India, Singapore enter into Strategic partnership [ Current News (Concise) ]
To raise mutual relations of both countries India and Singapore have signed a joint declaration envisaging a Strategic Partnership. During official visit to Singapore of Prime Minister Narendra Modi’s It was signed along with 10 mutual agreements as part of his second leg of two nation’s visit of South - East Asia viz. Malaysia and Singapore.
- ‘five S planks’ i. e. scaling up trade and investment, smart cities, speeding up connectivity, skills development and state focus are the main targets of this visit.
To assemble the strategic relations between both countries are the main aim of this strategic partnership and ranging from political, defense and security cooperation to economic, cultural and people - to - people contacts.
- In existing areas of cooperation between both countries in various sectors would be expand and grow though this engagement.
- Relations, economic and cultural cooperation, skill development and capacity building defense by various sectors.
Bilateral agreements signed are:
- Singapore and India collaborate on technology and research due to permissive of MoUs on curtailing drug trafficking and improving cybersecurity.
- Collaboration in urban planning and wastewater management,
- Indian artefacts to the Asian Civilizations Museum of Singapore by extending long - term loan.
- It collaborates also in the fields of arts, museums, archives and monuments.
- MoU for cooperation in civil aviation services and airport management beginning with Jaipur and Ahmedabad airports.
- To enhance mutual maritime security Operationalization of the Technical Agreement on sharing white - shipping information can take place.
About Singapore - India Relations
- Indian diaspora Out of its total population of 5.5 million Southeast Asia region has approximately 3.5 lakh - strong in Singapore one of the fastest growing economy.
- Number of Singaporean companies is active in India since 1990s and India’s mutual trade with Singapore is about 17 billion dollars.
- According to Foreign Direct Investment into India Singapore is the second - largest source at about 35.9 billion dollars (from 2000 to 2015), which is about 13.9 per cent of India’s total inbound FDI.
- Southeast Asia along with status as a financial, aviation and maritime hub is strategic location for Singapore and that is important aspect for India.
- Singapore is precious partner for India due to large Indian diaspora, flow of investments and urban development and skill development.
- Published/Last Modified on: November 25, 2015