Singapore, Sep 5 (IANS): Prime Minister Narendra Modi, accompanied by his counterpart Lawrence Wong, on Thursday visited AEM Holdings, a leading company in semiconductor and electronics sector, here and discussed opportunities for collaboration.

PM Modi also invited the Singaporean semiconductor companies to participate in the 'SEMICON INDIA' exhibition, to be held in Greater Noida from September 11-13.

According to an MEA statement, the Prime Minister also interacted with Indian interns from Odisha's 'World Skill Center', undergoing training in Singapore, as well as Singaporean interns who had visited India under the 'CII-Enterprise Singapore India Ready Talent Programme' and Indian engineers working at the AEM facility.

Both the leaders were briefed about AEM's role in the global semiconductor value chain, its operations and plans for India.

Singapore Semiconductor Industry Association gave a briefing on 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.

"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," according to the MEA.

During the second meeting of the India-Singapore Ministerial Roundtable, both sides agreed to add advanced manufacturing, with a focus on semiconductors, as a pillar for enhancing bilateral cooperation.

According to the MEA, both sides have also concluded the MoU on India-Singapore semiconductor ecosystem partnership.

"This visit by both the Prime Ministers underscores the commitment of both sides to develop cooperation in this area. Prime Minister Modi conveyed his appreciation to Prime Minister Wong for joining him in this visit," the MEA statement read.

Earlier this week, the Union Cabinet, chaired by PM Modi, approved the proposal of Kaynes Semicon Pvt Ltd to set up a semiconductor unit in Sanand, Gujarat, with an investment of Rs 3,300 crore. The proposed unit, under the India Semiconductor Mission (ISM), will produce nearly 60 lakh chips per day.

In March, PM Modi laid the foundation stone of three semiconductor projects worth Rs 1.25 lakh crore. As per reports, India's semiconductor-related market will reach $64 billion in 2026, nearly triple the size in 2019.