Second round of India-Singapore Ministerial Roundtable on Monday

New Delhi : External Affairs Minister (EAM) S. Jaishankar, Finance Minister Nirmala Sitharaman, Commerce and Industry Minister Piyush Goyal and Railways Minister Ashwini Vaishnaw will participate in the second round of the India-Singapore Ministerial Roundtable (ISMR) that will be held in Singapore on August 26, the Ministry of External Affairs (MEA) announced on Saturday.

During their visit, the Ministers will interact with their counterparts and will also call on Singaporean leadership.

"This meeting will enable both sides to review various aspects of their Strategic Partnership and identify new avenues to further elevate and broaden it," read the MEA statement.

ISMR is a unique high-level mechanism established to set a new agenda for India–Singapore bilateral relations.

"The establishment of the ISMR is a pathbreaking initiative which was envisioned by Prime Minister Narendra Modi and reflects the unique nature of India-Singapore bilateral relationship," the MEA had said after its inaugural meeting was held in New Delhi in September 2022.

Four senior Singapore ministers had travelled to India for the first meeting, including Deputy Prime Minister Lawrence Wong, Foreign Minister Vivian Balakrishnan, Minister for Transport and Trade Relations S. Iswaran, and Minister of Trade and Industry Gan Kim Yong.

Discussions during the inaugural round especially focused on emerging areas of digital connectivity, fintech, green economy, skill development and food security.

Appreciating ISMR, PM Modi hoped that such initiatives would help further strengthen the bilateral relations between the two countries.

After the first meeting, a FinTech Cooperation Agreement was signed between the Monetary Authority of Singapore (MAS) and the International Financial Services Centres Authority (IFSCA) in Gujarat.

"SMR is a leaders-led forum to explore opportunities for mutually beneficial collaboration given the rapidly evolving geopolitical developments in a post-Covid-19 recovery phase and ongoing supply chain disruptions. The Ministers affirmed the longstanding and mutually beneficial relationship between India and Singapore, with deep reservoirs of strategic trust. The discussions covered a wide range of topics, including food security, energy security, digitalisation, green technology, and skills development," stated Singapore Foreign Ministry after the inaugural roundtable.