India-Singapore 2nd Ministerial Roundtable Strengthens Ties

Overview of the 2nd India-Singapore Ministerial Roundtable (ISMR)

• 2nd India-Singapore Ministerial Roundtable scheduled for August 26, 2024, in Singapore
• High-level platform to discuss and set future agendas for bilateral relationships
• Indian delegation includes Ministers Nirmala Sitharaman, S. Jaishankar, Piyush Goyal, and Ashwini Vaishnaw
• Singapore delegation led by Deputy Prime Minister Gan Kim Yong, along with five other ministers
• Follows the inaugural meeting held in New Delhi in September 2022

Key Focus Areas and Objectives

• Review progress since the first ISMR and identify new avenues for cooperation
• Explore strategies to bolster bilateral trade and investment
• Discuss plans for commemorating the 60th anniversary of diplomatic relations
• Address regional and global cooperation, including ASEAN & G20 developments

Six pillars of cooperation:

a) Digitalisation

b) Skill Development

c) Sustainability

d) Healthcare and Medicine

e) Advanced Manufacturing

f) Connectivity

Economic Ties and Bilateral Relationships

• Singapore: Largest source of FDI for India in 2023-24 with $11.77 billion inflows
• Cumulative FDI from Singapore (April 2000 to March 2024): $159.94 billion
• Singapore: 6th largest global trade partner of India in 2023-24
• Bilateral trade in 2023-24: $35.61 billion (29% of India's total trade with ASEAN)
• Indian exports to Singapore: $14.41 billion; Imports: $21.2 billion
• Successful conclusion of MoUs on healthcare, education, skill development, digital cooperation, and semiconductor ecosystem cooperation after the first ISMR