Highlighting India’s growth capacity in semiconductors and aviation, the second Ministerial meeting in Singapore focused on bolstering investment and trade in various sectors between the two countries.
On Monday, India and Singapore conducted the second India-Singapore Ministerial Roundtable in Singapore, featuring ten ministers from both nations. The discussions centred on strengthening collaborations in investments and trade as Prime Minister Narendra Modi’s visit on September 5 comes closer.
The meeting concentrated on various sectors, including advanced manufacturing and semiconductors, an area where India seeks substantial growth, and Singapore excels beyond its size, according to Singapore’s Foreign Minister Vivian Balakrishnan.
He noted that India has significant potential in the semiconductor and aviation sectors. According to his statement, electronics manufacturing, semiconductors, and aviation and maritime connectivity improvements are new focus areas that Singapore and India have introduced to their high-level discussions on strengthening bilateral cooperation.
Furthermore, Balakrishnan commented that having ordered over 1,000 planes in the past year, India’s aviation growth presents opportunities for services like maintenance and air operations, areas where Singaporean companies are highly competitive.
Besides, the two nations are also enhancing cooperation in digitalisation, skill development, sustainability, healthcare, and connectivity.
Among the Indian participants were Nirmala Sitharaman, Minister of Finance & Corporate Affairs; Dr S. Jaishankar, Minister of External Affairs; Piyush Goyal, Minister of Commerce and Industry; and Ashwini Vaishnaw, Minister of Railways, Information and Broadcasting, and Electronics and Information Technology.
From the Singapore side, apart from Balakrishnan, Gan Kim Yong, Deputy Prime Minister and Minister for Trade and Industry; K Shanmugam, Minister for Home Affairs and Minister for Law; Josephine Teo, Minister for Digital Development and Information and Second Minister for Home Affairs; Dr Tan See Leng, Minister for Manpower and Second Minister for Trade and Industry, and Chee Hong Tat, Minister for Transport and Second Minister for Finance participated in the meeting.
They agreed to hold the next ISMR round in India and reaffirmed their commitment to enhancing bilateral cooperation. The Indian Ministers also met with Singapore’s President and Prime Minister during the visit.
