India-Singapore strategic partnership

    0
    505

    In News

    • Recently, Singapore Minister in PMO was on a 2-day visit to India 

    More about the visit

    • The strategic partnership:
      • The strategic partnership between India and Singapore has shown its resilience and both sides look forward to further strengthening this important relationship in areas like trade, defence, science and innovation, education, governance and the digital economy.
    • The upcoming collaborations:
      • India and Singapore are closely collaborating in cutting-edge areas that will shape the future.
        • The two countries are collaborating in fintech, information technology, cyber security, skill development, smart city solutions, renewable energy and food security.
    • Other areas of association:
      • Both sides also discussed establishing the Exchange Program of Civil Services and the PM Excellence Award to Singaporean Institutes of Excellence. 
      • The Future of Work, Workforce and Workplace of Singapore has agreed to work closely with the Vision India-2047.

    India and Singapore Relations

    • Cultural relations:
      • Relations between the two countries have traditionally been strong and friendly, with the two nations enjoying extensive cultural and commercial relations.
    • Economic partnership:
      • Comprehensive Economic Cooperation Agreement (CECA):
        • India and Singapore have signed the Comprehensive Economic Cooperation Agreement (CECA) in order to increase trade, investments and economic cooperation, and expanded bilateral cooperation on maritime security, training forces, and joint naval exercises, developing military technology and fighting terrorism.
      • Strategic Partnership:
        • This robust relationship was elevated to a Strategic Partnership in 2015 during the visit of Prime Minister Modi and on the occasion of the 50th anniversary of the establishment of diplomatic relations
      • Investment partner:
        • Singapore is among India’s largest trade and investment partners in ASEAN and accounted for 22.13 % of our overall trade with ASEAN in 2014-15.
        • FDI:
          • Singapore has emerged as the top source nation in terms of foreign direct investment (FDI) equity flows into India for the financial year 2021-22. 
          • The amount of FDI inflow from Singapore to India in fiscal year 2022 was estimated to be almost 16 billion U.S. dollars.
    • Diplomatic relations:
      • India and Singapore are part of numerous groupings like G20, Commonwealth, IORA (Indian Ocean Rim Association), East Asia Summit, and IONS (Indian Ocean Naval Symposium.
        • Singapore supported India’s bid to become a permanent member of the U.N. Security Council and expand its role and influence in the Association of Southeast Asian Nations (ASEAN).
      • Singapore also supported India in its war against Pakistan in 1965 and the Kashmir conflict.
    • Military cooperation:
      • SIMBEX:
        • India and Singapore began their annual naval combat exercise, now called “SIMBEX” Several warships from India and Singapore took part in this interoperable combat exercise.
      • Defence Cooperation Agreement:
        • India and Singapore signed a Defence Cooperation Agreement, allowing the Singapore army and air force to conduct training on Indian soil.
      • Naval Cooperation:
        • India-Singapore Bilateral Agreement for Navy Cooperation was signed which gave Indian Navy ships access to Singapore’s Changi Naval Base near the disputed South China Sea, mutual logistical support and refuelling rights at the port.
      • India and Singapore signed the agreement for the “strategic relationship” across the board including defence and military, security and intelligence cooperation, political exchanges, enhancing trade and investment, improving financial linkages, improving air connectivity and cooperation in multilateral forums.
    • Smart cities:
      • Singaporean companies continue to participate in a number of smart city, urban planning, logistics and infrastructure projects. 
      • Singapore is working with Rajasthan, Himachal Pradesh and Maharashtra in preparing Master Plans for townships.
    • Skill development:
      • Singapore is working with the Central and State Governments as well as Government organisations to establish skill development centres in various sectors. 

    India’s “Act East Asia” Policy

    • Announced in November 2014 is a diplomatic initiative to promote economic, strategic and cultural relations with the vast Asia-Pacific region at different levels.
    • It involves intensive engagement with Southeast Asian countries in the fields of: 
      • Connectivity, trade, culture, defence and people-to-people-contact at bilateral, regional and multilateral levels.

    Association of Southeast Asian Nations (ASEAN) 

    • It is a political and economic organization aimed primarily at promoting economic growth and regional stability among its members.
    • It was founded in 1967 by the five South-East Asian nations of Indonesia, Malaysia, the Philippines, Singapore and Thailand.
      • Brunei Darussalam joined in 1984, Vietnam in 1995, Lao PDR and Myanmar in 1997, and Cambodia in 1999, making up to ten Member States of ASEAN.
    • ASEAN Summit is the highest policy-making body in ASEAN comprising the Head of States or Government of ASEAN Member States.
      • Summit is held twice annually.
      • The First ASEAN Summit was held in Bali, Indonesia in 1976.

    RELATED ARTICLESMORE FROM AUTHOR