Indian Prime Minister (PM) Narendra Modi discussed new areas of cooperation such as clean energy and fintech with Singapore Deputy Prime Minister Lawrence Wong on Monday.
In a Facebook post following the meeting with PM Modi, which was also attended by Singaporean Trade Minister Gan Kim Yong and Indian Finance Minister Nirmala Sitharaman, Lawrence said the two sides held “excellent discussions on new areas of cooperation such as green hydrogen, solar energy, fintech, as well as data links.” He further added that India is “an important strategic partner of Singapore across many sectors” and that he is “glad that the pace of bilateral engagements has picked up substantially as the pandemic subsides.”
Had a fruitful meeting with DPM & Finance Minister of Singapore @LawrenceWongST, Minister of Trade & Industry Gan Kim Yong. Discussed ways to further boost bilateral ties between our countries, especially in emerging areas like digital connectivity, green hydrogen and Fintech. pic.twitter.com/ZiCoBHKhF1
— Narendra Modi (@narendramodi) September 19, 2022
Wong, who is also the country’s finance minister, said he looks forward to restarting the Singapore-India Hackathon, which was disrupted due to the COVID-19 pandemic, in order to “build bridges between our young talents.”
According to a press release by India’s Ministry of External Affairs (MEA), the Singaporean delegation also briefed the Indian leader about the outcomes of the inaugural session of the India-Singapore Ministerial Roundtable (ISMR) that was held last Saturday. At the session, ministers held discussions on wide-ranging issues, including digital connectivity, fintech, green economy, skill development, and food security.
The MEA described the ISMR as “a pathbreaking initiative” that “reflects the unique nature” of India’s relationship with Singapore.
A Joint India-Singapore Ministerial delegation, comprising Singapore's Dy PM&FM Lawrence Wong, Minister for Trade& Industry Gan Kim Yong& FM Nirmala Sitharaman, called on PM Modi; briefed him outcomes of India-Singapore Ministerial Roundtable session held on Sept 17 in Delhi: MEA pic.twitter.com/ewMk4uUCpN
— ANI (@ANI) September 19, 2022
During his five-day visit, Wong also met state leaders, including Gujarat chief minister Bhupendra Patel. During a speech in Gujarat on Sunday, Wong highlighted the close ties shared by the two nations and the potential for cooperation in emerging sectors—such as fintech—as India’s digital economy expands. “Singapore has long believed in the potential and promise of India. That is why we have been investing in India. Over the last 20 years, our investments in India have grown by about 20 times,” Wong noted.
The leaders discuss ways to boost bilateral ties between India and #Singapore, especially in emerging sectors like digital connectivity, green hydrogen, and Fintech.
— All India Radio News (@airnewsalerts) September 19, 2022
India and Singapore also share close relations in the defence sector. Last January, their navies signed an agreement on submarine rescue support and cooperation that allows India to use its deep submergence rescue vessels to assist Singapore in situations where one of its submarines needs to be rescued from underwater. They also hold annual bilateral maritime exercises via SIMBEX and trilateral exercises involving Thailand via SITMEX.
Furthermore, the Indian military helps Singapore train its mechanised forces in Babina. Singapore also has access to the Changipur test range in Odhisha.
In addition, they have several naval pacts that allow them to use each other’s bases and access faculties for logistical support.