Singapore: India and Singapore have formalized four significant Memoranda of Understanding (MoUs) aimed at bolstering cooperation in digital technologies, semiconductors, healthcare, and skill development. The agreements were signed following high-level discussions between Indian Prime Minister Narendra Modi and Singaporean Prime Minister Lawrence Wong.
The MoUs mark a notable expansion in bilateral collaboration and align with India’s Act East Policy. Both nations also committed to elevating their relationship to a Comprehensive Strategic Partnership. This enhanced partnership is expected to significantly boost economic and strategic ties between the two countries.
During their meeting in Singapore, the leaders reviewed the advancement of their bilateral relations, emphasizing the strong economic ties. Prime Minister Modi highlighted Singapore’s substantial investment of approximately $160 billion in the Indian economy, acknowledging the country as a key economic partner. He noted that India’s rapid growth presents numerous opportunities for Singaporean investors.
The discussions also covered existing cooperation in various domains, including defense, maritime security, education, artificial intelligence, financial technology, and new technology fields. Both leaders underscored the importance of improving connectivity and accelerating green corridor projects. They also discussed the recent outcomes of the 2nd India-Singapore Ministerial Roundtable held in Singapore and the upcoming celebration of 60 years of diplomatic relations in 2025.
Prime Minister Modi praised Singapore as both a partner and an inspiration for developing nations, calling the Ministerial Roundtable a groundbreaking initiative. He highlighted the significant contribution of the Indian diaspora in Singapore, announcing the establishment of India’s first Thiruvalluvar Cultural Centre in Singapore.
The leaders visited AEM Holdings Ltd., a leading player in the semiconductor sector, where they were briefed on the company’s role in the global semiconductor value chain and its future plans for India. Modi extended an invitation to Singaporean semiconductor companies to participate in the SEMICON INDIA exhibition in Greater Noida later this month.
At AEM Holdings, the Prime Ministers interacted with Indian interns from Odisha’s World Skill Centre, Singaporean interns who had visited India, and Indian engineers working at the company. Modi also met with Singapore’s President Tharman Shanmugaratnam, expressing gratitude for his support and discussing ways to further deepen bilateral cooperation.
Following the Singapore visit, Prime Minister Modi is scheduled to meet with CEOs of Singaporean companies. His visit to Singapore follows a successful trip to Brunei.
