India-Singapore CEO Forum- Key Highlights

India – Singapore CEO Forum, that was launched in November 2018, again held their meeting. The meeting was organized by the Department for Promotion of Industry and Internal Trade (DPIIT) and FICCI on February 18, 2021.

Highlights

  • During the meeting, Commerce & Industry Minister Piyush Goyal has stated that, both the countries can work together in the arena of e-commerce, smart manufacturing, fintech and healthcare.
  • In these areas, the countries offer a large market.
  • The minister further said that if the countries will work together in these areas, it will transform India’s own effort to give best to the people.
  • Members of India- Singapore CEO Forum have also agreed to work for resolving the regulatory issues and processes that is affecting the bilateral trade and investment relations of the countries.
  • The Minister also highlighted that, India is looking to expand its ties with Singapore on the basis of three B’s namely, Buddhism, Bollywood and Business.
  • The Minister-in-charge of Trade Relations of Singapore, S Iswaran, also emphasized for the greater engagement between businesses from both the countries.
  • He also emphasized on 3 D’s namely, Development, Diversification and Digital Economy. These 3 D’s would help in building a partnership which in turn will benefit both the countries.

India-Singapore Relation

Both the countries work together in the fields of cyber security, disaster relief, education and skill development. These are the pillars where India can learn from Singapore. This partnership will also help India to become Aatmanirbhar. It will provide opportunities to India in order to increase its global footprint. India had recognized Singapore as an important member of the ASEAN grouping.  Singapore is also the largest trade partner of India among the ASEAN countries. Singapore exchange has also partnered with the GIFT city which is India’s first operational smart city.

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