India-Singapore Partnership: Strengthening Ties Across Various Sectors
Key Ideas
  • India and Singapore plan to finalize ambitious agreements in green economy, digitalization, energy, and more by September-October to enhance their long-standing strategic ties.
  • The two countries aim to deepen cooperation in key areas like digital connectivity, green hydrogen, skill development, and food security through the India-Singapore Ministerial Roundtable.
  • Singapore, a crucial strategic partner for India in Southeast Asia, is viewed as an important engine of growth with significant investments and trade partnerships between the nations.
  • Both nations are also exploring collaborations in defense, especially in the maritime domain, amidst growing concerns over China's assertive claims in the South China Sea.
India and Singapore are set to bolster their collaborative efforts in various sectors as part of strengthening their strategic ties. The two countries are working towards finalizing a series of ambitious agreements focusing on areas such as green economy, digitalization, energy, food security, healthcare, and skill development by September-October. The India-Singapore Ministerial Roundtable has identified priority areas for cooperation, including digital connectivity, green hydrogen, skill development, and food productivity. Singapore has been a significant trading partner of India, contributing to about 23% of India's FDI equity inflows since 2000. The upcoming 60th anniversary of diplomatic ties between India and Singapore presents an opportunity to explore new measures for further collaboration. Singapore is considered a crucial partner for India in the ASEAN region, particularly in countering China's expanding influence in the Indo-Pacific. The two nations are keen on enhancing defense cooperation, especially in the maritime domain, amidst global concerns over territorial disputes in the South China Sea. The economic ties between India and Singapore have been on the rise, with key developments like the launch of the PayNow-UPI linkage for cross-border retail payments. Singapore is a vital trade partner for India in ASEAN, with significant investments, commercial borrowings, and foreign portfolio investments. The partnership includes collaborations in infrastructure investments, with Singapore's Temasek Holding having invested in India's National Infrastructure Investment Fund.
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