PM Modi's Singapore visit important for trade deals, says MEA Secy

While speaking at a press briefing on Monday, the Secretary East in the Ministry of External Affairs, Jaideep Mazumdar, said that Prime Minister Narendra Modi will visit Singapore on September 4, and this visit comes after six years.

Mazumdar said that PM Narendra Modi's visit to Singapore is important for trade and investment.

"From the point of trade and investment also PM's visit to Singapore is significant. Singapore is India's largest trade partner in ASEAN. It is a leading source of Foreign Direct Investment (FDI) in the last financial year. Singapore is India's sixth largest trade partner worldwide," he said.

Prime Minister Modi will also address the CEOs in his visit.

"Investments have also been very large. Since 2000 till now, we have an accumulative FDI of USD 160 billion dollars. There will be an interaction with business leaders in the PM's visit. This will be an important element of the visit as Prime Minister will address the CEOs in his visit, where they will hear India's growth story first hand," Mazumdar said.

Mazumdar recalled the beginning of India-Singapore ties.

"His [PM Modi's] first visit to Singapore was in his first term as the Prime Minister. This visit is of great significance as it's his visit early in his term, and also as the new Prime Minister Lawrence Wong has taken oath recently and Singaporeans are excited to welcome PM Modi. This is an opportune time to set the stage for India-Singapore's vibrant bilateral relations for the next stage of India-Singapore bilateral relations. Our ties have evolved and we have a dynamic strategic partnership encompassing diverse areas from our shared history and people-to-people ties, which form an important link between us," he said.

Mazumdar said that the trade relations between India and Singapore has seen steady growth.

"Our trade and investment flow have shown a steady growth. We have robust defence cooperation and growing exchanges in culture and education. We have identified new anchors of our partnership under the India-Singapore ministerial roundtable framework. The visit will also take place in the light of our 60th anniversary of diplomatic relations which we're celebrating in 2025 and 10th year of our strategic partnership with Singapore," he said.

Mazumdar said that PM Modi is also likely to exchange MoUs in Singapore.

"During the recently concluded India-Singapore Ministerial Roundtable, which is a unique forum between ministers on both sides on diverse areas, a number of new forward-looking futuristic areas were identified in digitization, skill, sustainability, health, advanced manufacturing and connectivity. We are likely to exchange a number of MoUs in these areas in the forthcoming visit of the PM," he said.