Our Terms & Conditions | Our Privacy Policy
India emerging as a major pole in global economy with which Singapore intends to collaborate, says President Tharman Shanmugaratnam
Singapore President Tharman Shanmugaratnam on Saturday said India is emerging as a major pole in the global economy with significant potential as an export economy and is a nation Singapore aims to deepen its collaboration with.
Speaking to reporters while wrapping up his two-day tours to Odisha, Shanmugaratnam said, “Singapore and India are now on a new plane of cooperation. It reflects India’s aspirations and it also reflects the fact that we are now in a world where we have to work harder at collaboration with each other.”
“India aspires to be a pole in its own right in a multi-polar world that is true geopolitically but it is also true economically. India is emerging as a major pole for the global economy,” he said.
Joint priorities
Over the next 10 to 20 years, India is set to play a key role due to its favourable demographics, its current stage in the development process, its readiness to advance up the skills and value chain, and its vast potential as an export-driven economy, said Singapore President. “India is a nation that we would like to collaborate with. India’s priorities and Singapore’s priorities also joined very well. If you look at the priorities that have been established under the ISMR (India Singapore Ministerial Roundtable), we are now working together. The two governments are working together to develop the semiconductor ecosystem in India,” he pointed out.
- Also read: FSSAI CEO says issues of added sugar, pesticides collective responsibility
“Singapore is seeing how it can contribute to that ecosystem. We are also looking at new generation industrial parks and some called particular is very actively exploring possible sites for a new industrial park that will have Singapore characteristics,” said Shanmugaratnam.
Major enabler
Stating that skilling would be a major enabler for the future for India, he said, “the whole skills infrastructure is being developed and given much greater emphasis in India today and Singapore has some experience there and we intend to be a player in that Indian skills ecosystem.”
On renewable energy sector, he said, “India is fortunate to have both solar and wind and it is going to be a significant producer of renewable energy. Again Singapore is keen to engage with India in that development and hopefully over time develop the green corridor leading to Southeast Asia that may take some time but it is a very important aspiration.”
Dwelling on connectivity, the Singapore president said, “the flights are full and there is scope to work on the expansion that benefits both countries and both economies. Aviation is the potential for India to emerge as a player in the MRO (maintenance, repair and overhaul) business.” “The digital space including FinTech and everything to do with finance is another area in which we are working closely together to see what we can do to expand the flow of data the trust and safe flow of data between financial institutions in India and Singapore. The agencies are working hard at that,” he added.
“It is about building trust. It is not just about specific industries but it is about working on projects that continue to build trust between the two countries. Trust is in short supply internationally. And Singapore and India can show how it is possible to build trust in today’s world even in today’s uncertain and fractious world so we are on a new plane in the relationship,” he said.
SHARE
Published on January 18, 2025
Images are for reference only.Images and contents gathered automatic from google or 3rd party sources.All rights on the images and contents are with their legal original owners.
Aggregated From –
Comments are closed.