Relations with India Post-Pandemic

During the Ministry of Foreign Affairs COS Debate this year, I made a cut-speech seeking the Minister’s assessment of Singapore’s relations with India and what we are doing to deepen India’s engagement here and in the region. In my speech, I noted an ST article dated 21 Dec 2022 in which it was predicted that India will be the world’s fastest growing economy on post-Covid spending boom. My speech may be accessed below.

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Mr Murali Pillai (Bukit Batok): Sir, in a Straits Times article dated 21 December 2022, entitled “India set to become world’s fastest-growing economy on post-COVID spending boom”, it was reported that India is expected to grow 6% in this fiscal year ending 31 March 2024.

Given this blistering pace of growth, it is imperative that Singapore does more to engage our giant Asian neighbour for mutual benefit not just between the countries but also ASEAN.

I was happy to note an initiative that Prime Minister Modi from India suggested in 2018 when he visited Singapore was made reality on 21 February 2023 when Prime Minister Lee and Prime Minister Modi both launched the PayNow-UPI Linkage that will allow for cheaper, faster and safer cross-border retail payments and remittances for businesses and individuals. This is indicative of a strong partnership between Singapore and India.

I would like to ask the hon Minister for his assessment of Singapore’s relations with India and what we are doing to deepen India’s engagement here and in the region.