NEW DELHI: Singapore's Foreign Minister Vivian Balakrishnan has announced that Prime Minister Narendra Modi will soon visit Singapore. This follows a productive high-level meeting between senior ministers from both countries aimed at strengthening their strategic partnership.

The meeting featured a four-member Indian delegation, including Finance Minister Nirmala Sitharaman, External Affairs Minister S. Jaishankar, Commerce Minister Piyush Goyal, and Railway Minister Ashwini Vaishnaw. The second India-Singapore Ministerial Roundtable (ISMR) was held to discuss bilateral cooperation and shared interests.

Balakrishnan described the meeting as "productive" and hinted that Prime Minister Modi's visit is on the horizon. Although a specific date has not been set, he assured that the visit would be announced soon.

New areas of collaboration were highlighted during the discussions, including advanced manufacturing, semiconductors, aviation, and maritime connectivity. These sectors are expected to offer significant opportunities for both countries and their industries.

The ISMR, which had its inaugural session in September 2022, is a platform for exploring and enhancing cooperation in various fields such as digital technology, skill development, sustainability, and healthcare. The latest roundtable continued this tradition, focusing on the expansion of bilateral ties.

Both countries are enthusiastic about collaboration in advanced manufacturing and semiconductors. India aims to grow its semiconductor industry, while Singapore is recognized for its expertise in this area. Additionally, India’s burgeoning aviation sector presents opportunities for Singaporean companies, particularly in maintenance and operations.

Balakrishnan noted that Singapore's advanced capabilities in these sectors align well with India's expanding needs. India has recently placed significant aircraft orders, reflecting the sector's growth potential and offering Singapore a chance to engage in this evolving market.

The ISMR meeting also reaffirmed the strong economic and personal connections between Singapore and India. Both sides expressed satisfaction with the progress made since the 2022 meeting, which focused on digitisation, green economy initiatives, and healthcare cooperation.

Key achievements include the successful linkage of Singapore's PayNow and India's Unified Payments Interface (UPI) in February 2023, enabling real-time financial transactions between the two countries. Both nations are also investing in renewable energy projects, such as green ammonia.

Looking ahead, there are discussions about expanding digital payments into a regional instant payments network to facilitate trade and economic development. Cybersecurity and standardisation were also key topics at the roundtable, aiming to enhance regional interoperability.

Deputy Prime Minister Gan Kim Yong highlighted the complementary strengths of Singapore and India, noting that Indian companies represent a significant foreign corporate presence in Singapore. He expressed confidence that ongoing and future discussions will foster even closer collaboration between the two nations.

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