A Strategic Partnership in a Changing World

As the world faces unprecedented challenges, Singapore's Prime Minister Lawrence Wong emphasizes the urgent need for India and Singapore to deepen their strategic partnership. In an insightful interview with the Hindustan Times, Wong stressed that the two nations must 'double down' on their critical ties.

Wong highlighted how Singapore can effectively collaborate with like-minded nations by fostering closer links through a rules-based trading framework. This approach aims to unite their economies for mutually beneficial outcomes, built upon a foundation of 60 years of friendship and trust.

Concrete Actions Over Rhetoric

During his inaugural visit to India as Prime Minister, Wong affirmed that the cooperation between the two countries transcends mere words, rooted in substantial action and tangible results. He pointed out the 'unique' format of the India-Singapore Ministerial Roundtable (ISMR), a bilateral mechanism that strengthens ties from a comprehensive strategic perspective.

Reflecting on the inception of the ISMR while Singapore was undergoing a leadership transition, Wong sought to inject fresh energy into their bilateral relationship. He recognized that although landmark agreements like the Comprehensive Economic Cooperation Agreement (CECA) have set the stage, there was a pressing need for renewed momentum.

The Roadmap Ahead

The Third ISMR, held recently in August, was led by Deputy Prime Minister Gan Kim Yong and continued to yield innovative ideas. As PM Wong prepares for a meeting with Prime Minister Modi in New Delhi, both leaders are set to unveil a detailed roadmap aimed at elevating their Comprehensive Strategic Partnership.

Wong characterized this roadmap as 'ambitious,' elucidating how both nations will diversify cooperation across various sectors.

Semiconductor Synergy

One critical area of cooperation discussed was semiconductors, a topic raised by PM Modi during his September 2024 visit to Singapore. Both nations have signed an MOU and progressed in key areas: establishing a 'green lane' for semiconductor exchanges, skills development initiatives potentially in Gujarat, and joint research and innovation efforts.

Wong expressed Singapore's vested interest in these collaborations as part of its commitment to a resilient and diversified supply chain while highlighting India’s significant role in this vision.

Leveraging Data, Green Energy, and Food Security

The two countries are also eyeing seamless cross-border data exchanges, with plans for a pilot data corridor. Wong noted the foundational importance of data across various sectors, including finance and AI.

Additionally, Singapore is looking to work with India on green energy solutions, from low-carbon hydrogen to carbon capture technologies, alongside discussions on enhancing trade in food products to bolster food safety and security.

Long-standing Confidence in India’s Growth

Wong asserted Singapore's longstanding belief in India's potential, highlighting its status as India's top foreign investor, contributing significantly to its foreign direct investment landscape. He pointed out the steady growth in bilateral trade since the CECA came into force, emphasizing that Singapore's faith in India is built on both historical precedence and proven track records.

Navigating Trade Agreements and Regional Dynamics

In response to questions about a pending trade pact review between India and ASEAN, Wong expressed hope for collaborative flexibility to ensure the continuation of robust trade relations. He noted the shifting economic landscape towards Asia, reiterating the strategic necessity for closer ASEAN-India ties.

As ASEAN joins India and China as growth drivers on the continent, Wong reinforced Singapore's commitment to facilitating stronger connections between India and ASEAN, heralding a new era of cooperation in the region.