To bolster collaboration between India and Singapore, Prime Minister Narendra Modi has announced that the country will set up an Invest India office in the city-state. The announcement was made after Modi met top Singaporean CEOs on Thursday, September 5, during his 2-day official visit to the country.
During the meeting, Modi acknowledged the role played by the Singaporean industry leaders in strengthening bilateral relations and promoting economic cooperation between the two countries. “To further facilitate their collaboration with India, Prime Minister announced the setting up of an INVEST INDIA office in Singapore. He further added that the elevation of India-Singapore ties to a Comprehensive Strategic Partnership would give a major thrust to bilateral economic relations,” a statement from India’s MEA read.
PM @narendramodi interacted with top business leaders and CEOs in Singapore, emphasising the economic reforms and policy initiatives aimed at enhancing India's business landscape. The discussions centred on fostering innovation across diverse sectors, exploring new avenues for… pic.twitter.com/stSujfVJju
— PMO India (@PMOIndia) September 5, 2024
“Prime Minister noted that India had made transformative progress in the last ten years and would continue on the same path given its strengths of political stability, policy predictability, Ease of Doing Business, and its reform oriented economic agenda.
“It is set to become the third largest economy in the world over the next few years. Talking of India’s impressive growth story, its skilled talent pool, and expansive market opportunities, he highlighted that India is contributing 17% to global economic growth.
Addressing the India-Singapore business roundtable meeting. https://t.co/UusHam08N6
— Narendra Modi (@narendramodi) September 5, 2024
“Prime Minister spoke about various initiatives to enhance India’s participation in global value chains through programs such as Production Linked Incentive scheme, India Semiconductor Mission and establishment of 12 new Industrial Smart Cities.
“He called upon the business leaders to look at opportunities in India in the field of skill development. For businesses looking for resilient supply chains, Prime Minister noted that India is the best alternative given its strengths. PM assured that India will increase the pace and scale of infrastructure development in his third term and apprised the CEOs of new opportunities in the fields of Railways, Roads, Ports, Civil Aviation, Industrial Parks and Digital connectivity,” the statement read.
