In a significant showcase of cooperation, the Third India-Singapore Ministerial Roundtable (ISMR) was held on Wednesday, 13 August in New Delhi. The meeting saw a productive discussion of six key areas for cross-border economic cooperation, including advanced manufacturing, connectivity, digitalisation, healthcare and medicine, skills development, and sustainability.
The Singaporean delegation was comprised of six acting ministers, led by Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong, and included National Security and Home Affairs Minister K Shanmugam, Foreign Minister Vivian Balakrishnan, Digital Development and Information Minister Josephine Teo, Minister for Manpower Tan See Leng and Acting Minister for Transport Jeffrey Siow.
India’s External Affairs Minister Mr. S Jaishankar, Commerce Minister Mr. Piyush Goyal, Finance Minister Mrs. Nirmala Sitharaman and Electronics and Information Technology Minister Ashwini Vaishnaw welcomed the Singaporean delegation to New Delhi.
The Third ISMR follows in the footsteps of two previously productive meetings in 2022 and 2024 respectively. As the Second ISMR in 2024 was held shortly before a state visit from Indian Prime Minister Narendra Modi, the Third ISMR will precede an official state visit from Singapore Prime Minister Lawrence Wong next month to mark 60 years of diplomatic relations between the two nations.
Greater economic cooperation between both nations has proven to be a far-sighted partnership, as increasing geopolitical uncertainties and supply chain vulnerabilities are among the most pressing concerns for both India and Singapore.
As DPM Gan said in an interview with CNA, the aim of the ISMR is to “explore opportunities and possibilities of expanding and extending our supply chains so as to make sure that our supply chains are more resilient, more robust and less susceptible to destruction”.
Ambitious proposals and agreements were made at the ISMR, particularly with regard to semiconductors and green energy. Both nations have set the mutual aim to create a green shipping corridor.
Additionally, an ambitious and exciting proposal has been made to lay an undersea cable between the two nations that would be able to carry solar energy.
Expectations are high, given that previous roundtables have achieved short-term successes within just a few years.
In addition to his attendance at the Third ISMR, DPM Gan visited CapitaLand Investment’s first data centre in Navi Mumbai and PSA’s port expansion operations at Bharat Mumbai Container Terminal, two major Singaporean investments in Maharashtra. CapitaLand Investment further stated its aim to increase its funds other management from SGD$8 billion to SGD$15 billion by 2028.
Aside from economic cooperation, India and Singapore have also agreed to further diplomatic partnership, with Singapore serving as a gateway for further Indo-ASEAN dialogue on decision-making and security architecture.
The Singaporean ministers also called Indian President Droupadi Murmu to reaffirm a continuation of strong bilateral ties after 60 years of fruitful diplomatic cooperation between the two states.
