Singapore, India deepen partnership on manufacturing, connectivity, and space

The two countries celebrate 60 years of diplomatic ties.

Singapore and India will expand cooperation in manufacturing and industrial development, said Prime Minister Lawrence Wong in a joint press conference with Indian Prime Minister Narendra Modi. Wong was on a working visit to New Delhi, India.

One area in focus by the two countries is the semiconductor industry.

“Singapore companies are keen to develop sustainable industrial parks in India to support India’s manufacturing ambitions,” Wong said.

“At the same time, we will deepen collaboration in semiconductors, not just in skills training, but also in R&D, supply chains, and logistics, and these efforts will generate new growth opportunities for both our countries,” Wong added.

Singapore and India celebrate 60 years of diplomatic ties and close friendship. According to Wong, Singapore is the largest foreign investor in India, accounting for around a quarter of India's foreign direct investment inflows. The cooperation between the two countries now spans a wide and diverse range of fields.

Aside from the manufacturing sector, Wong said that Singapore and India will strengthen connectivity across the air, sea and digital domains.

“We exchanged an MOU on cooperation in training, research and development in civil aviation. This will support the growth of our aviation sectors, facilitate trade and tourism and create more commercial opportunities,” Wong said.

Beyond physical links, the two countries are also enhancing digital connectivity between their financial systems.

“Our central banks have exchanged an MOU on digital asset innovation, and we are discussing ways to further enhance cross-border data flows and capital market linkages, including through regulatory sandboxes that would allow us to test-bed innovations,” Wong said.

Expansion in cooperation in the space sector also remains on the agenda of the two countries.

“To date, more than 20 Singapore-made satellites have been launched by India. Through the MOU on promoting collaboration in the space sector, we will broaden this partnership and push the boundaries of what we can achieve together,” Wong said.