Prime Minister Narendra Modi lands in Singapore on Wednesday for a trip that is aimed at taking India-Singapore relations to the next orbit, with Singapore already making moves to further up its investments in India.
PM Modi will participate in a round table with Singaporean business leaders and interact with Singapore’s semiconductor ecosystem players during the trip. This comes after Singapore High Commission officials earlier this week made site visits to four locations in Maharashtra, Rajasthan and Uttar Pradesh where the Modi government has recently announced the setting up of new industrial parks.
On Wednesday, Singapore’s Capital Land announced it will double its finds under management in India to more than Rs 90,280 crore by 2028. The Singapore High Commission said it was “good to see companies doubling down on Investments in India”.
Landed in Singapore. Looking forward to the various meetings aimed at boosting the India-Singapore friendship. India’s reforms and the talent of our Yuva Shakti makes our nation an ideal investment destination. We also look forward to closer cultural ties. pic.twitter.com/SG2IttCKEg— Narendra Modi (@narendramodi) September 4, 2024
According to DPIIT, Singapore remains the number one foreign investor in India. Singapore has topped the investment chart nine years in a row.
Taking India-Singapore relations to the next orbit
It was under PM Modi that India and Singapore elevated their relationship to a Strategic Partnership in 2015. This visit elevates the bilateral relationship to a Comprehensive Strategic Partnership, taking the bilateral relations to a new orbit, government sources said. India is also looking to build synergies in semiconductor sector and skilling with these ecosystems in Singapore.
Both prime ministers will visit AEM holdings; get briefed on the Semiconductor ecosystem in Singapore and exchange views on the upcoming Semiconductor ecosystem in India, sources said. MoUs will be signed and cooperation will happen in manpower skilling in Semiconductor sector.
Singapore and India will also increase cooperation in skilling. From skilling centres to training and recruitment by Singapore firms, this will help India’s youth with better skills and opportunities.
What’s on PM’s Table
The PM will be connecting with all three generations of leadership in Singapore. Prime Minister Lawrence Wong will host PM Modi for a meal. The prime minister will meet Singapore President Tharman Shanmugaratnam. Former PM and Senior Minister Lee Hsien Loong will also host PM Modi for a meal. Modi will also meet former PM and Emeritus Senior Minister Goh Chok Tong. The visit comes soon after PM Lawrence Wong took over and PM Modi has entered his third term.
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