New Delhi: Prime Minister Narendra Modi described Singapore as "an inspiration for every developing nation" during talks with Singapore's Prime Minister Lawrence Wong on Thursday while declaring that "we also aim to create multiple ‘Singapores’ within India”.
The two leaders agreed to elevate bilateral relations from a Strategic Partnership to a Comprehensive Strategic Partnership. Both countries also committed to further expanding trade and investment, with Singapore already being India's largest source of foreign direct investment (FDI) in the last financial year.
The leaders reviewed cooperation in several key areas, including defence, maritime security, education, Artificial Intelligence (AI), fintech, and semiconductor development. Four Memorandums of Understanding (MoUs) were signed, covering cooperation in semiconductors, digital technologies, skill development, and healthcare.
In an effort to strengthen India's semiconductor manufacturing ecosystem, Modi visited AEM, a major Singaporean company in the semiconductor sector, where he was briefed on its global operations and plans for India. Modi also met with top business leaders from Singapore, including representatives from companies like Temasek, GIC, and Singapore Airlines, to encourage further investments.
Both leaders called for accelerated action in key sectors such as advanced manufacturing, connectivity, digitisation, healthcare, and sustainability. They emphasised that cooperation in semiconductors and emerging technologies would open a new chapter in bilateral relations.
On the geopolitical front, Modi affirmed India's commitment to working with Singapore to promote regional peace, stability, and prosperity. The discussions also touched upon India's relations with Asean and its Indo-Pacific vision. While no specific mention of China's actions in the South China Sea was made, officials indicated that regional stability and open commerce were key topics.
Modi also announced the opening of India's first Thiruvalluvar Cultural Centre in Singapore to strengthen cultural ties, as well as the establishment of an "Invest India" office in Singapore to boost investment.
Highlighting Singapore's significance as a partner, Modi noted that Singapore's investment in India has reached around $160 billion, and bilateral trade has more than doubled in the past decade. He praised the strong ties between the two nations, underlining Singapore's role in India's "Act East" policy and cooperation across sectors, from defence to technology.
The visit included meetings with Singapore's President Tharman Shanmugaratnam, senior minister Lee Hsien Loong, and former Prime Minister Goh Chok Tong. Singaporean PM Wong accepted an invitation from Modi to visit India, as both nations look ahead to celebrating the 60th anniversary of diplomatic relations in 2025.
