In a significant engagement, Prime Minister Shri Narendra Modi met with leading CEOs from Singapore across various sectors including investment funds, infrastructure, manufacturing, energy, sustainability, and logistics. The event also saw participation from Deputy Prime Minister H.E. Mr. Gan Kim Yong and Minister for Home Affairs and Law H.E. Mr. K Shanmugam of Singapore.
Key Highlights from the Interaction:
- Acknowledgment of Investment: Prime Minister Modi praised the substantial investment footprint of Singaporean companies in India, highlighting their role in bolstering bilateral relations and economic cooperation.
- Announcement of New Initiative: To further facilitate business collaboration, Prime Minister Modi announced the establishment of an INVEST INDIA office in Singapore. This move is expected to enhance the ease of doing business and provide better support for Singaporean investors looking to enter the Indian market.
- Comprehensive Strategic Partnership: Modi emphasized that upgrading India-Singapore ties to a Comprehensive Strategic Partnership will significantly boost economic relations between the two nations.
- India’s Economic Progress: The Prime Minister shared that India has achieved remarkable progress over the last decade and is on track to become the world’s third-largest economy. He attributed this growth to political stability, policy predictability, ease of doing business, and a reform-oriented economic agenda.
- Global Contribution: Modi highlighted India’s contribution of 17% to global economic growth and its expanding market opportunities. He noted the country’s skilled talent pool and its ongoing initiatives to enhance participation in global value chains.
- Key Initiatives:
- Production Linked Incentive (PLI) Scheme
- India Semiconductor Mission
- Establishment of 12 New Industrial Smart Cities
- Infrastructure Development: Prime Minister Modi assured that India would accelerate infrastructure development in his third term, focusing on sectors such as Railways, Roads, Ports, Civil Aviation, Industrial Parks, and Digital Connectivity.
- Call for Investment: He invited Singaporean business leaders to explore and invest in India, emphasizing that the country offers resilient supply chains and ample opportunities in various sectors including skill development and infrastructure.
This interaction underscores India’s commitment to strengthening its economic ties with Singapore and offers a range of opportunities for Singaporean businesses to expand their investments in India.
Following business leaders participated in the Business Round Table:
| No. | Name | Designation |
|---|---|---|
| 1 | Lim Ming Yan | Chairman, Singapore Business Federation |
| 2 | Kok Ping Soon | CEO, Singapore Business Federation |
| 3 | Gautam Banerjee | Chairman, India & South Asia Business Group, Singapore Business Federation Senior MD and Chairman, Blackstone Singapore |
| 4 | Lim Boon Heng | Chairman, Temasek Holdings |
| 5 | Lim Chow Kiat | CEO, GIC Private Limited |
| 6 | Piyush Gupta | CEO and Director, DBS Group |
| 7 | Goh Choon Phong | CEO, Singapore Airlines |
| 8 | Wong Kim Yin | Group President & CEO, Sembcorp Industries Limited |
| 9 | Lee Chee Koon | Group CEO, CapitaLand Investment |
| 10 | Ong Kim Pong | Group CEO, PSA International |
| 11 | Kerry Mok | CEO, SATS Limited |
| 12 | Bruno Lopez | President & Group CEO, ST Telemedia Global Data Centers |
| 13 | Sean Chiao | Group CEO, Surbana Jurong |
| 14 | Yam Kum Weng | CEO, Changi Airport Group |
| 15 | Yuen Kuan Moon | CEO, SingTel |
| 16 | Loh Boon Chye | CEO, SGX Group |
| 17 | Marcus Lim | Co-founder and CEO, Ecosoftt |
| 18 | Quek Kwang Meng | Regional CEO, India, Mapletree Investments Private Limited |
| 19 | Loh Chin Hua | CEO & ED, Keppel Limited |
| 20 | Phua Yong Tat | Group Managing Director, HTL International |
