Singapore optimistic about India's long-term prospects: Tharman

Singapore optimistic about India's long-term prospects: Tharman

Tharman and Modi
Singapore's Senior Minister Tharman Shanmugaratnam calls on India's Prime Minister Narendra Modi in New Delhi. (Photo: PMO India)

NEW DELHI: Singapore and its companies are optimistic about India's long-term prospects, said Senior Minister Tharman Shanmugaratnam on Monday (Jan 6).

Speaking after a meeting with Prime Minister Narendra Modi, Mr Tharman said Singapore firms are growing their investments in India, including in technology parks and logistics.

“We are also deepening collaboration in the digital economy, including linking up our payments systems and national single window platforms for trade,” he said.

A statement from Mr Modi's office said that both he and Mr Tharman expressed satisfaction at the "rapid pace of bilateral relations" between Singapore and India.

They discussed several matters in economic cooperation, including infrastructure, skills, India-Singapore Comprehensive Economic Cooperation Agreement (CECA) and the digital economy.

Mr Modi also expressed his desire to boost cooperation between India and Singapore in the areas of infrastructure, tourism, digital payment systems, innovation and governance, the statement said.

“PM Modi and I had a good discussion on India’s economic and social strategies to ensure sustained growth and inclusivity in the years to come," said Mr Tharman.

READ: India, Singapore improve economic cooperation in enhanced trade agreement

The Indian government under Mr Modi has made "huge strides" in social transformation, particularly in sanitation, electrification of villages, bank accounts for all and health insurance.

"This will be coupled with further reforms in economic transformation, particularly to ensure job growth for India's young population," he said.

Mr Tharman is on a working visit to New Delhi and Mumbai until Jan 8, where he will meet with Indian government officials and business leaders.

Source: CNA/de(cy)

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