Modi stresses re­forms in Sin­ga­pore in­vest­ment push

Kuwait Times - - INTERNATIONAL -

SIN­GA­PORE: In a plea for Sin­ga­pore in­vest­ments, In­dian Prime Min­is­ter Naren­dra Modi stressed yes­ter­day that re­forms have been made un­der his watch, as the two coun­tries el­e­vated their re­la­tions to a strate­gic part­ner­ship. The re­forms, par­tic­u­larly eco­nomic, have “suc­cess­fully re­stored the cred­i­bil­ity of In­dia in the eyes of global play­ers,” Modi told Sin­ga­porean and In­dian busi­ness­peo­ple from more than 300 com­pa­nies at an eco­nomic con­ven­tion.

Sin­ga­pore is the sec­ond-largest source of direct for­eign in­vest­ment in In­dia, he said. The city-state was also in­volved in the plan­ning of Amar­a­vati, the new cap­i­tal city of the In­dian state of Andhra Pradesh. “In the last 18 months, re­forms are hap­pen­ing in a big way. Sim­ply, with the aim of en­abling the peo­ple to re­al­ize their po­ten­tial and dreams,” Modi said.

“I am here to in­vite you to In­dia in a big­ger way. I also come to en­sure you that I’m there to care­fully hold your hands. You are an ex­cit­ing in­cu­ba­tor, In­dia is a vast lab­o­ra­tory.”

Modi’s two-day visit to the is­land na­tion, ar­ranged to mark 50 years of diplo­matic re­la­tions, was to draw to a close later yes­ter­day af­ter a com­mu­nity event with In­dian ex­pa­tri­ates. Ac­cord­ing to In­dia’s Min­istry of Ex­ter­nal Af­fairs, trade be­tween the two coun­tries to­taled $17.1 bil­lion in the 2014-2015 fis­cal year. Sin­ga­pore is In­dia’s 10th-largest trad­ing part­ner, while In­dia is Sin­ga­pore’s 12th-largest part­ner, of­fi­cial sta­tis­tics show.

Dur­ing Modi’s visit the two coun­tries signed a mem­o­ran­dum of un­der­stand­ing that “el­e­vates our bi­lat­eral re­la­tions to a new level,” said S. Iswaran, Sin­ga­pore’s min­is­ter for trade and in­dus­try.

“While gov­ern­ment lead­ers and of­fi­cials on both sides will do their part, much will also de­pend on our busi­ness lead­ers and in­vestors boldly seiz­ing op­por­tu­ni­ties in In­dia, Sin­ga­pore and third-coun­try mar­kets,” he said. — AFP

SIN­GA­PORE: In­dia’s Prime Min­is­ter Naren­dra Modi (third left) tours the train­ing cen­tre dur­ing his visit to the In­sti­tute of Tech­ni­cal Ed­u­ca­tion (ITE) Col­lege Cen­tral in Sin­ga­pore yes­ter­day. Modi is on a two-day of­fi­cial visit to Sin­ga­pore. — AFP

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