On the political sphere, Modi could take the opportunity to highlight India’s desire for increased regional engagement at a lecture later on Monday, an idea discussed in Kuala Lumpur in relation to the widely-anticipated ASEAN Economic Community.
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Besides, the Prime Ministers Narendra Modi and Lee Hsein Loong also released commemorative stamps depicting Rashtrapati Bhawan and Istana-Official residence of Singapore President-as a mark of 50 years of bilateral relation.
Speaking at the event, Minister for Trade and Industry (Industry), S Iswaran, noted that over the past 10 years, Singapore’s total trade with India has doubled from S$11.8 billion to S$24.6 billion, while its investments in India have grown almost 20-fold from S$653 million to S$12.1 billion.
Modi invited Malaysian students to study in India and urged early conclusion of an agreement on Mutual Recognition of Degrees.
Appreciating Najib’s leadership in combating extremism and radicalisation, Modi said this is a great contribution and an important aspect of global efforts against the challenge.
Later, Modi tweeted that he presented the Singaporean Prime Minister a reproduction of a map of the island of Singapore dating back to 1849.
The Indian Prime Minister also visited the Institute of Technical Education campus here along with his Singaporean counterpart to know about vocational courses and skill development.
The Indian prime minister flew into Singapore from Malaysia in the second and final leg of his four-day visit to southeast Asia.
“It has inspired this region’s progress and led in its integration”, he said, adding that Singapore’s success became an aspiration for Indians. “We are hopeful to roll out GST regime in 2016”.
The PM said a National Investment and Infrastructure Fund is being set up to leverage the push to develop the next generation infrastructure, while tax-free Infrastructure Bonds that will broaden the corporate bond market will be issued soon. We are also working hard that the benefits of this growth reaches to the common man. We have launched major schemes on financial inclusion.
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Under the Budget 2016 that was tabled last month, the government would continue the negotiations on high-speed rail with Singapore. “We are also keen to see that genuine investors and honest tax payers get quick and fair decisions on tax matters”, he said.
