Singapore, its firms optimistic about India's long-term prospects: Tharman

SINGAPORE and its companies are optimistic about India's long-term prospects, Senior Minister and Coordinating Minister for Social Policies Tharman Shanmugaratnam said during a working visit to India on Monday.

"We are growing investments in India, including in technology parks and logistics," he added. "We are also deepening collaboration in the digital economy, including linking up our payment systems and national single-window platforms for trade."

Mr Tharman called on Prime Minister Narendra Modi on Monday in New Delhi, India's Prime Minister's Office said on Monday night.

Mr Modi welcomed Mr Tharman to India, extending warm wishes on the occasion of New Year to him and through him to Singapore Prime Minister Lee Hsien Loong.

Both sides expressed satisfaction at the rapid pace of bilateral relations and discussed matters of mutual interest in economic cooperation, including infrastructure, skills, the India-Singapore Comprehensive Economic Cooperation Agreement, and the digital economy.

Mr Modi expressed his desire to further strengthen cooperation between India and Singapore in the areas of infrastructure, tourism, digital payment systems, innovation, and governance.

"PM Modi and I had a good discussion on India's economic and social strategies to ensure sustained growth and inclusivity in the years to come," said Mr Tharman. He noted the huge strides that Mr Modi's government has made in social transformation, which will be coupled with further reforms in economic transformation, particularly to ensure job growth for India's young population.

Mr Tharman is on a working visit to New Delhi and Mumbai till Wednesday.