Singapore, India elevate ties to comprehensive strategic partnership as Indian PM Modi concludes visit
India's Prime Minister Narendra Modi and Singapore's President Tharman Shanmugaratnam on Sep 5, 2024
Singapore and India have agreed to elevate bilateral relations to a higher level of a “Comprehensive Strategic Partnership” to deepen and broaden cooperation between the two countries.
The move came as Indian Prime Minister Narendra Modi wrapped up a two-day official visit to Singapore. He was due to depart the country on Thursday (Sep 5) evening, said the Ministry of Foreign Affairs (MFA) in a statement. In a Facebook post, Singapore Prime Minister Lawrence Wong said he had a “productive meeting” with his Indian counterpart on Thursday, as they set out a “forward-looking agenda” for the next stage of bilateral relations.
“We are also upgrading the Singapore-India Strategic Partnership to a Comprehensive Strategic Partnership,” he said. “This is a timely move as we expand our partnership in new and mutually beneficial areas and celebrate 60 years of diplomatic relations and the 10th anniversary of our Strategic Partnership next year. “We look forward to strengthening our ties and creating new opportunities for our peoples.”
Singapore-India partnership a beacon for like-minded countries, says DPM Heng
Indian Prime Minister Narendra Modi called on President Tharman Shanmugaratnam on Sept 5, 2024
Singapore and India’s longstanding partnership can serve as a beacon to rally like-minded countries to cooperate for growth and development in a more contested world, Deputy Prime Minister Heng Swee Keat said on Sept 5.
The steady ties could also encourage the countries’ partners around the world to harness technology and innovation, and to deepen trust and appreciation for each other’s diversity, he said.
“We are confident that continued bilateral exchanges such as Prime Minister (Narendra) Modi’s visit today will unlock many new opportunities for collaboration that will benefit not only our two countries, but also the wider Asean and Asian region and others globally,” said DPM Heng.
Singapore, India deepen cooperation in semiconductor sector, digital technology
Singapore's Prime Minister Lawrence Wong and India's Prime Minister Narendra Modi at AEM Singapore on Sep 5, 2024
Singapore and India on Thursday (Sep 5) exchanged a Memorandum of Understanding (MOU) to cooperate in the semiconductor industry and digital technologies.
The MOU "aims to support India’s growing semiconductor industry while facilitating Singapore’s ecosystem of semiconductor companies and related supply chains to participate in the fast-growing Indian market", said the Ministry of Trade and Industry in a press release on Thursday. The ceremony was witnessed by the two prime ministers, Mr Lawrence Wong and Mr Narendra Modi, on the final day of the Mr Modi's latest visit to Singapore. It's his fifth since taking office 10 years ago.
The MOU was earlier signed by Singapore Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong, and India Minister of Electronics and Information Technology Ashwini Vaishnaw during the India-Singapore Ministerial Roundtable on Aug 26.
India’s Modi expected to usher in new era of bilateral agreements in Singapore visit
Indian Prime Minister Narendra Modi during the launch of BJP membership campaign on Sept. 2, 2024 in New Delhi, India
Indian Prime Minister Narendra Modi is set to meet his Singapore counterpart Lawrence Wong this week marking his first trip to the city-state since he won a historic third term in office in June.
Modi will also be meeting Singapore President Tharman Shanmugaratnam, Senior Minister and former Prime Minister Lee Hsien Loong, and Emeritus Senior Minister Goh Chok Tong during his two-day visit. “Singapore has consistently been a friend of India in the region, and has advocated for partnering with India,” Anit Mukherjee, a senior lecturer at King’s College London, told CNBC. “India would want to emulate this exemplary bilateral partnership with other countries in the region.”
The country is India’s sixth largest trading partner, with 3.2% share of India’s overall trade. Imports from Singapore in financial year 2024 amounted to $21.2 billion, while exports totaled $14.4 billion.
The Strait of Opportunity: India-Singapore ties, a classic win-win case
Prime Minister Narendra Modi during a meeting with PM of Singapore Lawrence Wong
After Sir Stamford Raffles established a trading station in Singapore in 1819, readers may not know that till as late as 1867, the miracle city state was governed from Kolkata. Prime Minister Narendra Modi’s visit gives a new strategic direction to an incrementally burgeoning relationship.
Singapore’s economic engagement with India is substantial and growing. Over the last two decades, Singaporean entities have invested a staggering $160 billion in India, making it the largest source of FDI for New Delhi. This influx of capital has not only fuelled India’s rapid economic expansion but also facilitated the capacity transformation of key sectors. One of the most notable instances of this was Singapore’s early investment in Bharti Airtel, which helped kickstart India’s cellular revolution.
Singapore’s role as a financial anchor for India is further underscored by CapitaLand’s announcement during the visit to more than double its funds under management in India to over $14.8 billion. Singapore has become India’s sixth-largest trading partner. In 2024, Indian imports from Singapore were $21.2 billion; exports totalled $14.4 billion. The trade relationship, while skewed in favour of Singapore, reflects the complementary nature of their economies.
