India and Singapore are set to finalize 10 major agreements this week, encompassing clean energy, data connectivity, skill development, and technological cooperation. Discussions will also include undersea cables and green hydrogen projects.
India - Singapore Relations: India and Singapore are preparing to finalize approximately 10 significant Memorandums of Understanding (MoUs) this week, aiming to elevate their bilateral relations to new heights. These MoUs will cover cooperation in areas such as advanced technology, connectivity, skill development, digitalization, and clean energy. The initiative seeks to boost trade, investment, and technological exchange between the two nations.
Third India-Singapore Ministerial Roundtable
According to the Ministry of External Affairs, the third edition of the India-Singapore Ministerial Roundtable (ISMR) is scheduled to take place in New Delhi on August 13th. At this high-level meeting, Indian External Affairs Minister S. Jaishankar, Commerce Minister Piyush Goyal, Finance Minister Nirmala Sitharaman, and Electronics and Information Technology Minister Ashwini Vaishnaw will engage in discussions with six ministers from Singapore.
Undersea Cables for Solar Energy and Data Connectivity
One of the most ambitious proposals under consideration is the plan to lay an undersea cable from India to Singapore. This cable is intended to not only transmit solar energy but also serve as a crucial medium for data connectivity. This will promote both energy cooperation and digital connectivity, representing a significant step for both countries' economies.
Export of Green Ammonia and Green Hydrogen
India is also working on a plan to export green ammonia and green hydrogen to Singapore. This initiative promotes clean energy and demonstrates a global commitment to addressing climate change. These projects will help meet Singapore's energy needs sustainably and give India's clean energy sector international recognition.
New Collaboration in Skill Development
The two countries will discuss agreements related to skill development in sectors such as aviation, semiconductors, and advanced manufacturing. According to sources, a new scheme will provide skill development training to approximately 100,000 Indians each year. This initiative will help make India's youth globally competitive and provide skills that align with industry needs.
Promoting Trade and Investment
Singapore is India's largest trading partner in the ASEAN region and a major source of Foreign Direct Investment (FDI). The upcoming meeting will also focus on ways to encourage Singaporean companies to increase investment in India and strengthen trade relations. During Prime Minister Narendra Modi's visit to Singapore last September, the relationship between the two countries was elevated to a Comprehensive Strategic Partnership, opening up new avenues for collaboration.
Discussion on US Tariff Policy
The meeting may also involve deliberations on Washington's tariff policy and its impact on global trade. The two countries might strategize on how to safeguard their trade interests amidst US tariff policies.
ISMR Journey So Far
The first ISMR meeting took place in New Delhi on September 17, 2022, with the participation of four senior ministers from Singapore. The second meeting was held in Singapore on August 26, 2024. The third meeting will add new areas of cooperation and further deepen existing partnerships.
