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BUSINESS EYE SEPTEMBER 13, 2024 | The Indian Eye 34

Destination India: Singapore firms pledge

to invest $ 60 billion in India in next few years

During his visit to the island nation, PM Modi acknowledged the role played by the Singaporean industry
leaders in strengthening bilateral relations and promoting economic cooperation between India and Singapore

OUR BUREAU
Singapore
ingaporean companies from diverse sectors
committed an investment around USD 60
Sbillion in the next few years during a round-
table with Prime Minister Narendra Modi on
Thursday. PM Modi interacted on Thursday with a
group of leading Singaporean CEOs from diverse
sectors, including investment funds, infrastructure,
manufacturing, energy, sustainability, and logistics.
Prime Minister invited Singaporean business
leaders to look at investment opportunities in In-
dia and to increase their presence in the country.
PM Modi came to Singapore from Brunei in
the second leg of his two-nation visit.
Deputy Prime Minister H.E. Gan Kim Yong
and Minister for Home Affairs and Law K Shan-
mugam of Singapore participated in the event.
Appreciating their investment footprint in In-
dia, PM Modi acknowledged the role played by
the Singaporean industry leaders in strengthening
bilateral relations and promoting economic coop-
eration between India and Singapore. Prime Minister Narendra Modi with his Singaporean counterpart Lawrence Wong visits the semiconductor facility of AEM
To further facilitate their collaboration with Holdings Ltd, exploring synergies between the two countries in semiconductor manufacturing, on Thursday. Singapore Minister
India, the Prime Minister announced the setting
up of an INVEST INDIA office in Singapore, a of Home Affairs and Law K Shanmugam is also seen (ANI)
PMO release said.
He further added that the elevation of In- my in the world over the next few years. called upon the business leaders to look at oppor-
dia-Singapore ties to a Comprehensive Strategic Talking of India’s impressive growth story, its tunities in India in the field of skill development.
Partnership would give a major thrust to bilateral skilled talent pool, and expansive market opportu- For businesses looking for resilient supply
economic relations. nities, he highlighted that India is contributing 17 chains, PM Modi noted that India is the best al-
PM Modi noted that India had made trans- per cent to global economic growth. Prime Minis- ternative given its strengths. He assured that In-
formative progress in the last ten years and would ter spoke about various initiatives to enhance In- dia will increase the pace and scale of infrastruc-
continue on the same path given its strengths of dia’s participation in global value chains through ture development in his third term and apprised
political stability, policy predictability, Ease of programmes such as Production Linked Incentive the CEOs of new opportunities in railways, roads,
Doing Business, and its reform oriented economic scheme, India Semiconductor Mission and estab- ports, civil aviation, industrial parks and digital
agenda. It is set to become the third-largest econo- lishment of 12 new Industrial Smart Cities. He connectivity.

Banking sector will lead the march to Viksit Bharat 2047

M to transform India to a developed to achieve a GDP of USD 30 trillion difference between the financial
Nagaraju, Secretary, De-
partment of Financial
sector and the fintech industry is
country by 2047.”
by 2047. He further stated that banks
He pointed out that realizing
Services, Ministry of Fi-
banks to leverage the potential
by reaching out to the underserved,
nance, said on Thursday, “All of us this vision demands dedication along help in promoting inclusive growth gradually evaporating. He advised
are aware that India’s robust bank- with belief in the potential and tal- empowering MSMEs, and facilitat- of fintechs to reach the last mile.
ing system is getting ready to meet ent of the Indian people. The union ing initiatives in key areas such as “India stack is a great story for
the needs of Viksit Bharat.” budget supported this vision by lay- healthcare. The government, on its all of us,” he added, calling upon
Delivering the keynote at ‘FI- ing emphasis on mahila, yuva and part, has introduced various schemes, banks to build on that. But with
BAC 2024’ organized jointly by annadaata. such as the PMJDY, to foster inclu- the great emphasis on technology,
FICCI, and IBA on the theme Nagaraju noted that banks con- sion of all segments so that everyone banks also need to be cautious of
‘Banking for Viksit Bharat’, Naga- tinue to be the major source of fund- can contribute to the growth of the cyber threats. He advised banks to
raju added, “Viksit Bharat 2047 is ing for the Indian economy. Every country, noted the secretary. strengthen their systems to miti-
the government’s ambitious vision sector has an important role to play Nagaraju observed that the gate operational risks.

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