Singapore City [Singapore], August 12 (ANI): The third India-Singapore Ministerial Roundtable (ISMR) will be held in New Delhi on August 13, marking an important ministerial-level platform to drive cooperation in new and emerging areas between the two countries, according to an official statement by the Ministry of Foreign Affairs (MFA) in Singapore.

The third ISMR will review the progress made since the second roundtable held in Singapore in August 2024 and identify new growth opportunities to deepen bilateral collaboration, the statement added.

Leading the Singapore delegation is Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong.

The delegation also includes Coordinating Minister for National Security and Minister for Home Affairs K Shanmugam, Minister for Foreign Affairs Vivian Balakrishnan, Minister for Digital Development and Information Josephine Teo, Minister for Manpower and Minister-in-charge of Energy and Science and Technology Tan See Leng, and Acting Minister for Transport and Senior Minister of State for Finance Jeffrey Siow.

The Indian delegation comprises Minister of Finance and Corporate Affairs Nirmala Sitharaman, Minister of External Affairs S Jaishankar, Minister of Commerce and Industry Piyush Goyal, and Minister of Electronics and Information Technology, Railways, and Information and Broadcasting Ashwini Vaishnaw.

This roundtable continues the momentum of high-level visits and exchanges between India and Singapore, coinciding with the 60th anniversary of diplomatic relations in 2025. The milestone reflects the importance both nations place on their bilateral ties and joint commitment to expand collaboration for mutual benefit, the statement said.

Singapore-India relations are deep and broad-based, with 2025 marking the 10th anniversary of the Strategic Partnership. Earlier this year, Singapore President Tharman Shanmugaratnam visited India, meeting President Droupadi Murmu and Prime Minister Narendra Modi. In September 2024, Prime Minister Modi visited Singapore, engaging with Singapore's President, Prime Minister, and other leaders.

During that visit, both countries agreed to elevate their relations to a Comprehensive Strategic Partnership, reflecting growing ties.

Economic cooperation remains a key pillar, anchored by the Comprehensive Economic Cooperation Agreement (CECA) signed in 2005. Bilateral trade has grown from S$20 billion in 2005 to S$52.2 billion in 2023.

Singapore is India's top foreign investor, accounting for 24 per cent of India's FDI equity inflows since 2000. Indian investments in Singapore have also grown from S$481 million in 2004 to about S$31.6 billion in 2023.

Singapore companies are actively investing in India's sectors such as manufacturing, sustainability, data centres, and technology innovation. Singapore also serves as the regional hub for many Indian start-ups, especially in fintech and healthtech.

On sustainability, both nations collaborate on next-generation industrial parks promoting economic growth and low-carbon development, including a jointly developed Framework for 'Net Zero Industrial Parks' with Tamil Nadu, launched in June 2025.

In digitalisation, the Monetary Authority of Singapore and the Reserve Bank of India launched a real-time payments linkage between PayNow and India's Unified Payments Interface (UPI) in February 2023, enabling instant fund transfers.

Capital market cooperation advanced through the NSE-SGX GIFT Connect, a derivatives trading linkage established in Gujarat International Finance Tec-City, the first of its kind between Singapore and India. Plans are underway to explore cross-border data flows via a pilot corridor in GIFT City.

Cybersecurity collaboration is also growing, highlighted by the first India-Singapore Cyber Policy Dialogue in October 2024, where agencies exchanged views on national cyber strategies and cooperation.

Skills development remains a focus, with Singapore's Institute of Technical Education Services (ITEES) setting up five skills centres in India and expanding partnerships with Odisha and Assam to enhance training in semiconductors, aerospace, AI, and capacity-building programmes.

A Joint Flagship Programme for Skills Training is being established to target sectors of mutual strategic interest, ensuring alignment with industry needs through private sector collaboration.

In advanced manufacturing, cooperation in semiconductor manufacturing is strengthening. The India-Singapore Semiconductor Ecosystem Partnership MOU, signed during Prime Minister Modi's 2024 visit, promotes policy exchanges on ecosystem development, supply chain resilience, and workforce growth.

Connectivity between the two nations is robust, with Singapore's PSA operating four maritime terminals in India for over 25 years. Singapore Airlines owns a 25.1% stake in Air India, and SIA Engineering plans collaboration to develop maintenance, repair, and overhaul facilities supporting Air India's expanding fleet.

Additionally, both countries aim to establish a Green and Digital Shipping Corridor to facilitate sustainable shipping and the trading of green fuels.

Together, the third India-Singapore Ministerial Roundtable will reinforce their strategic partnership and advance cooperation across diverse sectors to strengthen mutual growth and prosperity. (ANI)