PM Modi Boosts India-Singapore Ties with Invest India Office & New MOUs

Prime Minister Narendra Modi announced the launch of an Invest India Office in Singapore to support Singaporean investors. The announcement follows the exchange of four key MOUs during Modi's visit, aimed at enhancing cooperation in digital technology, semiconductors, skill development, and healthcare.

Prime Minister Narendra Modi has announced the establishment of an Invest India Office in Singapore, designed to assist Singaporean investors in navigating diverse sectors, the Ministry of External Affairs said on Thursday. Highlighting the rapid opportunities in India, MEA Secretary East, Jaideep Mazumdar, emphasized the timeliness for Singapore CEOs to gain first-hand insights from PM Modi on India's offerings.

During his two-day visit, Prime Minister Modi participated in several interactions. Four Memorandums of Understanding (MOUs) were signed in semiconductor ecosystems, digital technologies, skill development, and healthcare. 'The India-Singapore Ministerial Roundtable has set the next stage in our bilateral relations, identifying six pillars of cooperation, of which four are addressed by these MOUs,' Mazumdar stated in a briefing.

'India and Singapore relations are now future-ready, reflected in both Prime Ministers' decision to upgrade the relationship to a comprehensive strategic partnership,' added Mazumdar. PM Modi's announcement of the Invest India Office aims to boost bilateral trade and investment by helping Singaporean investors navigate multiple sectors identified within the six pillars of cooperation.

In addition, PM Modi will meet with CEOs of major Singaporean companies with significant investments in India, seeking to expand their footprint. 'Considering India's fast-evolving opportunities, this is a prime time for CEOs to directly understand India's political stability, policy predictability, and reform-focused economic agenda,' Mazumdar noted. He also detailed PM Modi's visit to AEM Holdings, a leader in semiconductors and electronics, emphasizing India's efforts to develop its semiconductor manufacturing ecosystem.

Both Prime Ministers engaged with interns from India and Singapore, trained as part of bilateral programs, and PM Modi invited semiconductor CEOs to Semicon India, happening September 11-13. On people-to-people ties, discussions included expanding flight connectivity and establishing the first Thiruvalluvar Cultural Centre in Singapore. Relations were elevated to a Comprehensive Strategic Partnership.

Earlier, PM Modi met Singapore President Tharman Shanmugaratnam, discussing broader cooperation avenues, attended a lunch hosted by Senior Minister Lee Hsien Loong, and held bilateral talks with PM Lawrence Wong at Parliament House. The discussions culminated in the signing of MOUs in key areas, with an invitation extended by Modi to Wong to visit India, which was accepted.

(With inputs from agencies.)