India and Singapore Strengthen Ties in Emerging Areas

India and Singapore have pledged to enhance cooperation in emerging areas during the second India-Singapore Ministerial Roundtable. Key focus areas include digitalisation, skill development, sustainability, healthcare, and advanced manufacturing. The meeting also discussed the 60th Anniversary of diplomatic relations and recent advancements in bilateral trade and foreign direct investment.

India and Singapore on Monday pledged to further enhance cooperation in the emerging and futuristic areas.

The Indian delegation, led by Finance Minister Nirmala Sitharaman, deliberated upon six pillars identified under the India-Singapore Ministerial Roundtable (ISMR). Deputy Prime Minister Gan Kim Yong led the Singaporean delegation during the second ISMR.

During the meeting, leaders emphasised ways to enhance cooperation between both nations in areas like Digitalisation, Skill Development, Sustainability, Healthcare & Medicine, Advanced Manufacturing, and Connectivity, according to a finance ministry post on X.

The meeting also included discussions on commemorating the 60th Anniversary of diplomatic relations between India and Singapore, alongside regional and global cooperation, including ASEAN & G20 developments.

The first round of ISMR discussions resulted in successful MoUs on healthcare, education & skill development, digital cooperation, and semiconductor ecosystem cooperation.

The meeting was attended by External Affairs Minister S Jaishankar, Commerce and Industry Minister Piyush Goyal, and Railway Minister Ashwini Vaishnaw.

ISMR is a unique mechanism aimed at setting a new agenda for India-Singapore bilateral relations. Singapore has been a major source of FDI for India, with USD 11.77 billion investments in 2023-24. In bilateral trade, Singapore was India's sixth-largest trade partner in 2023-24, with total trade reaching USD 35.61 billion.