Further cooperation on agenda during PM Modi June visit
India and Singapore will work to collaborate on technology development as part of furthering cooperation under the Strategic Partnership during Prime Minister Narendra Modi’s June visit to the city state.
“It would be a good opportunity for both sides to take stock of the progress that we have made in different pillars of our Strategic Partnership, and explore areas for further cooperation,” Singapore Minister for Education (Higher Education and Skills) Ong Ye Kung said on 6 April 2018.
“Next, we can collaborate to develop our technology and innovation ecosystems. Technology is changing the way we work, and how services are delivered and consumed,” said Ong, noting that “India has embraced this wave of change”.
Addressing the 12th International Conference on South Asia in Singapore, the minister highlighted India’s technological achievements such as Jan Dhan Yojana programme, Aadhaar and IndiaStack.
Fintech, noted Ong, has accelerated the digitization of financial services in India.
“So in India, we have found a kindred spirit, because Fintech is also a key activity Singapore is promoting.
“India has a vast market, and in Singapore, we have almost every global financial institution operating here, and they are interested in investing in and serving the Indian market. So there is a clear synergy between us,” he stressed.
Singapore, the minister said, is watching the significant developments in India closely, such as the introduction of Goods and Services Tax, adding “finally, India is a one single market.”
The demonetization has boosted digital payment in India while initiatives such as Make in India, Skill India and Startup India are aimed at facilitating job creaton and inclusive growth, he noted.
“Our economic relationship with India is healthy and growing,” Ong underlined the two countries’ bilateral ties.
The annual conference was organized by the Institute of South Asian Studies, a think tank of the National University of Singapore. fii-news.com
