Singapore & India Boost Ties in Tech and Green Sectors

Singapore and India are set to announce a Comprehensive Strategic Partnership (CSP) road map today to enhance cooperation in high-growth areas such as semiconductors, AI, green energy, digital connectivity, and cross-border finance.

Prime Minister Lawrence Wong, who made his first official trip to India as Prime Minister, stated that the road map for the CSP will "chart a clear direction and vision for the next stage of our bilateral relationship," particularly in advanced manufacturing and technology-based sectors.

"This is not just in name, but in substance," PM Wong said in an interview with the Hindustan Times, highlighting that the relationship is one of concrete action and outcomes.

Key highlights:

• Singapore and India to unveil Comprehensive Strategic Partnership (CSP) road map, focusing on high-growth sectors like semiconductors, AI, green energy, digital connectivity, and cross-border finance
• New agreements include easing semiconductor supply chain logistics and establishing a joint training centre in Gujarat, positioning India as a key partner in building a resilient tech ecosystem
• Singapore remains India’s top foreign investor, contributing around 25 percent of total FDI equity inflows, with both countries aiming to deepen digital and financial integration

India and Singapore have already entered into agreements to simplify semiconductor supply chain logistics and co-develop a training facility in Gujarat. "We view India as an important partner in making the semiconductor supply chain more diversified and resilient," Wong stated.

Singapore, India's largest foreign investor after 2000, accounts for approximately 25 percent of FDI equity inflows into India. The two countries are also looking into data flow architectures and integration of digital finance to enable business scalability.

"There's huge potential to enhance our financial and digital connectivity," Wong said after discussions with Indian Finance Minister Nirmala Sitharaman.

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Businessmen and businesswomen from both countries got together at the Confederation of Indian Industry on Sept 3, with PM Wong describing the exchange as "productive" and centered on "win-win opportunities."

"As Asia navigates global uncertainty, this tie gives us much-needed stability and co-growth," Wong stated.