Four MoUs signed during PM Narendra Modi’s 5th visit to Singapore

India and Singapore signed four Memorandum of Understanding (MoU) to deepen bilateral relationship during the visit of Prime Minister Narendra Modi to Singapore. The Prime Minister was on a two nations tour of Brunei and Singapore from 3 -5 September 2024. 

In the first leg of his tour he visited Brunei and became the first Indian Prime Minister to visit Brunei.

After Brunei visit he visited Singapore on 4th and 5th September 2024.

Prime Minister Narendra Modi was accompanied by External Affairs Minister Dr S Jaishankar.

5th Visit to Singapore by PM Modi 

This visit of the Prime Minister Modi was the 5th official visit to the country since he became the Prime Minister of India in 2014. He last visited Singapore in 2018 and after six years he is visiting the country again.

• He was received at the Changi airport of Singapore by Singapore Minister for Home Affairs and Law K. Shanmugam.
• He met the Prime Minister of Singapore Lawerence Wong at the Parliament House .
• During the meeting both the leaders discussed various bilateral,regional and global issues .
• Both agreed to elevate bilateral relations to ‘Comprehensive Strategic Partnership’ from the Strategic Partnership in order to deepen and broaden bilateral cooperation. 
• During the meeting of both the leaders four MoUs were signed between the two countries.

Four MoUs between India and  Singapore 

Before the visit of the Prime Minister Modi ,2nd India- Singapore Ministerial Roundtable (ISRM) was held in Singapore on 26 August 2024 .

The 2nd ISRM identified six pillars of cooperation between the two countries. Four out of the six pillars were converted into MoU during the PM Modi visit.

These MoUs are;

• Cooperation in the semiconductor ecosystem. It will facilitate investment by Singapore companies like AEM which is a part of the global semiconductor value chain in India . The MoU aims to  encourage Singapore  investment in India to develop semiconductor clusters and nurture talent in semiconductor design and manufacturing.
• Cooperation in digital technologies,
• Cooperation in Skill development 
• Education and in healthcare, particularly in the areas of technical and vocational education and training.

PM Modi Meeting with Singapore leaders 

During the visit to Singapore the Prime Minister also met the President of Singapore Tharman Shanmugaratnam.

He also met  Senior Minister and former Prime Minister Lee Hsien Loong and  Emeritus Senior Minister and former Prime Minister Goh Chok Tong. Both these former Singapore leaders have  played a crucial role in building and strengthening bilateral relationships.

First Thiruvalluvar Culture Center in Singapore

PM Modi announced the setting up of the firstThiruvalluvar Culture Center in the world in  Singapore, to strengthen the cultural bond between the two countries.

• During the 2024 Lok Sabha Poll the BJP had promised to set up Thiruvalluvar Culture Center all over the world. 
• Thiruvalluvar was a Tamil poet-saint and the author of the Tirukkural (“Sacred Couplets”) which has an immense influence on Tamil culture.
• India’s are the third largest ethnic population in Singapore and they constitute around nine percent of the Singapore population. Amongst the Indian’s ,majority of them are Tamils.
• Around 74 percent of Singapore's population are ethnic Chinese and the second largest ethnic group are Malays. 

Business Meeting 

Prime Minister Modi also met with a group of Singapore’s leading business community. He invited them to invest in the world's fastest growing economy.

• Singapore was India's sixth largest trading partner in 2023-24 with a share of 3.2 per cent in India’s total merchandise trade.
• Export from India to Singapore during this period was $14.4 billion while import from Singapore was $21.2 billion.
• Singapore, which is Asia’s biggest financial hub, is also the single largest source of foreign direct investment (FDI) to India in 2023-24.
• The total FDI from Singapore to India during 1st April 2004-31st March 2024 was around $ 160 billion which is one fourth of the total FDI received by India during this period.