During his inaugural state visit to India in January 2025, Singaporean President Tharman Shanmugaratnam emphasized the need for Singapore to strengthen its engagement with ASEAN nations, India, and China.
Highlighting the strategic importance of such collaborations, he remarked that these partnerships are vital for Singapore’s long-term prosperity and its contributions to Asia’s growth, sustainability, and stability.
President Tharman’s visit coincided with the 60th anniversary of diplomatic relations between Singapore and India, marking a milestone in their Comprehensive Strategic Partnership.
In New Delhi, the President was accorded a ceremonial welcome at Rashtrapati Bhavan, followed by key discussions with Indian President Droupadi Murmu and Prime Minister Narendra Modi.
These meetings focused on enhancing bilateral cooperation, especially in emerging sectors such as advanced manufacturing, semiconductor technology, and next-generation industrial parks.
The leaders also explored opportunities to collaborate on renewable energy and smart city development.
On January 17 and 18, President Tharman travelled to Odisha, a state gaining prominence as a hub for economic development and cultural heritage in India. There, he explored avenues for collaboration in skills development, economic growth, and urban infrastructure.
A significant outcome of this visit was the signing of eight Memoranda of Understanding between Singapore and the Odisha government. These agreements span various sectors, including education, technology, tourism, and logistics, showcasing a shared commitment to fostering sustainable development.
These MoUs build on the Comprehensive Economic Cooperation Agreement signed in 2005, which resulted in significantly boosted trade and investment between the two countries over the past two decades.
The CECA includes provisions for a free trade agreement in goods, trade in services, investment protection, and mutual recognition agreements on standards and technical regulations.
In recent years, there has been a surge in bilateral trade between the two nations, whereby in FY 2022-23, trade between India and Singapore reached USD 35.6 billion, marking an impressive growth rate of 18.2%.
Singapore also continues to be the largest source of FDI into India, with cumulative FDI inflows reaching USD 159.94 billion from April 2000 to March 2024. In 2023-24 alone, FDI equity inflows from Singapore to India amounted to USD 11.77 billion.
During this most recent visit, President Tharman also touched on cultural appreciation and affirmed the value of Singapore’s diverse relationship with India, underscoring that it extends beyond the historical ties of individuals of Indian origin living in Singapore.
He encouraged non-Indian Singaporeans to deepen their engagement with India, both professionally and culturally, highlighting the benefits of embracing its diversity, opportunities, and heritage.
He noted that such exchanges not only create economic opportunities but also expand worldviews and promote mutual understanding.
“There are many examples of non-Indian Singaporeans who are spending time in India and finding it deeply enriching,” says President Tharman .
He added that such efforts contribute to stronger people-to-people connections and ensure a broader appreciation of India’s potential as a global player.