In a wide-ranging interview with IN Diplomacy the High Commissioner talks about the far-reaching impact of India’s recent G20 Presidency, a testament to its growing diplomatic influence on the world stage as well as the different aspects of India-Singapore relations, from bilateral visits and investments to the growing synergy in areas like fintech, green energy, and cultural exchange
The scale, scope, and outcome of the last G20 Summit presided over by India have been unprecedented; could you share some highlights that stood out?
HC: India’s G20 Presidency was its diplomatic achievement of the year 2023. We were able to gather the most powerful and influential voices of the world and bring them together in a consensus with the voice of the Global South. It was difficult to reconcile but we were able to get there and bridge the gap. We saw the unanimous adoption of the G20 New Delhi Leaders’ Declaration, which demonstrated the commitment of the G20 leaders to address global challenges in an inclusive, decisive and action-oriented manner. Mission LiFE (Lifestyle For Environment), envisioned by Prime Minister Shri Narendra Modi, finds a prominent mention. We think it was important because Mission LiFE empowers each individual to play a strong role in combating climate change.
Organising G20 was a mammoth exercise logistically. With over 200 meetings in 60 Indian cities in all our 28 States and 8 UTs, across 40 different mechanisms including Sherpa and Finance Track Working Groups, as well as Engagement Groups, the size, scale and scope of India’s G20 Presidency was unprecedented. In-person participation during India’s G20 Presidency was amongst the largest ever. Over 100,000 participants, from 135 nationalities, attended our G20 Engagement Group and related meetings during our Presidency. This includes participation from G20 Members and 9 invitee countries – which included Singapore – and 14 international organizations.
Unique experiences showcasing India’s diversity, inclusive traditions and cultural richness were also an integral part of the visiting delegates’ programme. Millet-based dishes were incorporated in the menu, and a wide range of cultural performances and excursions were organized. Over 300 cultural events, with the participation of over 18,000 artists, showcasing local and national art forms, were held.
to the then Singapore President Halimah Yacob
Regarding Prime Minister Modi’s vision for India’s role in the G20 and beyond – what aspects do you think will be relevant to Singapore and ASEAN?
HC: Prime Minister Shri Narendra Modi envisioned an inclusive, ambitious, action-oriented, and decisive G20 and I believe this vision has been realised. The inclusion of the African Union (AU) as a permanent member of the G20 was a big step in making G20 more inclusive. We hosted ‘Voice of the Global South Summit’ twice, in order to mainstream the Global South’s concerns. The G20 Declaration seeks an ambitious goal of tripling the global renewable energy capacity by 2030. Under India’s Presidency, Global Biofuel Alliance was established and there was a concerted push for Green Hydrogen. Following India’s ethos through Lifestyles for Sustainable Development (LiFE), which has been adopted in the Leader’s Declaration, the guiding principles will make everyone of us a foot soldier in the combat against climate change. These are just some examples of how the vision of India’s role in G20 has been realised.
“In Singapore, we have a very vibrant Indian diaspora which is contributing
to the Singaporean economy in various ways and to the larger India-Singapore ties. They have
been instrumental in helping shape the world’s perception of India. They have shown
through their ingenuity, hard work and resilience that they hail from a great civilisation…
They are the real-time and on-the-field Ambassadors of India”
To answer the second part of your question, let me begin by saying that Singapore is an important Strategic Partner of India and we have excellent bilateral relationships. Singapore has also been our country coordinator in ASEAN from 2021-24. Singapore was invited as a guest country by India during its Presidency in 2023. We appreciate Singapore’s contributions made during various discourses in G20 meetings. As an important member of the global community, there is nothing in the outcome documents of G20 meetings that may not be relevant for Singapore. We look forward to continue our close coordination with Singapore on regional and multilateral matters, even beyond the G20.
There have been several bilateral visits between India and Singapore; could you brief the readers on the major highlights and outcomes of the recent visits?
HC: In the year 2023, we continued to see many visits between India and Singapore in both directions. Singapore Prime Minister Lee Hsien Loong visited India from 8-10 September 2023 for attending G20 Summit where he met with Prime Minister Modi. He also participated in the Virtual Summit on 22 November 2023.
External Affairs Minister Dr. S. Jaishankar visited Singapore on an official visit from 18-21 October 2023. He had several bilateral engagements with the leadership and senior Ministers of the Cabinet. EAM called on H.E. Mr. Tharman Shanmugaratnam, President of Singapore, and congratulated him on his recent election victory. EAM also called on Mr. Lawrence Wong, Deputy Prime Minister and Minister for Finance. Both exchanged views on deepening engagement in the identified pillars of our cooperation viz. Fintech, Digitalization, Green Economy, Skills Development and Food Security. EAM also met Mr. Teo Chee Hean, Senior Minister and Coordinating Minister for National Security, Mr. Vivian Balakrishnan, Minister of Foreign Affairs, Dr. Ng Eng Hen, Minister for Defence, Mr. Gan Kim Yong, Minister of Trade & Industry and Mr. K Shanmugam, Minister for Home Affairs and Minister for Law. The visit presented an opportunity to further deepen the Strategic Partnership between India and Singapore.
We also had the visits of Education Minister Shri Dharmendra Pradhan, Minister of State for External Affairs Shri V. Muraleedharan, and Minister of State for External Affairs and Education Dr. Rajkumar Ranjan Singh. The Chief Minister Shri M.K. Stalin of Tamil Nadu and Chief Minister of Gujarat Shri Bhupendrabhai Patel also paid a visit to Singapore.
