New Delhi, June 29: The Union Cabinet chaired by Prime Minister Narendra Modi was apprised of a Memorandum of Understanding (MoU) signed between the Department of Science and Technology of the Republic of India and the Ministry of Trade and Industry of the Government of the Republic of Singapore on Cooperation in the fields of Science, Technology and Innovation. The MoU was signed in February 2022.
The MoU will provide a mechanism and help in creating an ecosystem that will promote innovation and entrepreneurship in both countries leading to new technology creation, manpower training, IP generation through collaboration.
The new knowledge and technology development through activities implemented under this cooperation will provide impetus to Atmanirbhar Bharat. The MoU will provide a mechanism and help in creating an ecosystem that will promote innovation and entrepreneurship in both countries leading to new technology creation, manpower training, IP generation through collaboration.
The activities envisaged in the MoU will involve product development and technology exchange which may lead to generation of new enterprises and employment.
The objective of this Memorandum is to encourage, develop and facilitate cooperation between India and Singapore in fields of common interest in science, technology and innovation.
Priority will be given to collaboration within any area of mutual interest that can advance progress in research, innovation and technological development including Agriculture and food science and technology; Advanced manufacturing and engineering; Green economy, energy, water, climate and natural resources; Data science, Emerging Technologies; Advanced Materials; and Health and biotechnology.
Other areas of common interest will be included through mutual consent.