The Ministry of External Affairs on Tuesday said that External Affairs Minister Sushma Swaraj and Singapore's Minister for Foreign Affairs and Minister for Law K. Shanmugam discussed largely economic issues and also exchanged views on possibilities of cooperation in the economic sphere.
"The focus of the discussion was largely economic. Singapore was the largest source of FDI flow to India last year. It is also the destination of the largest flow of FDI from India," said MEA spokesperson Syed Akbaruddin.
He said that India has very robust economic relationship with Singapore and added that India's trade ties with Singapore are the largest with any ASEAN nation.
"The two leaders exchanged views on possibilities of cooperation in the economic sphere," he added.
He also said that the two leaders discussed the possibility of Singapore companies participating in India's infrastructure development projects.
"The focus of Singapore investments in these infrastructural areas was on Urban Development Projects and efficient delivery of services. Singapore has benchmarked itself against best practices globally and it would be useful for us to gain from that knowledge," Akbaruddin said.
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He also informed that External Affairs Minister Sushma Swaraj will be visiting Singapore to flag off the celebrations of the 50th Anniversary of setting up of Diplomatic Relations between Singapore and India.
"As part of these celebrations, we propose to have state visit exchange between the two countries," Akbaruddin said added.