September 5, 2024
Four Memoranda of Understanding (MoUs) were signed, covering semiconductors, digital technologies, skill development, and healthcare cooperation
India and Singapore elevated their bilateral relationship to a Comprehensive Strategic Partnership, focusing on six pillars of future cooperation
Prime Minister Modi met with the CEOs of leading Singaporean companies and encouraged them to explore the growing opportunities in India
The two sides discussed enhancing people-to-people connections, including increased flights and a new Thiruvalluvar Cultural Centre in Singapore
Prime Minister Narendra Modi announced the opening of an Invest India Office in Singapore, which, according to the Ministry of External Affairs (MEA), will guide Singaporean investors in various sectors. This initiative is part of efforts to strengthen bilateral relations and attract more investment from Singapore.
Highlighting the numerous emerging opportunities in India, MEA Secretary East Jaideep Mazumdar noted that it is an ideal time for CEOs of major Singaporean companies to engage directly with PM Modi and gain insights into the Indian market’s offerings. He also outlined the key meetings and interactions conducted during the Prime Minister’s two-day visit to Singapore.
During a special briefing, Mazumdar detailed that four Memoranda of Understanding (MoUs) were signed between the two countries. These MoUs focus on collaboration in the semiconductor ecosystem, digital technologies, skill development, education, and healthcare. These MoUs address four of the six pillars identified by the recent India-Singapore Ministerial Roundtable as central to future cooperation.
Mazumdar also mentioned that India and Singapore’s bilateral relations have been upgraded to a Comprehensive Strategic Partnership, reflecting a commitment to future-ready collaboration. He emphasised that establishing the Invest India Office in Singapore will act as a support centre for investors interested in the sectors outlined in the six pillars of cooperation.
Further enhancing economic ties, Prime Minister Modi is set to meet with CEOs of major Singaporean firms with significant investments in India who are considering expanding their presence. Mazumdar pointed out that this visit is an opportune time for these business leaders to understand India’s political stability, policy predictability, and reform-oriented economic agenda.
Prime Minister Modi also visited AEM Holdings, a leading Singaporean company in the semiconductor and electronics sector. He was briefed on AEM’s role in the global semiconductor value chain, its operations, and plans for India. He also interacted with senior company leaders and professionals involved in skill development in the sector. At the facility, prime ministers met with interns from India and Singapore who had undergone bilateral skill training programmes. Modi invited semiconductor industry leaders to the Semicon India exhibition and conference, scheduled for 11th-13th September.
On people-to-people exchanges, the two sides discussed increasing flight connections between the countries, and PM Modi announced the establishment of the first-ever Thiruvalluvar Cultural Centre in Singapore.
Prime Minister Modi also met Singaporean President Tharman Shanmugaratnam to explore ways to enhance India-Singapore cooperation. He attended a luncheon hosted by Singapore’s senior minister, Lee Hsien Loong. Later, Modi and Singapore PM Lawrence Wong held a bilateral meeting at the Parliament House to review the progress of their countries’ bilateral relations.
The two sides exchanged four MoUs in digital technology, semiconductors, skill development, and healthcare during the talks. Following these discussions, PM Modi invited PM Lawrence Wong to visit India, which he accepted.
Source: Business Standard