‘India, Singapore closely collaborating in cutting edge areas’

NEW DELHI: India and Singapore are closely collaborating in cutting edge areas that will shape the future in the context of accelerating technological disruption -- fintech, information technology, cyber security, skill development, smart city solutions and renewable energy and food security, said MoS PMO, Personnel Jitendra Singh on Thursday.

Singapore Minister in PMO Loh Khum Yean, currently on a 2-day visit to India, called on his Indian counterpart Jitendra Singh at North Block in Delhi.

Singh said the maiden India-Singapore Ministerial Roundtable held in Delhi on September 17 was envisioned by Prime Minister Narendra Modi, which he described as a path breaking initiative that is a testament to the unique India-Singapore bilateral ties and can pave the way for coordination in new areas of partnership.

The Minister pointed out that India and Singapore show convergence on a variety of issues of international importance and they are part of numerous groupings like G20, Commonwealth, IORA (Indian Ocean Rim Association), East Asia Summit, and IONS (Indian Ocean Naval Symposium).

He said, following the conclusion of the Comprehensive Economic Cooperation Agreement (CECA) of 2005, this robust relationship was elevated to a Strategic Partnership in 2015 during the visit of Prime Minister Narendra Modi and on the occasion of the 50th anniversary of the establishment of diplomatic relations.

Loh Khum Yean told Jitendra Singh that Singapore has emerged as the top source nation in terms of foreign direct investment (FDI) equity flows into India for the financial year 2021-22. The amount of FDI inflow from Singapore to India in fiscal year 2022 was estimated to be almost $16 billion.