(Reuters) -The leaders of India and Singapore on Thursday signed an agreement to partner and cooperate in semiconductors, in a deal aimed at giving Singaporean firms a greater role in supply chains in the Indian market, the two countries said.
"Singapore and India will leverage complementary strengths in their semiconductor ecosystems and tap on opportunities to build resilience in their semiconductor supply chains," Singapore's trade ministry said in a statement.
Tiny Singapore has long punched above its weight in the sector, accounting for 11% of the global semiconductor market, with 20% of global semiconductor equipment manufactured in the country.
India expects its semiconductor market to be worth $63 billion by 2026.
Modi met Singapore Prime Minister Lawrence Wong, President Tharman Shanmugaratnam and former premier Lee Hsien Loong during the visit.

Leaders of India and Singapore sign deal to cooperate on semiconductors