BUSINESS
The 2nd India-Singapore Ministerial Roundtable (ISMR), held on August 26, 2024, in Singapore, focused on reviewing the progress made under their strategic partnership and exploring new avenues for cooperation. This ISMR marked a pivotal moment in the bilateral relationship between the two countries. Reviewing Strategic Progress During the discussions, both sides reviewed the progress made since the inaugural ISMR in September 2022 in New Delhi. They assessed developments in key areas such as Digitalization, Skills Development, Sustainability, and Healthcare & Medicine. These pillars have been instrumental in guiding the collaboration between India and Singapore, driving forward initiatives that benefit both countries. Expanding the Scope of Cooperation A significant outcome of this roundtable was the decision to expand the partnership by adding two new pillars: Advanced Manufacturing and Connectivity. The inclusion of Advanced Manufacturing reflects the growing industrial collaboration between the two nations, aiming to enhance technological innovation and production efficiency. The focus on Connectivity is intended to improve infrastructure links, facilitating trade, investment, and the movement of people between India and Singapore. These new areas of cooperation are set to deepen the strategic relationship, allowing both nations to address emerging challenges and capitalize on new opportunities in the global economy . The expansion also underscores the dynamic nature of the India-Singapore partnership, which continues to evolve in response to global trends. Delegates The Indian delegation, had External Affairs Minister S Jaishankar, Finance Minister Nirmala Sitharaman, Commerce and Industry Minister Piyush Goyal, and Railways Minister Ashwini Vaishnaw. The Singaporean team included Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong, Foreign Affairs Minister Dr. Vivian Balakrishnan, and other senior ministers, highlighting the importance both nations place on their partnership. High-Level Engagements and Future Directions In addition to the roundtable discussions, the Indian ministers met with Singapore’s top leadership, including President Tharman Shanmugaratnam and Prime Minister Lawrence Wong. These meetings reinforced the importance of the bilateral relationship, emphasizing the shared commitment to further strengthening ties across various sectors. The ministers agreed to hold the next round of ISMR in India, demonstrating the ongoing commitment to maintaining this high-level dialogue. This decision ensures that the momentum generated by the current roundtable will continue, driving forward the strategic partnership between India and Singapore. Significance of the Meeting The 2nd India-Singapore Ministerial Roundtable was a crucial step in reinforcing the strong bilateral ties between the two nations. By expanding the scope of cooperation and engaging in high-level discussions, both India and Singapore have demonstrated their commitment to a dynamic and evolving partnership. The outcomes of this meeting not only reaffirm the strategic importance of their relationship but also set the stage for future collaborations that will benefit both countries and contribute to regional stability and prosperity. None
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