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Singapore's Foreign Minister pitches for liberalisation of India's aviation & maritime sector

By TIOL News Service

NEW DELHI, NOV 01, 2017: SINGAPORE's Minister for Foreign Affairs, Mr. Vivian Balakrishnan pushed India to engage more with ASEAN and urged the South Asian economy to increase aviation and maritime links with the grouping through Singapore. Mr. Balakrishnan observed that Singapore is India's 10th largest trading partner and 2nd largest foreign investor. He stressed that the investment figures comprise actual investment such as Ascendas' USD 2 billion investment in IT parks, Sembcorp's investment of USD 3 billion in the power sector and Singapore Airline's investment in Vistara. Apart from global value chains, he pointed to air connectivity between India and Southeast Asia. He pointed out that international tourist arrivals in India were just 8.2 million i.e. about half of what Singapore currently receives. The third area in his view was the need to step up the pace of digitization in India.

While addressing the Singapore Symposium – India, Singapore & ASEAN, Shared History, Common Future which was organized by the Confederation of Indian Industry and Institute of South Asian Studies of the National University of Singapore, Mr. Balakrishnan highlighted India's strong historical footprint in the region and deep influence in the culture, religion and languages of Southeast Asia. He also pointed out, throughout history has always acted as a gateway for India in the region. Even today, Singapore continues to facilitate India's engagement with the Southeast Asian region, he added.

While praising the steps taken by the Government such as the use of Aadhar and the promotion of digital payments, the Minister felt that more needed to be done. Mr. Balakrishnan offered Singapore's help in taking India's RuPay overseas by becoming its first international partner.

Earlier in his opening address, Amb. Gopinath Pillai, Chairman, Institute of South Asian Studies, National University of Singapore and Ambassador-at-Large, Ministry of Foreign Affairs, Singapore stated that India, with its deep talent pool and Singapore with its ability to re-invent itself could combine forces. Mr. Tarun Das, Former Chief Mentor, CII and Chairman, Institute of Economic Growth moderated the interactive session with the Minister while Mr. Chandrajit Banerjee, Director General, CII proposed the Vote of Thanks. 


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