Alvin Tan on economic cooperation between Singapore and India
A digital payments link-up between Singapore’s PayNow and India’s Unified Payments Interface (UPI) was launched in February 2023. Both countries facilitated a pilot shipment involving digital exchanges of bills of lading through the TradeTrust framework. Discussions are also ongoing on other initiatives such as increasing food trade between Singapore and India. Minister of State for Trade and Industry Alvin Tan gave these updates in response to a Parliamentary question on progress made in five areas of collaboration which were identified during the first meeting of the India-Singapore Ministerial Roundtable in September 2022. He spoke in Parliament on Tuesday (Apr 2). Mr Tan said chambers of commerce and trade associations play a key role in encouraging and helping Singaporean companies do more business in India, whose rapid economic growth presents many opportunities.
A digital payments link-up between Singapore’s PayNow and India’s Unified Payments Interface (UPI) was launched in February 2023. Both countries facilitated a pilot shipment involving digital exchanges of bills of lading through the TradeTrust framework. Discussions are also ongoing on other initiatives such as increasing food trade between Singapore and India. Minister of State for Trade and Industry Alvin Tan gave these updates in response to a Parliamentary question on progress made in five areas of collaboration which were identified during the first meeting of the India-Singapore Ministerial Roundtable in September 2022. He spoke in Parliament on Tuesday (Apr 2). Mr Tan said chambers of commerce and trade associations play a key role in encouraging and helping Singaporean companies do more business in India, whose rapid economic growth presents many opportunities.
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