India, Singapore Agree To Review Trade Pacts, Expand Cooperation In Advanced Manufacturing, Nuclear Energy

2025-09-08 04:05:55

(MENAFN- KNN India) New Delhi, Sep 8 (KNN) After wide-ranging talks in New Delhi on Thursday, Prime Minister Modi and Singapore Prime Minister Lawrence Wong unveiled a comprehensive roadmap to deepen cooperation in traditional and emerging sectors.

Addressing a joint press conference, Modi said the two sides had agreed to review the bilateral Comprehensive Economic Cooperation Agreement and India's ASEAN free trade pact in a time-bound manner to accelerate trade.

He noted that future collaboration would extend into advanced manufacturing, green shipping, civil nuclear energy, skilling, and urban water management.

Highlighting innovation as a key pillar, Modi announced joint work in artificial intelligence, quantum computing and other digital technologies. Singapore, he said, would help establish a National Centre of Excellence for Skilling in Chennai focused on advanced manufacturing.

Wong described the partnership as especially significant amid global uncertainty.“This is a partnership rooted in shared values, mutual respect and a deep reservoir of trust,” he said.

He confirmed Singapore's role as a global partner for the Chennai skilling centre and noted that Singaporean institutions would also support state-level centres in sectors including aviation, maintenance, and semiconductors.

The Singapore Prime Minister pointed to the potential of GIFT City as a financial hub linking Indian markets with global investors and reaffirmed his country's commitment to strengthening cooperation in semiconductors through R&D, supply chains, and logistics.

He added that Singaporean companies were keen to develop sustainable industrial parks in India to support its manufacturing goals.
On maritime cooperation, India and Singapore signed an agreement on Green and Digital Shipping Corridors to strengthen green fuel supply and port digitisation.

Modi also welcomed the inauguration of Phase II of the Bharat Mumbai Container Terminal, developed by Singapore's PSA International, calling it a boost to port capacity.

Modi further announced that 13 Indian banks have joined the UPI–PayNow cross-border payment system, enhancing financial connectivity.

(KNN Bureau)

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