Singapore
PM Modi Announces ‘Invest India Office’ in Singapore to Boost Investment. Prime Minister Narendra Modi has announced the establishment of an ‘Invest India Office’ in Singapore, aimed at facilitating investments from Singapore into India across a wide range of sectors. This move is part of an effort to strengthen trade ties and attract more investment from Singapore, according to the Ministry of External Affairs (MEA). The announcement came during PM Modi’s two-day visit to the island nation, where he also highlighted the “fast and unfolding opportunities” in India.
Jaideep Mazumdar, MEA Secretary East, described this as an “opportune time” for Singaporean CEOs to gain first-hand insights from the Indian Prime Minister on India’s investment potential. The Invest India Office will serve as a support hub for Singaporean investors, helping them navigate opportunities in areas such as digital technologies, semiconductors, skill development, and healthcare.
During the visit, four Memorandums of Understanding (MOUs) were exchanged between India and Singapore. These MOUs focus on cooperation in the semiconductor ecosystem, digital technologies, skill development, education, and healthcare. “These MOUs align with the six pillars of our futuristic cooperation that were identified by the India-Singapore Ministerial Roundtable,” Mazumdar explained during a special briefing.
In his meetings with Singaporean business leaders, PM Modi outlined India’s political stability, policy predictability, and reform-oriented economic agenda as key factors making the country an attractive destination for investment. He also met with the CEOs of leading Singaporean companies, many of which have substantial investments in India and are looking to expand.
Mazumdar further elaborated on PM Modi’s visit to AEM Holdings, a Singapore-based leader in the semiconductor industry. PM Modi was briefed on AEM’s global role in the semiconductor value chain and its operations in India. Given India’s push to develop its own semiconductor manufacturing ecosystem, this visit holds significant importance. Modi also invited semiconductor industry leaders to attend the upcoming Semicon India exhibition and conference in September.
The visit also marked progress in people-to-people relations, with both sides discussing ways to increase flight connectivity between India and Singapore. Additionally, PM Modi announced the opening of the first-ever Thiruvalluvar Cultural Centre in Singapore, which will promote cultural ties between the two nations.
Earlier in the day, Prime Minister Modi met with Singapore’s President, Tharman Shanmugaratnam, and attended a lunch hosted by Senior Minister Lee Hsien Loong. He also met Singapore’s Prime Minister, Lawrence Wong, at the Parliament House, where both leaders reviewed the progress of bilateral relations and discussed future cooperation.
The two sides agreed to elevate their relationship to a Comprehensive Strategic Partnership. Prime Minister Modi extended an invitation to PM Lawrence Wong to visit India, which was accepted.
The strengthening of India-Singapore relations, through both economic and cultural initiatives, highlights a shared vision for future cooperation in multiple sectors. The establishment of the Invest India Office in Singapore is expected to further deepen this strategic partnership by boosting investment flows and economic collaboration between the two countries.
