"Partnership rooted in shared values, mutual respect and trust": Singapore PM Wong on India ties

New Delhi [India], September 4 (ANI): Singapore Prime Minister Lawrence Wong on Thursday highlighted the significance of the India-Singapore partnership in the current global context while addressing a joint press conference at Hyderabad House in the national capital.

"In a world marked by great uncertainty and turbulence, the partnership between India and Singapore becomes even more important because this is a partnership rooted in shared values, mutual respect and a deep reservoir of trust," Wong said.

He emphasized the strength of the bilateral relationship, adding, "We can draw strength from our shared history and the friendship and trust between our peoples and together we can strengthen resilience, seize new opportunities and contribute to stability and growth in our region and beyond."

Wong expressed optimism about future cooperation, stating, "I look forward to working hand in hand with Prime Minister Modi to bring the Singapore-India partnership to even greater heights in the years ahead."

The Singaporean Prime Minister also reaffirmed Singapore's commitment to supporting India's skill development initiatives and collaborating on advanced manufacturing projects.

Notably, this includes establishing a National Centre of Excellence for Skilling in Chennai, with Singaporean institutions providing consultancy services and undertaking turn-key projects.

"Singapore will continue to support India's skill development journey. We are honoured to accept India's invitation to be a global partner for the National Centre of Excellence in Chennai, which will focus on advanced manufacturing. We will also collaborate with India to set up state-level skill centres to meet industry needs in sectors like aviation, maintenance, repair and overhaul, and semiconductors," Wong said.

He further highlighted GIFT City in Gujarat as a significant hub for financial services, bridging India's stock markets with global investors. The NSE International Exchange (NSE IX) in GIFT City now hosts the GIFT Nifty, a futures contract based on the Nifty 50 index, previously known as the SGX Nifty and traded on the Singapore Exchange (SGX). This development enables increased accessibility through extended trading hours and tax benefits.

The partnership between India and Singapore also focuses on advanced manufacturing, with the Chennai centre aimed at developing skills in areas like semiconductor manufacturing to enhance India's competitiveness in the global market.

"GIFT City in Gujarat has become another new bridge to connect our stock markets. The Semiconductor Ecosystem Partnership Agreement, signed last year, has also given a new direction to research and development. The active participation of Singapore companies in the Semicon India Conference was a big thing in itself. Singapore will help in setting up a National Centre of Excellence for Skilling in Chennai. This centre will prepare skilled manpower in the field of advanced manufacturing," said Wong.

He highlighted plans to further expand cooperation in manufacturing and industrial development, building on broader bilateral engagement discussed during the talks.

"We will expand cooperation in manufacturing and industrial development. Singapore companies are keen to develop sustainable industrial parks in India to support India's manufacturing ambitions. 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.

Wong also spoke about enhancing connectivity across multiple domains as part of the growing partnership. "We will strengthen connectivity across the air, sea and digital domains. This morning, 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," he said.

On maritime cooperation, Wong highlighted infrastructure development, linking it to India's trade and logistics ambitions. "On the maritime side, we just launched phase two of PSA's Bharat Mumbai Container Terminal in Navi Mumbai, which will become India's largest standalone container terminal," he said.

The two leaders also jointly inaugurated the JN Port PSA Mumbai Terminal (BMCT) Phase-II in the presence of officials from both countries.

Several Memorandums of Understanding (MoUs) were also signed between India and Singapore during the event, with both Prime Minister Modi and Singaporean counterpart Lawrence Wong in attendance, reflecting the broad range of bilateral collaboration.

The Singaporean PM arrived in New Delhi on Tuesday for a three-day official visit. (ANI)

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