In the other direction, Singapore’s former Senior Minister (SM) Tharman Shanmugaratnam visited India to participate in the Raisina Dialogue and Neemrana Conference on 2-5 March 2023. During the visit, he met Finance Minister Smt. Nirmala Sitharaman. We had a lot of visits for G20 Ministerial meetings as well. DPM and Minister for Finance Mr. Lawrence Wong participated in the G20 Finance Ministers’ Meeting on 15-18 July 2023 in Gandhinagar. On 01-03 March 2023, FM Dr. Vivian Balakrishnan visited India to take part in the G20 Foreign Ministers’ Meeting (FMM). Mr. Gan Kim Yong, Minister for Trade & Industry participated in the B20 India Summit on 24-25 August 2023 in Jaipur. Several other Singaporean Ministers participated in various Ministerial meetings of G20.
Singapore is one of India’s largest investors; could you update the readers on the latest developments in this area?
HC: Singapore is the leading source of Foreign Direct Investment into India. We have had a very vibrant investment partnership over the years. Singapore is also amongst the largest sources of External Commercial Borrowings for India and the Foreign Portfolio Investment from Singapore has been extremely important for India. Over the last 20 years the total investment into India from Singapore is almost US$153.393 billion and accounts for nearly 23 percent of the total FDI inflows. In FY 2022-23 Singapore was the largest source of FDI into India. FDI equity inflows in India from Singapore during 2022-23 stood at US$ 17.203 billion. Top sectors attracting FDI Equity inflows from Singapore are: Services Sector, Computer Software & Hardware, Trading, Telecommunications and Drugs & Pharmaceuticals.
What is your advice to businesses interested in entering the Indian market and your comments on the ease of doing business there and any advice to those who are considering going to India?
HC: India is presently known as one of the most important players in the global economic landscape. Its trade policies, Government reforms, and inherent economic strengths have contributed to its standing as one of the most sought-after destinations. Also, technological, and infrastructural development being carried out across the country augurs well for trade and investment. Programmes such as Digital India, Make in India and Atal Innovation Mission have rationalized and expedited the investment processes in the country. In the last few years, the government has introduced several industry-friendly policies such as Production Linked Incentive (PLI) schemes, Remission of Duties and Taxes on Exported Products (RoDTEP), PM Gati Shakti, India Industrial Landbank, the National Logistics Policy and the National Single Window System to project India as the most attractive destination, not only for investments but also for doing business. In fact, sectors such as electronics, manufacturing and IT hardware have seen a high impact because of the PLI schemes. The PLI scheme currently covers 14 key sectors, and some new sectors are also expected to be included soon. So, for the investors the advice is to go ahead, identify the opportunity and invest in India!
For Singapore companies going to India, are there trends or types of industries the High Commission has identified or recommended to be there?
HC: India has the advantage of a large and cost-effective talent pool, a significant domestic market and a conducive business environment propelled by Government policies of economic reforms, targeted incentives, ease of doing business and infrastructure development. Some of the potential areas which would help in strengthening overall bilateral relations and offer interesting opportunities for Singaporean businesses entering Indian market would be Skill Development, Fintech & Innovation, Energy and Green Projects, Smart Cities and Urban Infrastructure, E-Commerce, Manufacturing and Supply Chain Technology & IT Sector.
From the tourism perspective there were many G20 Meetings held in various parts of India that benefitted from the exposure; what are your recommendations for Singaporeans?
HC: The tourism sector is a key driver for inclusive economic growth, involving local people and environmental sustainability. When over 200 meetings are hosted in over 60 cities of India, it is bound to have a tremendous impact on its tourism industry. The majority of these were non-metro cities like Srinagar, Udaipur, Guwahati, Indore, Jodhpur, Surat and Thiruvananthapuram. The Government focused on introducing the regions’ heritage as part of the G20 experience for the incoming guests. Going in the true spirit of Vasudhaiva Kutumbakam, which is a Sanskrit phrase meaning “The World Is One Family,” the local governments also utilised the opportunity to showcase their hospitality and traditions. Their unique culture was exposed to foreign delegates who took a piece of this richness in their hearts back to their homelands. All this would go a long way in turning the tide for the Indian tourism industry.
Finally, the Indian diaspora is one of the largest of such communities in Singapore – what are your plans to engage and build on this resource for the benefit of both India and Singapore.
HC: In Singapore, we have a very vibrant Indian diaspora which is contributing to the Singaporean economy in various ways and to the larger India-Singapore ties. They have been instrumental in helping shape the world’s perception of India. They have shown through their ingenuity, hard work and resilience that they hail from a great civilisation. I definitely plan to enthusiastically engage with them here through various platforms and continue to strengthen their role in the relationship. They are the real-time and on-the-field Ambassadors of India.
Celebrate INDIA REPUBLIC DAY 26th January 2024
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- Bilateral Roundup: Dr Jaishankar’s Official Visit to Singapore: Opportunity to Deepen Strategic Partnership click here
- Millet Momentum A 2023 Success Story click here
- Tamil Nadu Global Investor’s Meet Attracts Singaporean Investors click here
- Vibrant Gujarat Global Summit 2024 click here
- India Welcomes World to MICE Conclave click here
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- Inviting Singaporeans to Explore Incredible India click here
