Prime Minister Narendra Modi will be making an official visit to Singapore on September 4, marking his first trip to the city-state in six years. Jaideep Mazumdar, Secretary East at the Ministry of External Affairs, confirmed the visit on Monday, emphasizing its importance for enhancing trade relations between India and Singapore.
During this visit, PM Modi is expected to sign multiple memorandums of understanding (MoUs) covering a range of sectors including digitization, skills development, sustainability, health, advanced manufacturing, and connectivity. These areas were identified during the recent India-Singapore Ministerial Roundtable held on August 26, 2024.
Mazumdar highlighted the significance of this visit, noting that Singapore is India’s largest trading partner within the ASEAN region and a major source of Foreign Direct Investment (FDI) for India. In the past financial year, Singapore has been the leading contributor to India's FDI, and it ranks as India’s sixth-largest global trade partner.
The Prime Minister’s visit is poised to strengthen the already growing trade relations between the two nations. It comes at a time when defense cooperation and cultural and educational exchanges have further deepened the ties between India and Singapore.
In addition to official meetings, PM Modi will engage with CEOs and business leaders during his visit. Mazumdar mentioned that the accumulated FDI from Singapore since 2000 stands at USD 160 billion, underscoring the substantial investment flows between the two countries. The interaction with business leaders will provide PM Modi an opportunity to directly present India’s growth prospects.
The visit also coincides with the recent inauguration of Singapore’s new Prime Minister, Lawrence Wong, making it a strategically timed opportunity to advance the India-Singapore partnership. Mazumdar emphasized that the visit aims to enhance bilateral relations and pave the way for future collaboration, reflecting the dynamic and strategic nature of the India-Singapore relationship.
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