India and Singapore Forge Comprehensive Strategic Partnership with $60 Billion Investment Pledge

India and Singapore have elevated their ties to a comprehensive strategic partnership, signing four MoUs, including one focused on semiconductor industry cooperation. Singaporean companies committed to investing $60 billion in the coming years. Leaders Narendra Modi and Lawrence Wong discussed enhancing cooperation across various sectors including technology, healthcare, and advanced manufacturing.

India and Singapore have elevated their relationship to a comprehensive strategic partnership, signing four Memorandums of Understanding (MoUs) aimed at enhancing cooperation in the semiconductor industry and other key sectors. This move comes as Singaporean companies have pledged an investment of around $60 billion in the next few years.

Indian Prime Minister Narendra Modi lauded Singapore as a role model for developing nations and expressed India's ambition to create 'several Singapores' during his discussions with Singaporean Premier Lawrence Wong. The leaders held a productive roundtable with top business leaders and CEOs, where opportunities for deepening economic linkages were discussed.

Modi highlighted numerous reform initiatives in India aimed at encouraging investment and innovation. Both countries identified collaborative opportunities in areas like skilling, digitalization, mobility, advanced manufacturing, healthcare, and cybersecurity. The leaders also reviewed existing cooperation in defense, security, education, and technology, committing to promoting peace and stability across the Indo-Pacific region.

(With inputs from agencies.)