India-Singapore Relations
- 04 Sep 2024
- High-Level Inter-Governmental Contacts:
- Frequent and high-level exchanges, including the Prime Minister's upcoming visit.
- Recent second India-Singapore Ministerial Roundtable with senior Indian ministers.
- Key Areas of Cooperation:
- Digitalisation, skills development, sustainability, healthcare, advanced manufacturing, and connectivity.
- Broader contacts include parliamentary and judicial exchanges.
- Economic Ties:
- Singapore is India’s largest trading partner among ASEAN countries and the sixth largest globally.
- Singapore is also the largest source of foreign direct investment (FDI) for India.
- People-to-People Exchanges:
- Large concentration of IIT and IIM alumni in Singapore.
- Historical ties, including the Indian National Army's presence and the contributions of early Indian diaspora in Singapore.
- Regional Policy and Strategic Importance:
- Singapore has supported India’s “Look East” and “Act East” policies.
- Facilitated India’s dialogue partnership with ASEAN.
- Regional implications due to Myanmar’s instability, with India and Singapore both having stakes.
- Defence and Maritime Cooperation:
- Important defence component and maritime collaboration.
- Focus on the Indo-Pacific region amidst growing Chinese influence and new regional architectures like the QUAD.
- Trade and Economic Outlook:
- The visit provides an opportunity to review and expand trade and economic partnerships.
- Potential for increased Chinese FDI into India, with Singaporean entities likely to play a role.
- Complementarities and Challenges:
- Singapore's role as a global trading and investment hub complements India’s economic landscape.
- Highlights India's regulatory and structural inefficiencies, pointing to areas needing improvement for enhanced bilateral cooperation.