India signs chip deal with Singapore during Modi visit
Indian Prime Minister Narendra Modi greets Singaporean Prime Minister Lawrence Wong on Sept. 5 in Singapore
Indian Prime Minister Narendra Modi on Thursday met with his Singaporean counterpart, Lawrence Wong, in an official visit to the city-state, sealing a series of deals to strengthen collaboration in semiconductors and digital technologies with India's largest foreign investor.
In his remarks during his meeting with Wong, Modi said that Singapore is not just a partner but an inspiration for every developing nation. "We also want to create many Singapores in India, and I am happy that we are making efforts together in this direction," he said in Hindi.
The two countries signed four memorandums of understanding aimed at deepening cooperation in areas such as semiconductors, digital technology, skills development and healthcare, according to the Indian government.
Chips to digital tech and health, India and Singapore sign 4 MoUs, elevate bilateral ties as Modi meets Singapore PM
Prime Minister Narendra Modi with his Singapore counterpart Lawrence Wong during a bilateral meeting in Singapore on Thursday. Modi was seen playing the ‘dhol’ after he arrived on Wednesday
India and Singapore on Thursday elevated their bilateral ties to a “comprehensive strategic partnership” and signed four Memorandums of Understanding (MoU), including one on cooperation in the semiconductor industry, as Prime Minister Narendra Modi held talks with his counterpart Lawrence Wong.
As reported by The Indian Express earlier, the MoUs are —Cooperation in the Field of Digital Technologies, India-Singapore Semiconductor Ecosystem Partnership; Cooperation in the Field of Health and Medicine, and on Educational Cooperation and Skills Development. During his opening remarks, Modi said Singapore is not only a partner nation but it is an inspiration for every developing country.
“A new chapter in – ties: Comprehensive Strategic Partnership established. PM @narendramodi and PM @LawrenceWongST held a productive meeting in Singapore today,” Ministry of External Affairs (MEA) spokesperson Randhir Jaiswal said in a post on X after the meeting. “The leaders agreed to elevate the ties to Comprehensive Strategic Partnership. They extensively reviewed various facets of the bilateral relationship covering areas of Advanced Manufacturing, Connectivity, Digitalisation, Healthcare & Medicine, Skills Development and Sustainability,” he said. The MEA in a statement said both leaders reviewed the progress of India-Singapore bilateral relations
Singapore Ready To Invest Five Times More In India: Piyush Goyal
Singapore has already invested about $150 billion in India (about Rs 12 lakh crore) and the island country is ready to invest probably five times that amount in the coming years, Commerce and Industry Minister Piyush Goyal said on Thursday. He also said that India and the four-nation European bloc EFTA have signed a free trade agreement under which New Delhi has received an investment commitment
These investments will come in states and they have to take advantage of this, Goyal said here while addressing state industry ministers and senior officials.
"Today the world wants to invest in India. Everybody wants to come to India. Singapore has already invested about $150 billion (about Rs 12 lakh crore) in India. They are ready to invest probably five times that amount in the coming years," he said. He said states to change mindset, reduce compliance burden and decriminalise laws, and provide real red carpet to attract these investments. "All in
Singapore, India exchange agreements to tighten links in semiconductors, digital tech
Four MoUs were exchanged on Sept 5, witnessed by PM Lawrence Wong and Indian PM Narendra Modi, who is in the Republic on an official visit
India and Singapore exchanged agreements on Wednesday (Sept 5) to help firms in the Republic tap into India’s growing semiconductor industry and tighten digital links between the two countries. They will also be stepping up cooperation in areas such as skills development and healthcare.
Four memoranda of understanding were exchanged at Parliament House, witnessed by Prime Minister Lawrence Wong and Indian Prime Minister Narendra Modi, who is here on an official visit. These were first signed by Singapore ministers and their Indian counterparts on the sidelines of the second edition of the India-Singapore Ministerial Roundtable (ISMR), which was held at Shangri-La Singapore on Aug 26.
Modi, who is in Singapore for two days, earlier received a ceremonial welcome by PM Wong at Parliament House.
India's PM Modi to make official visit to Singapore
Singapore's Minister for Trade and Industry Gan Kim Yong (left) and then-Deputy Prime Minister Lawrence Wong with India's Prime Minister Narendra Modi on Sep 19, 2022
India's Prime Minister Narendra Modi will arrive in Singapore on Wednesday (Sep 4) for an official visit, a trip made at the invitation of Singapore Prime Minister Lawrence Wong, said the Ministry of Foreign Affairs.
Mr Modi last visited Singapore in 2018. He will accompanied this time by India's Minister of External Affairs S Jaishankar, National Security Advisor Ajit Doval and other government officials. This will be his fifth trip to Singapore as India's prime minister.
During his two-day visit, Mr Modi will receive an official welcome at the Parliament House on Thursday and call on President Tharman Shanmugaratnam. He will also meet Mr Wong, Senior Minister Lee Hsien Loong and Emeritus Senior Minister Goh Chok Tong. Mr Wong and Mr Lee will host the prime minister to separate meals.
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