Singapore reaffirms bilateral ties with India and explores opportunities to strengthen economic cooperation

1. Minister-in-charge of Trade Relations S Iswaran is in Delhi, India from 19 to 20 June 2019. During the visit, Mr Iswaran is expected to meet with key counterparts and reaffirm Singapore’s warm and wide-ranging relationship with India. Both sides are also expected to discuss areas to further economic cooperation including in innovation and start-ups. 

2. Mr Iswaran said, “India and Singapore enjoy strong and close ties.  We reaffirm our commitment to further strengthen cooperation in areas such as trade and investment, air and logistical connectivity, and smart city development. Digital connectivity is a potential new area for bilateral collaboration given the growth of the digital economy.  We can also work together to deepen economic engagement within Asia.  India and Singapore have many complementary strengths that can help create more opportunities and mutual benefit for our people and our businesses.” 

2. India is a significant trading partner of Singapore, with total bilateral trade amounting to S$26.4 billion in 2018. Singapore’s investments in India have also grown exponentially in the past decade, with Singapore becoming India’s largest investor in FY2018.

3. Mr Iswaran will also be speaking at the Singapore Symposium, which is co-organised by the Institute of South Asian Studies (ISAS) and the Confederation of Indian Industry (CII). He will highlight how Singapore and India can deepen cooperation in areas such as air, maritime and digital connectivity. The symposium is expected to be attended by business leaders, bureaucrats, and academics from both India and Singapore.

4. Mr Iswaran will be accompanied by officials from the Ministry of Trade and Industry and the Ministry of Foreign Affairs.

MINISTRY OF TRADE AND INDUSTRY
20 JUNE 2019