PM Modi arrives in Singapore to strength India’s diplomatic outreach

New Delhi, Sep 04: Prime Minister Narendra Modi arrived in Singapore on Wednesday, marking his first visit to the city-state in nearly six years and his fifth official visit overall. This trip follows his historic two-day visit to Brunei, where he became the first Indian leader to make a bilateral visit, highlighting India's growing diplomatic outreach in Southeast Asia.

PM Modi's visit to Singapore comes at the invitation of his Singaporean counterpart, Prime Minister Lawrence Wong. Upon his arrival at Changi Airport, Modi was greeted with an official welcome, reflecting the significance of this visit. During his stay, Modi is scheduled to meet with key Singaporean leaders, including President Tharman Shanmugaratnam, Senior Minister Lee Hsien Loong, and Emeritus Senior Minister Goh Chok Tong. Both Wong and Lee are set to host Modi for separate meals, emphasizing the close personal and diplomatic ties between the two nations.

Expressing his enthusiasm, PM Modi tweeted, "Landed in Singapore. Looking forward to the various meetings aimed at boosting the India-Singapore friendship. India’s reforms and the talent of our Yuva Shakti make our nation an ideal investment destination. We also look forward to closer cultural ties."

This visit will further strengthen the already robust relationship between India and Singapore. The two countries are eager to elevate their partnership across various sectors, including trade, technology, and defence, at a time when global economic dynamics are rapidly evolving.

In a tweet from Singapore, MEA spokesperson, Randhir Jaiswal highlighted the warm reception Modi received, stating, "Fortifying bonds of friendship. PM @narendramodi warmly hosted by PM @LawrenceWongST at the iconic Sri Temasek in Singapore. An evening cherishing the deep and long-standing ties awaits." The Singaporean Prime Minister hosted a private dinner for Modi, setting the tone for the official meetings scheduled for the following day.

During these meetings on Thursday, the two nations are expected to sign several Memoranda of Understanding (MoUs) aimed at enhancing bilateral cooperation in key areas identified during the India-Singapore Ministerial Roundtable held on August 26, 2024. These areas include digitization, skills development, sustainability, health, advanced manufacturing, and connectivity.

One of the focal points of this visit is the collaboration in the semiconductor sector. Singapore, despite its small size, plays a significant role in the global semiconductor industry, contributing around 10% of global semiconductor output, 5% of global wafer fabrication capacity, and 20% of semiconductor equipment production. The sector is a key driver of Singapore's economy, accounting for 8% of its economic growth. With nine out of the 15 top semiconductor firms having a presence in Singapore, this collaboration presents immense potential for both nations.

Singapore continues to be India's largest trading partner within ASEAN and ranks as the sixth-largest trade partner globally, highlighting the deep economic interdependence between the two countries. The signing of MoUs in strategic areas is expected to further solidify this partnership.

Singapore's role as a key partner in India's economic landscape is underscored by its status as the leading source of foreign direct investment (FDI) into India, with $11.77 billion invested in 2023 alone. Since 2000, Singapore has invested over $160 billion in India, making it an essential player in India's economic growth story.

On the geopolitical front, the visit is also seen as a move to bolster defence cooperation and cultural ties. PM Modi will engage with Singaporean business leaders and interact with key players in the country's semiconductor ecosystem, offering them firsthand insights into India's economic trajectory and inviting further investments.