India and Singapore are poised to finalize around 10 memorandums of understanding (MoUs) focusing on advanced technology, connectivity, skilling, and digitization during the third India-Singapore Ministerial Roundtable (ISMR) on August 13 in New Delhi, sources familiar with the matter revealed. The agreements aim to deepen ties ahead of Singapore Prime Minister Lawrence Wong’s anticipated visit to India next month.
A flagship proposal under discussion is an ambitious undersea cable to transmit solar energy from India to Singapore, doubling as a data connectivity link. Despite challenges posed by the Andaman Trench, as highlighted in a feasibility study, both nations are committed to exploring this innovative project. Additionally, talks include exporting green ammonia and green hydrogen from India to Singapore, aligning with efforts to strengthen sustainable energy cooperation.
The ISMR, involving India’s External Affairs Minister S Jaishankar, Commerce Minister Piyush Goyal, Finance Minister Nirmala Sitharaman, and Electronics and Information Technology Minister Ashwini Vaishnaw, alongside six Singaporean ministers, will lay the groundwork for Wong’s visit. The meeting builds on the comprehensive strategic partnership established during Prime Minister Narendra Modi’s Singapore visit in September 2024.
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Key initiatives include a financial data regulatory “sandbox” at Gujarat’s Gift City to boost fintech collaboration and skill development programs targeting 100,000 Indians annually in fields like aviation, semiconductors, and advanced manufacturing. The ministers will also address navigating global trade challenges, including the impact of US tariff policies, and explore ways to increase Singaporean investments in India, which have averaged $10-15 billion annually over the past decade.
Singapore, India’s top ASEAN trading partner and a major source of foreign direct investment, recorded $21.2 billion in imports and $14.4 billion in exports with India in 2024-25. The ISMR aims to further elevate bilateral trade and investment, reinforcing Singapore’s role as a key economic partner. Local experts hailed the talks as a step toward future-ready collaboration, though some noted the need for robust infrastructure to support the undersea cable project.
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