Singapore HC Wong Visits Gujarat To Boost Economic Ties

Singapore High Commissioner to India Simon Wong provided greater momentum to economic ties during his visit to Gujarat.

He had a fruitful discussion to strengthen bilateral ties with Governor Acharya Devvrat, Chief Minister Vijay Rupani and Chief Secretary Anil Mukim.

There were substantial talks to launch Singapore Exchange in GIFT City to take forward its partnership with National Stock Exchange on GIFT Connect.

Under the leadership of Singapore PM Lee Hsien Loong and Prime Minister Narendra Modi, the relationship has touched a new high. The two High Commissioners Simon Wong in New Delhi and P.Kumaran in Singapore have been proactive in their efforts to take the relationship forward.

Image: PM Narendra Modi Facebook Page
Last year, the National Stock Exchange of India (NSE) and the Singapore Exchange (SGX) had announced the signing of an agreement to cement key terms for operationalising the NSE IFSC-SGX Connect.

The aim is to bring together international and GIFT participants to create a bigger liquidity pool for Nifty products at the Gujarat International Finance Tec-City (GIFT) in Gandhinagar.Gujarat International Finance Tec-City (GIFT City) is an under-construction business district near Gandhinagar in the Gujarat state of India. It is India’s first operational greenfield smart city and international financial services centre. It was promoted by the Government of Gujarat as a greenfield project.

Singapore and India have strong economic ties and have enhanced them over the years with various agreements.

Singapore is India’s second-largest trading partner among the 10-nation ASEAN.

There are five areas of cooperation to enhance bilateral relations – referred to as 5S Plank. These are scaling up trade and investment; speeding up connectivity; smart cities and urban rejuvenation; skill development; and state focus.

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