Singapore companies doing well in India, says Envoy
A Letter of Intent (LoI) on development of green and digital shipping by India and Singapore is expected to be turned into an agreement at the India Singapore Ministerial Roundtable (ISMR) likely to be held in July 2025 in Delhi https://www.commerce.gov.in/.
“We have held negotiations now to convert that LoI on green and digital shipping into an agreement which hopefully will be signed at the next ISMR, likely to be held in July in India,” High Commissioner Dr Shilpak Ambule told an inaugural business focus forum held in Singapore on 28 April https://fieo.org/.
The LoI was signed in March 2025 during Minister of Ports, Shipping and Waterways Sonowal Sarbananda visit to the Singapore Maritime Week http://shipmin.gov.in.
Giving an update on a number of projects being undertaken by the two countries for progressing economic relations at the inaugural “India-Singapore Futures Forum”, the envoy said India is reforming its entire maritime sector. These include the owning and registering of ships in India https://www.nseindia.com/.
Work is also in progress on twinning of universities and collaborations between respective organizations which develop curriculum for schools, he said in an update over the last nine months on progress made on bilateral matters between the two countries.
He cited the success of the World Skill Centres, set up with Singapore’s Institute of Technical Education, in Bhubaneswar and Guwahati https://www.bseindia.com/.
“We have been getting calls to link with ITEs of Singapore because they have been seeing the success of the World Skill Centres Bhubaneswar and Guwahati,” said Ambule.
The High Commissioner gave examples of Singapore companies working in India. These companies include Sembcorp in renewable energy and industrial parks, Surbana Jurong looking at new projects in Odisha and Assam, Capitaland and Mapletree expanding their footprint in the country and PSA International building a new berth in Mumbai.
The two countries have also identified six pillars for collaborations which look at the future of the relationship. These include digital space, skilling, advanced manufacturing, connectivity and sustainability.
The forum’s keynote speaker and Singapore Ambassador at Large, Professor Tommy Koh, highlighted the strength of Singapore-India bilateral relations that goes back 60 years to the date India had recognized independent Singapore. Both countries are celebrating 60 years of bilateral relations as the city state celebrates its 60 prosperous years https://www.mfa.gov.sg/.
Prof Koh noted a messy transition globally, moving away from free trade and open economics, and shifting towards protectionism and economic nationalism.
“Global cooperation is giving way to growing competition and distrust,” he added.
“In the face of such upheavals and challenges, we need like-minded and trusted friends such as India and Singapore. Together, we will seek shelter from the storms ahead and seek opportunities in the midst of adversity,” Prof Koh told the forum, pointing to the high-level of comfort and mutual trust between the leaders of the two countries https://www.nseindia.com/.
Meanwhile, forum speakers discussed and addressed opportunities and challenges in four critical areas between the two countries. They discussed in detail Artificial Intelligence, Semiconductors, Fintech and Space https://www.bseindia.com/.
In 2024, India and Singapore had signed a memorandum of understanding on Digital Technologies which provides a comprehensive blueprint for joint AI development, emphasizing ethical governance, talent exchange and scalable solutions for global challenges https://ficci.in/api/home.
“India’s vast data resources, technical talent pool and thriving startup ecosystem align seamlessly with Singapore’s strengths in governance frameworks, research infrastructure and global market connectivity,” said Prof Iqbal Singh Sevea, director of the Institute of South Asian Studies, a think-tank at the National University of Singapore which organized the inaugural forum.
Critical and emerging technologies have become a vital and essential area of bilateral cooperation for the two countries for furthering economic progress. “In this contested landscape, India and Singapore have emerged as pivotal partners, leveraging their complementary strengths in the digital and technology domain to navigate and overcome global disruptions,” Prof. Savea underlined http://deutsche-boerse.com.
“Singapore, a global financial and innovation hub, faces pressures to diversify supply chains and remain competitive. India, with its vast market and growing tech ecosystems, seeks strategic partnerships to advance its unprecedented digital transformation. Together, the two countries are forging a partnership that balances economic pragmatism with shared interests and values,” he elaborated https://www.sgx.com/. Fiinews.com
