India-Singapore 2nd Ministerial Roundtable Strengthens Ties

The 2nd India-Singapore Ministerial Roundtable (ISMR) is scheduled for August 26, 2024, in Singapore. The meeting aims to review progress since the first ISMR, identify new cooperation avenues, and discuss six pillars of cooperation.

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

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