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Prime Minister Narendra Modi on Thursday said that he has prepared a detailed roadmap for the future of India-Singapore partnership with Singapore's Prime Minister Lawrence Wong.
He said that the focus on advanced areas such as manufacturing, green shipping, skilling, civil nuclear, and urban water management marked a significant step in India-Singapore relations as they celebrate 60 years of diplomatic ties. "Today, we have prepared a detailed roadmap for the future of our partnership. Our collaboration will not be limited to traditional sectors only. In keeping with the changing times, areas such as Advanced manufacturing, green shipping, skilling, civil nuclear and urban water management will also become the focal points of our cooperation," said PM Modi while adressing a joint press conference with Singapore PM in Hyderabad House. PM Modi added that Singapore is a crucial part of India's Act East policy and is one of the largest trade partners. "Today, in the Southeast Asia region, Singapore is our largest trade partner. There has been a large-scale investment from Singapore in India. Our defence relations are continually strengthening. People-to-people ties are deep and vibrant," said PM Modi. Singapore is India's sixth-largest trade partner, with bilateral trade valued at around 2.96% of India's overall trade. Singapore is a major source of foreign direct investment (FDI) in India, with cumulative investments reaching $175 billion since 2014. "Singapore is an important pillar of our Act East Policy. We will continue to work together to advance our Joint Vision for cooperation with ASEAN and for peace and stability in the Indo-Pacific region," he added. PM Modi said that both countries have decided to cooperate in the field of AI and other digital technologies. "Technology and Innovation are the strong pillars of our partnership. We have decided to enhance cooperation in AI, quantum, and other Digital technologies. With the agreement in the space sector today, a new chapter is being added in cooperation in the field of space science. We have decided to hold the next round of the India-Singapore Hackathon later this year to connect our youth with their talent. UPI and PayNow are successful examples of our digital connectivity, and it is a matter of pleasure that 13 new Indian banks have joined them today," PM Modi said. He also welcomed Wong on his first visit to India after assuming office. "After assuming office, on Prime Minister Wong's first visit to India, I extend a hearty welcome to him. This visit is even more special, as this year we are celebrating the sixtieth anniversary of our relations," he said. PM Modi reminisced about how, in his last visit to Singapore, their ties were elevated to a Comprehensive Strategic Partnership. "Last year, during my visit to Singapore, we elevated our relations to the status of a Comprehensive Strategic Partnership. Over the past year, our dialogue and cooperation have gained momentum and depth. Today, in the Southeast Asia region, Singapore is our largest trading partner. Large-scale investment has taken place from Singapore to India," he said. PM Modi highlighted the success of the Semiconductor Ecosystem Partnership agreement, under which Singapore participated in the Semicon India conference. "The Semiconductor Ecosystem Partnership agreement signed last year has also given a new direction to research and development. At the 'Semicon India' conference, Singaporean companies are actively participating. In Chennai, Singapore will collaborate in establishing a National Centre of Excellence for Skilling," he said. https://x.com/narendramodi/status/1963506475705205239 https://x.com/narendramodi/status/1963498144844439800 Earlier, the leaders jointly inaugurated the JN Port PSA Mumbai Terminal (BMCT) Phase-II in the presence of officials from both countries. (ANI)
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