Four Memorandums of Understanding (MoUs) were signed to strengthen bilateral partnership in various fields during the meeting between Indian Prime Minister Narendra Modi and Singapore PM Lawrence Wong. The two leaders met in the city of Singapore on Thursday and agreed to elevate their bilateral relations to the level of “comprehensive strategic partnership”. These MoUs focus on digital technology, semiconductors, health and medical sector, and educational cooperation and skill development.
PM Modi said, “We also want to create many Singapores in India and we are happy that we are working together in this direction. The round table of ministers formed between us is a path breaking mechanism. The initiative has become known for cooperation in areas like digitalization, mobility and advanced manufacturing.”
PM Modi visited the semiconductor plant
Prime Minister Narendra Modi, accompanied by PM Lawrence Wong, visited AEM, a leading Singaporean company in the semiconductor and electronics sector. He was briefed on AEM’s role in the global semiconductor value chain, its operations and plans for India. The Singapore Semiconductor Industry Association briefed on the development of the semiconductor ecosystem in Singapore and opportunities for cooperation with India.
Representatives from several other Singaporean companies in this sector were also present. The Prime Minister invited Singaporean semiconductor companies to participate in the Semicon India exhibition to be held in Greater Noida on 11-13 September 2024.
On which issues was there consensus?
Given India’s efforts to develop a semiconductor manufacturing ecosystem and Singapore’s strength in this field, the two sides have decided to expand bilateral cooperation. During the second India-Singapore Ministerial Roundtable, the two sides agreed to add advanced manufacturing with a focus on semiconductors as a pillar to enhance bilateral cooperation. The two sides have also concluded a Memorandum of Understanding on India-Singapore Semiconductor Ecosystem Partnership.
PM Narendra Modi said in a social media post, “Discussions with my friend Prime Minister Lawrence Wong continued today. Our talks focused on enhancing cooperation in skills, technology, healthcare, AI and other areas. We both agreed on the need to promote trade relations.”
According to the Ministry of External Affairs, during the meeting the leaders reviewed the progress of India-Singapore bilateral relations.
Describing it as a “new chapter in the efforts”, the Ministry of External Affairs said, “Given the breadth and depth of bilateral relations and the immense potential, they decided to elevate the relationship to the level of a Comprehensive Strategic Partnership. This will also give a boost to India’s Act East Policy.”
Congratulating Wong, who was sworn in as Singapore’s Prime Minister in May this year, during his inaugural address, Prime Minister Modi said, “This is our first meeting after I assumed office as Prime Minister. My heartiest congratulations to you. I am confident that Singapore will progress even faster under the leadership of 4G (fourth generation leaders).”
‘Singapore is India’s major economic partner…’
According to the Ministry of External Affairs, the Prime Minister also emphasized that Singapore is a key economic partner of India with an investment of about US $ 160 billion in the Indian economy. “They also reviewed existing cooperation in the areas of defense and security, maritime domain awareness, education, AI, fintech, new technology domains, science and technology and knowledge partnerships. The two leaders called for strengthening connectivity between the countries to enhance economic and people-to-people ties,” the Ministry of External Affairs said in a statement.
PM Modi will also meet President Tharman Shanmugaratnam and senior ministers. He will also interact with Singapore business leaders and hold discussions with people associated with the semiconductor sector in Singapore.
Agenda of PM Modi’s visit to Singapore
PM Modi has reached Singapore after six years. Modi’s visit to Singapore is important for India’s Act East Policy. Singapore is India’s biggest trade partner among ASEAN countries. During this time PM Modi will meet business leaders and CEOs of many big companies. During this time regional issues like South China Sea and Myanmar can be discussed.
The Prime Minister’s visit to Singapore is important in terms of trade and investment. Singapore is India’s largest trading partner among ASEAN countries. Singapore is India’s sixth largest trading partner in the world. Singapore is a major source of foreign direct investment (FDI) coming to India. Singapore has an important role in the global semiconductor ecosystem. Singapore has more than 20 years of experience in this field.
Why is Singapore important for India?
At present, India’s entire focus is on the Act East Policy. India launched this policy during the 12th ASEAN-India Summit in November 2014. The aim of this policy is to counter the growing maritime capabilities in the Indian Ocean and to build strategic partnerships in the South China Sea and the Indian Ocean.
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China is constantly trying to establish its dominance in the South China Sea. Due to this, there is a constant dispute between China and many countries. China claims some parts of the South China Sea, due to which peace has been affected at the regional level. In such a situation, PM Modi’s visit to Brunei and Singapore is being considered very important under India’s Act East Policy.
Source (PTI) (NDTV) (HINDUSTANTIMES)