Introduction
India and Singapore have enjoyed a close and mutually beneficial relationship for decades, and this relationship has only grown stronger in recent years. In 2015, the two countries celebrated the 50th anniversary of diplomatic relations, and this year, India was the Country of Honour at the Singapore International Festival of Arts (SIFA).
To mark these milestones, the Singapore Indian Chamber of Commerce and Industry (SICCI) and the Indian High Commission in Singapore jointly organised the India’s Singapore Story Singapore Lecture on 23 November 2015. The lecture was delivered by Mr. N. Ravi, Chairman of The Hindu Group, and was attended by a distinguished audience of business leaders, diplomats, and academics.
India’s Growth Story
In his lecture, Mr. Ravi spoke about India’s remarkable growth story. He noted that India is now the world’s seventh largest economy, and is on track to become the third largest by 2030. This growth has been driven by a number of factors, including:
- A young and growing population
- A rapidly expanding middle class
- A strong and diversified economy
- A commitment to economic reforms
Mr. Ravi also spoke about the challenges that India faces, including poverty, inequality, and corruption. However, he expressed confidence that India will overcome these challenges and continue to grow in the years to come.
Singapore’s Role in India’s Growth
Singapore has played a significant role in India’s growth. Singapore is India’s largest foreign investor, and the two countries have a strong trade relationship. Singapore is also a major source of technology and expertise for India.
Mr. Ravi highlighted a number of areas where Singapore can continue to contribute to India’s growth, including:
- Infrastructure development
- Skill development
- Innovation and technology
- Financial services
The Way Forward
Mr. Ravi concluded his lecture by calling for even closer cooperation between India and Singapore. He said that the two countries should work together to create a more prosperous and stable region.
There are a number of ways that India and Singapore can strengthen their cooperation, including:
- Expanding trade and investment
- Collaborating on infrastructure projects
- Developing joint research and development initiatives
- Promoting cultural and educational exchanges
By working together, India and Singapore can create a better future for both countries.
Tables
Table 1: India’s Economic Growth
| Year | GDP Growth (%) |
|---|---|
| 2005 | 9.2 |
| 2010 | 10.3 |
| 2015 | 7.6 |
| 2020 | 8.0 (projected) |
Table 2: India’s Trade with Singapore
| Year | Trade Volume (USD billions) |
|---|---|
| 2005 | 5.8 |
| 2010 | 13.4 |
| 2015 | 22.0 |
| 2020 | 30.0 (projected) |
Table 3: Singapore’s Investment in India
| Year | Investment (USD billions) |
|---|---|
| 2005 | 1.2 |
| 2010 | 2.5 |
| 2015 | 4.0 |
| 2020 | 6.0 (projected) |
Table 4: Joint Ventures between India and Singapore
| Year | Number of Joint Ventures |
|---|---|
| 2005 | 100 |
| 2010 | 200 |
| 2015 | 300 |
| 2020 | 400 (projected) |
