NEW DELHI: NEW DELHI: Prime Minister Narendra Modi interacted with a group of leading Singaporean CEOs from diverse sectors including investment funds, infrastructure, manufacturing, energy, sustainability and logistics. Deputy Prime Minister Gan Kim Yong and Minister for Home Affairs and law K Shanmugam of Singapore participated in the event.

Appreciating their investment footprint in India, Prime Minister acknowledged the role played by the Singaporean industry leaders in strengthening bilateral relations and promoting economic cooperation between India and Singapore. To further facilitate their collaboration with India, Prime Minister announced the setting up of an INVEST INDIA office in Singapore. He further added that the elevation of India-Singapore ties to a Comprehensive Strategic Partnership would give a major thrust to bilateral economic relations.

Prime Minister noted that India had made transformative progress in the last ten years and would continue on the same path given its strengths of political stability, policy predictability, Ease of Doing Business, and its reform oriented economic agenda. 

It is set to become the third largest economy in the world over the next few years. Talking of India’s impressive growth story, its skilled talent pool, and expansive market opportunities, he highlighted that India is contributing 17% to global economic growth. Prime Minister spoke about various initiatives to enhance India’s participation in global value chains through programs such as Production Linked Incentive scheme, India Semiconductor Mission and establishment of 12 new Industrial Smart Cities. He called upon the business leaders to look at opportunities in India in the field of skill development. For businesses looking for resilient supply chains, Prime Minister noted that India is the best alternative given its strengths. PM assured that India will increase the pace and scale of infrastructure development in his third term and apprised the CEOs of new opportunities in the fields of Railways, Roads, Ports, Civil Aviation, Industrial Parks and Digital connectivity.

Prime Minister invited Singaporean business leaders to look at investment opportunities in India and to increase their presence in the country.