President Halimah Yacob sees strengthening ASEAN-India Strategic Partnership
Singapore, having drawn US$71 billion Indian investment from 2008 to 2021, act as a springboard for India’s ASEAN strategy, High Commissioner P. Kumaran has underlined this in a special supplement launched at the 75 Independence Day celebration in the city state on 15 August 2021.
“The large presence of Indian companies in Singapore is reflected in the outward Indian FDI into Singapore of nearly US$71 billion between 2008 and 2021, making Singapore one of the top destinations for Indian investments across sectors,” said the Indian envoy.
Singapore has just assumed the role of Country Coordinator for ASEAN-India Dialogue Relations this month. “We look forward to working with India to deepen India’s engagement of the region and to strengthen the ASEAN-India Strategic Partnership,” Singapore President Halim Yacob further endorsed the partnership between the two countries.
Singapore and India share a robust partnership that is broad and deep, added Halimah in a congratulatory message to President Ram Nath Kovid on India’s 75th Independence Day.
“Despite the challenges brought about by the COVID-19 pandemic, our two countries have managed to forge even closer ties through continued mutual support. This was made possible by the longstanding friendship between our two countries, underpinned by strong fundamentals in areas including economic, security and people-to-people ties,” said President Halimah.
Singapore continues to be confident of India’s growth prospects and remains the largest source of foreign direct investment annually. “As we look ahead and seek to future-proof our workforce and economies, our two countries are also pursuing greater cooperation in emerging areas of Fintech, digitisation, and innovation.”
“Given the wide-ranging cooperation between our two countries, I am confident that relations between Singapore and India will continue to strengthen as we emerge from the pandemic.
Elaborating, High Commissioner Kumaran said Singapore and India have a remarkable historical connection and continue to be closely linked in many areas.
Singapore’s financial hub status, high levels of success in developing vocational skills and knowledge of the 10-member nation ASEAN market, combined with India’s long-term growth prospects, land availability, and a large and young workforce willing to work at affordable wage offers complementarity that can be exploited for mutual benefits, said the envoy.
“There are nearly 30 regular bilateral mechanism, dialogues and exercises (between the two countries),” said the Indian envoy to Singapore during the virtual celebration of India’s Independence Day.
“Our political leadership is closely aligned in its thinking, as we look at Singapore as a springboard for our ASEAN strategy and work closely to enhance our trade and investment partnership.”
There is a great convergence on a broad range of international issues, and both of the nations are members of a number of forums such as the East Asia Summit, Commonwealth, Indian Ocean Rim Association and Indian Ocean Naval Symposium.
“Trade and economic ties between Singapore and India are extensive and growing,” he said in the supplement on India @ 75 ‘Azadi Ka Amrit Mahotsav’.
“In addition, there are a number of areas such as research and innovation, startups, fintech, artificial intelligence, logistics, pharmaceuticals and vaccines that offer huge opportunities for partnership.
“We hope to pursue as many of these as possible in the coming months and years,” said Kumaran who hoisted the Indian flag and read the President’s message to the Nation at the High Commission this morning which was followed online by the Indian diaspora in Singapore. #investment #exports #trade #manufacturing #technology /fiinews.com
