Eyeing new economic areas: Singapore prez

Singapore is eyeing new opportunities in India in sectors such as logistics, connectivity, petro-chemicals and maintenance, repair and operations (MRO) for aerospace, Singaporean President Tharman Shanmugaratnam said on Thursday.

- HT Correspondent

NEW DELHI:

Bilateral ties are on a "new trajectory" following the upgrading of relations to a comprehensive strategic partnership last year and the two sides are cooperating in key areas such as advanced manufacturing and semiconductors, with Singapore helping build up India's semiconductor eco-system, Tharman told the media during a ceremonial reception at Rashtrapati Bhawan.

Besides looking at opportunities in logistics, connectivity, petro-chemicals, skilling, and MRO for aerospace, the two sides are working on net zero industrial parks and exploring new initiatives in the digital space and sustainability, he said.

"In the digital space, we are exploring the possibility of a data corridor between GIFT City and Singapore so that our financial institutions can exchange data on a safe and trusted basis," Tharman said. In sustainability, the two sides are "working actively to look at whether a corridor for renewable energy between India and Singapore can be achieved".