Singapore, October 10 (TNA) India's Finance and Corporate Affairs Minister Nirmala Sitharaman is on a visit to Singapore, where she met Singapore's Prime Minister Lawrence Wong on Friday. The leaders discussed ways to further strengthen economic, financial, investment and business ties. Both also exchanged views on regional and global developments and on strengthening India-ASEAN cooperation. They reviewed progress in advancing the outcomes of the 4th India-Singapore Ministerial Roundtable.
In a meeting with Singapore's President Tharman Shanmugaratnam, Nirmala Sitharaman exchanged views on taking forward the Comprehensive Strategic Partnership and further strengthening bilateral cooperation.
The Indian Minister also met Singapore's Foreign Affairs Minister Vivian Balakrishnan. The two ministers exchanged views on the prevailing geopolitical situation and global economic headwinds impacting equity, bond and FX markets. They also discussed India's economic performance, GDP growth, FDI trends, foreign exchange reserves and ongoing policy reforms.
Nirmala Sitharaman reaffirmed the government's commitment to sustaining the reform momentum and pursuing macroeconomic policies that support inclusive growth and price stability. Discussions also covered opportunities for cooperation in semiconductors, AI, data centres, tokenisation and central bank digital currencies. Both sides welcomed collaboration between their respective central banks on emerging technologies.
The Finance Minister also participated in a business roundtable with senior representatives of leading global investment firms in Singapore on Friday.
The interaction focused on India's economic resilience amid global uncertainties, including volatile oil prices and geopolitical and geoeconomic developments, as well as the opportunities and challenges arising from rapid advances in artificial intelligence.
Nirmala Sitharaman also exchanged views with global investors on India's macroeconomic fundamentals, financial markets and measures to further deepen market participation and attract global capital into Indian assets.