Our Bureau
Singapore
India and Singapore have reaffirmed their commitment to enhancing cooperation in emerging and futuristic sectors during the second India-Singapore Ministerial Roundtable (ISMR) held on August 26, 2024. Led by Finance Minister Nirmala Sitharaman and Singapore’s Deputy Prime Minister Gan Kim Yong, the discussions focused on six key pillars: Digitalisation, Skill Development, Sustainability, Healthcare, Advanced Manufacturing, and Connectivity.
Both nations aim to commemorate the 60th anniversary of their diplomatic relations while exploring regional and global collaboration. The ISMR, established in 2022, serves as a platform to review and expand bilateral ties, with Singapore being a significant source of foreign direct investment in India, totaling $11.77 billion in 2023-24.
The leaders emphasized the importance of strengthening the strategic partnership between India and Singapore by concentrating on key areas that are central to the future growth of both nations. The discussions focused on the need to further strengthen the partnership and explore new avenues for cooperation.
External Affairs Minister S Jaishankar described the talks as productive, highlighting the exploration of cooperation in digital, skill development, sustainability, healthcare, connectivity and advanced manufacturing. “ISMR enables the emergence of a more contemporary partnership,” he stated.
The two nations have added advanced manufacturing, semiconductors, and aviation and maritime connectivity as new areas of collaboration under the ISMR mechanism. These topics were key focuses at the second roundtable, signaling the increasing importance and scope of this partnership.
Commerce Minister Piyush Goyal stated that the discussions focused on “further elevating and broadening our strategic partnership across the key pillars of ISMR,” reaffirming the shared vision of deepening economic ties.
The outcomes of the ISMR are expected to pave the way for deeper integration and mutual growth, reflecting the strategic importance of the India-Singapore partnership in the global landscape.
