External Affairs Minister Sushma Swaraj held talks with her counterpart from Singapore K Shanmugam during which they also discussed riots in 'Little India' district where some 400 migrant workers including Indians went on the rampage after a construction worker was knocked down and killed by a bus last December.
"The focus of the discussions were largely economic. Perhaps many of you are aware that Singapore is the source of the largest FDI flow into India last year. It is also the destination of the largest flows of foreign investment from India last year.
However, he said there was no discussion on General Anti Avoidance Rule (GAAR) on taxation. It was proposed by the previous government but was suspended after a controversy that it will adversely impact the international investments here.
Singapore is India's largest trade and investment partner in the ASEAN, accounting for a third of our overall trade with ASEAN. Economic and commercial ties have expanded significantly, particularly after the conclusion of the Comprehensive Economic Cooperation Agreement in 2005.
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The Spokesperson said the two minister also discussed "events in Little India and view were exchanged" on the matter but did not elaborate much.
Shanmugam is among the high-profile visitors here wanting to engage with the new leadership.
Talking about Modi's dream of skill, speed and scale, the Spokesperson said Singapore has also also offered its help for advanced skills training for India's youth.
Singapore has also offered help in Modi's dream project of building 100 smart cities along the key infrastructure projects such as Delhi-Mumbai Industrial Corridor entailing setting up of seven Greenfield Smart Cities between Delhi and Mumbai with three Smart Cities at Dholera, Shendra-Bidkin and Global City to be built by 2019.