India-Singapore ties will enable us to enhance economic cooperation
- Sep 5, 2024
- 1 min read
In recent years, India's engagement with ASEAN has deepened, with Singapore emerging as a key partner. Under the 'Act East Policy,' ties between India and Singapore have strengthened, marked by a long-standing relationship built on mutual respect and cooperation across diverse sectors.
Singapore is now among India’s top trading partners, with bilateral trade reaching $35.6 billion in 2023-24, and it remains a significant source of foreign direct investment, contributing $11.8 billion in the same period.
To bolster this partnership, India is focusing on five key areas: infrastructure, sustainability, artificial intelligence, skill development, and advanced manufacturing.
Singapore’s expertise in urban planning and smart cities aligns with India's ambitious infrastructure projects. Both countries are also eyeing collaboration in AI research, sustainable practices, and skill development programs.
These initiatives aim to harness the economic potential of India-Singapore ties, paving the way for deeper integration and collective growth in the ASEAN region.
Article by Dr Anish Shah for The Economic Times. Read more here or in the PDF below.
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