DPM Gan Kicks Off India Visit With Singapore Firms Inking Investment Deals

Data centre sector a growing area of cooperation between both countries

- Nirmala Ganapathy

NEW DELHI - Kicking off his India visit aimed at deepening bilateral economic and business ties, Deputy Prime Minister Gan Kim Yong on Aug 12 witnessed Singapore firms inking agreements committing more than 200 billion rupees ($2.93 billion) worth of investments in Maharashtra state.

In addition, DPM Gan, who is also Minister for Trade and Industry, visited PSA's port operations at Bharat Mumbai Container Terminal and inaugurated CapitaLand Investment's (CLI) first data centre in Navi Mumbai - touted as being two of the more significant investments by Singapore firms in Maharashtra.

"These investments underscore the growing bilateral economic partnership between Singapore and India and Singapore's confidence in India's long-term economic trajectory," the Republic's Ministry of Trade and Industry said on Aug 12.

DPM Gan was in Mumbai ahead of the third India-Singapore Ministerial Roundtable to be held in New Delhi over two days from Aug 13.

His visit also precedes Prime Minister Lawrence Wong's visit to the world's fourth-largest economy in early September as Singapore and India mark 60 years of diplomatic relations.

Plans are afoot to elevate relations to a comprehensive strategic partnership following Indian Prime Minister Narendra Modi's visit to Singapore in 2024. India is set to follow Australia, Vietnam and France with this level of relations with the Republic.