semiconductors. We are going to make a whole ecosystem in this sector. Startups are growing very fast in tier 2 and tier 3 cities in India,” Modi told the business leaders.

He, accompanied by his Singapore counterpart Lawrence Wong, on Thursday also visited a leading Singaporean company in the semiconductor and electronics sector and discussed ways for collaboration in this critical industry.

Modi is here on a two-day visit at the invitation of Singapore PM Wong.

Both the leaders visited AEM Holdings Ltd and were briefed about the company’s role in the global semiconductor value chain, its operations and plans for India.