INDIA-Leaders Talk South China Sea & Semiconductors During Modi Visit

The governments of Singapore and India have issued a joint statementas part of Indian PM Narendra Modi's two-day visit following talks with PM Lawrence Wong. The two leaders "reaffirmed the importance of maintaining and promoting peace, security, stability, safety and freedom of navigation in and overflight above the South China Sea." The two "called on all parties to resolve disputes through peaceful means without threat or use of force and exercise self-restraint in the conduct of actions that could escalate tensions in the region."

• These comments come amidincreased tensionsbetween China and the Philippines over disputed territory at the Second Thomas and Sabina shoals that have threatened to destabilise the region.
• Wong and Modi "expressed hope for the early conclusion of a substantive and effective Code of Conduct in the South China Sea (COC)[...] that does not prejudice the legitimate rights and interests of all nations including those not party to these negotiations."
• The visit has also seen the signingof a memorandum of understanding on semiconductors that intends to develop Singapore's role in India's chip supply chains.
• Reuters: Singapore accounts "for 11% of the global semiconductor market, with 20% of global semiconductor equipment manufactured in the country. Semiconductors are a key plank of India's business agenda, with a $10 billion package in place to boost the industry's push to compete in future".