"PM's visit to Singapore is crucial for trade," says MEA Secretary
New Delhi [India], September 2: During a press briefing on Monday, Jaideep Mazumdar, Secretary East in the Ministry of External Affairs, announced that Prime Minister Narendra Modi is scheduled to visit Singapore on September 4, marking his first visit to the country in six years.
Mazumdar emphasized the significance of the visit for trade and investment. "PM Modi's trip to Singapore is crucial for trade and investment. Singapore is India's largest trade partner in ASEAN and was a major source of Foreign Direct Investment (FDI) last financial year. It is also India's sixth largest trade partner globally," he stated.
The Prime Minister will also engage with business leaders during his visit. "Since 2000, Singapore has accumulated USD 160 billion in FDI in India. The Prime Minister will interact with CEOs, providing them with firsthand insights into India's growth story," Mazumdar added.
Mazumdar also highlighted the importance of this visit in the context of India-Singapore relations. "PM Modi's previous visit to Singapore was during his first term. This visit is significant as it coincides with Singapore's new Prime Minister Lawrence Wong's recent appointment, and it is an opportune moment to advance India-Singapore relations. Our partnership has grown dynamically, encompassing diverse areas from our shared history to people-to-people ties," he said.
The Secretary noted the steady growth in trade relations between the two countries. "Our trade and investment flows have been consistently growing. We have strong defense cooperation and increasing exchanges in culture and education. We are exploring new partnership areas under the India-Singapore ministerial roundtable framework. This visit aligns with the upcoming 60th anniversary of diplomatic relations and the 10th year of our strategic partnership with Singapore," Mazumdar said.
He also mentioned that Prime Minister Modi is expected to exchange Memorandums of Understanding (MoUs) during his visit. "The recent India-Singapore Ministerial Roundtable identified new areas for cooperation, including digitization, skills, sustainability, health, advanced manufacturing, and connectivity. Several MoUs in these areas are likely to be signed during the Prime Minister's visit," Mazumdar concluded.