PM Modi to visit Singapore soon; semiconductors and advanced manufacturing added to bilateral agenda

New areas of cooperation set the stage for strengthened ties between India and Singapore

New Delhi August 27 2024 : Prime Minister Narendra Modi is set to visit Singapore in the near future, following a series of high-level discussions between senior ministers from both nations. Singapore’s Foreign Minister Vivian Balakrishnan confirmed that the meeting laid the groundwork for Modi’s upcoming visit, emphasizing the addition of new areas of cooperation to the bilateral agenda, including advanced manufacturing, semiconductors, aviation, and maritime connectivity. The recent round of discussions, which took place during the second multi-ministerial roundtable, was described as “productive” by Balakrishnan. This gathering marked the second edition of the India-Singapore Ministerial Roundtable (ISMR), an initiative launched in September 2022 by then Deputy Prime Minister Lawrence Wong during his visit to India.

Balakrishnan highlighted that both nations are exploring significant opportunities in advanced manufacturing and the semiconductor sector. These industries are areas where India is aiming for substantial growth, while Singapore has established itself as a global leader. The focus on these sectors reflects the growing strategic importance of technology and innovation in the partnership between the two countries. The Singaporean foreign minister also noted the potential for collaboration in aviation, citing India’s massive expansion in the sector, with over 1,000 aircraft ordered in the past year alone. This expansion offers substantial opportunities for Singapore in areas such as aircraft maintenance and air operations, where the city-state excels.

The Singaporean delegation at the ISMR comprised Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong, Minister for Home Affairs and Law K. Shanmugam, Minister for Communications and Information Josephine Teo, Minister for Manpower Tan See Leng, and Minister for Transport Chee Hong Tat. On the Indian side, Finance Minister Nirmala Sitharaman, External Affairs Minister S. Jaishankar, Commerce and Industry Minister Piyush Goyal, and Electronics and Information Technology Minister Ashwini Vaishnaw participated. Both sides reaffirmed their strong economic and people-to-people ties, with the ministers expressing confidence in the potential for greater collaboration. Singapore’s Deputy Prime Minister Gan emphasized the complementary strengths of the two nations, noting that Indian companies represent one of the largest foreign corporate contingents in Singapore.

The discussions are expected to pave the way for deeper strategic cooperation, building on previous initiatives such as the linkage of Singapore’s PayNow and India’s Unified Payments Interface (UPI) in February 2023, and investments in renewable energy projects.

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