India expects to conclude a ‘strategic partnership’ with Singapore during Prime Minister Narendra Modi’s visit to the South-East Asian nation. During the visit he would also meet top CEOs and address the Indian community.
When, where and what??
- Modi will be in Singapore on November 23-24 on a bilateral visit, during which he is also expected to sign an enhanced defence cooperation pact, along with other MoUs on cyber security, culture and training on urban management and the like.
- Briefing the media about the visit, Secretary (East) with the Ministry of External Affairs Anil Wadhwa said Singapore has approximately 3,50,000-strong Indian diaspora out of its total population of 5.5 million.
- The bilateral trade with Singapore is about USD 17 billion and Singaporean companies are very active in India since early 1990s, including in equity markets.
Singapore and its FDI:-
- Singapore has emerged as the second-largest source of FDI into India at about USD 35.9 billion (total for April 2000 to June 2015), which is about 13.9 per cent of total FDI into India.
- Singapore has a strategic location with status as a financial, aviation and maritime hub.
- The flow of investments, presence of a large Indian diaspora and its expertise in urban development and skill development make it a very valued partner for India
What Wadha said about Ind-Sin partnership??
- During the visit, we would conclude a strategic partnership with Singapore, along with further strengthening of our defence relationships.
- He further said the focus of the visit will also include ‘five S plank’ of scaling up trade and investment, speeding up connectivity, smart cities, skills development and state focus.
- Also, an enhanced defence cooperation agreement is likely to be signed during this visit, along with some other MoUs on cyber security, culture, training on urban management etc.
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