Singapore and Tamil Nadu will jointly set up a sustainable Industrial park to promote de carbonization in manufacturing industry.
Singapore’s Ministry of Trade and Industry signed an MoU with the State Industries Promotion Corporation of Tamil Nadu (SIPCOT) to cooperate on a “Sustainable Industrial Park” which will serve to develop and test innovative solutions for de-carbonization in manufacturing and trade.
The proposed park will bring together Singapore agencies like the Centre for Liveable Cities and JTC Corporation as knowledge partners for SIPCOT, the developer of industrial spaces in Tamil Nadu,” Iswaran, Singapore’s Transport Minister, said.
The aim is to establish Pilot projects that incorporate sustainability into master planning, financing, logistics, renewable energy, and water and waste management in the park, he said, adding that the expertise Singapore companies have developed in these areas can be leveraged for mutual benefit through cooperation with Tamil Nadu companies.
Iswaran added that the digital economy is the other driving force for growth, which includes “Industry 4.0”, or smart manufacturing, solutions to help companies improve their manufacturing capabilities and productivity.
“Singapore and Tamil Nadu governments are working together to support MSMEs in their journey towards Industry 4.0. Digitalisation, automation, data analytics, and e-commerce can help MSMEs reduce costs, scale up and reach new markets," the Singapore minister said.
Singapore and Tamil Nadu also signed two MoUs on skill development to strengthen people-to-people connections. The first being between the Institute of Technical Education Education Services (ITEES) and the Tamil Nadu Skills Development Corporation, while the second was signed between the Singapore University of Technology and Design (SUTD) and Guidance Tamil Nadu.
Iswaran said that Tamil Nadu serves as an ideal entry point for Singapore companies into the state and India, given its favourable business climate, talented workforce, and supportive government agencies. “I would like to urge all our businesses to actively network with the visiting delegation and seriously explore the economic opportunities in Tamil Nadu and India,” he said after the conclave.