Long Description:

As India prepares for its significant role on the global stage, the Indian economy is projected to grow at a robust 7% in FY25, despite experiencing a slowdown to 6.7% in the first quarter of FY25. This forecast reflects resilience and optimism about India’s economic trajectory amidst global uncertainties.

In the context of Prime Minister Narendra Modi's upcoming official visit to Singapore, External Affairs Minister S. Jaishankar has emphasized the strategic opportunity to elevate the bilateral relationship between India and Singapore. According to Jaishankar, the ongoing transformation in India, coupled with shifts in the global landscape, necessitates a modernized and more contemporary partnership with Singapore.

Jaishankar highlighted the strong ties between India and Singapore over the past two decades, underscoring the importance of leveraging current opportunities to strengthen these connections further. He pointed to India's rapid modernization, its recovery from the Covid-19 pandemic, and its advancements in infrastructure as critical elements shaping the country's growth. Jaishankar specifically noted the importance of focusing on manufacturing and talent development as pivotal areas for future expansion.

Addressing concerns about India’s foreign policy direction, Jaishankar rejected the notion that India's focus has shifted towards the Gulf at the expense of its ASEAN relationships. He clarified that India’s approach is multi-directional, acknowledging significant progress in ties with Gulf nations, particularly in investments, technology, security, and connectivity. At the same time, Jaishankar emphasized that India has deepened its engagement with ASEAN during this period.

Also Read : India's Fintech Sector Soars to $90 Billion with 26 Unicorns

The Minister reiterated Singapore's central role in India’s 'Act East' policy, which has evolved from the earlier 'Look East' policy. He highlighted the partnership's significance in areas such as security, connectivity, technology, and sustainability. Jaishankar also pointed to the Trilateral Highway as a transformative infrastructure project connecting India with Myanmar and Thailand, illustrating the broader regional impact of India’s strategic initiatives.

This dialogue underscores the mutual benefits of a strengthened India-Singapore partnership and the broader regional strategy India is pursuing as it continues to grow and modernize.

For more insights on India’s economic trends and strategic partnerships, visit our Best IPO to Apply Now - IPO List 2024, Latest IPO, Upcoming IPO, Recent IPO News, Live IPO GMP Today and Top News Headlines - Share Market News, Latest IPO News, Business News, Economy News.

Join our Trading with CA Abhay Telegram Channel for regular stock market trading and investment calls by CA Abhay Varn - SEBI Registered Research Analyst, and Finance Saathi Telegram Channel for regular share market, news & IPO updates.

Start your stock market journey and apply in IPOs by opening a free demat account with Choice Broking FinX.