India and Singapore are deepening their strategic partnership, focusing on advanced technology, trade, connectivity, and digitization, as top ministers from both nations met for the third India-Singapore Ministerial Roundtable (ISMR) in New Delhi. The discussions underscored the commitment to unlock new opportunities in their comprehensive strategic partnership, elevated during Prime Minister Narendra Modi’s visit to Singapore in September 2024.
The Indian delegation, including External Affairs Minister S Jaishankar, Commerce Minister Piyush Goyal, Finance Minister Nirmala Sitharaman, and Electronics and Information Technology Minister Ashwini Vaishnaw, engaged with a high-level Singaporean team led by Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong. The Singaporean contingent included National Security and Home Affairs Minister K Shanmugam, Foreign Minister Vivian Balakrishnan, Digital Development and Information Minister Josephine Teo, Manpower Minister Tan See Leng, and Acting Transport Minister Jeffrey Siow.
Jaishankar highlighted the synergy between government and industry as crucial for advancing India-Singapore ties, noting productive interactions with the India-Singapore Business Roundtable (ISBR) delegation. The ISMR, launched in New Delhi in September 2022 and followed by a second meeting in Singapore in August 2024, serves as a key platform to strengthen bilateral cooperation.
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Singapore remains India’s largest trading partner in ASEAN and a leading source of foreign direct investment (FDI), with annual investments ranging between USD 10 billion and USD 15 billion over the past decade. In the financial year 2024-25, Singapore was India’s sixth-largest trading partner, with imports valued at USD 21.2 billion and exports at USD 14.4 billion. The nation is also a major contributor to India’s external commercial borrowings and foreign portfolio investments.
As both countries explore new avenues for collaboration, the ISMR discussions signal a robust future for India-Singapore relations, with potential to drive innovation, economic growth, and regional connectivity in an increasingly interconnected world.
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