Singapore: Singapore Foreign Minister Vivian Balakrishnan has appreciated India on its digital identity payment.
India is a country that is being developed economically. The country has achieved a tremendous growth in the digital platforms including digital payment, digital identity, digital finance, fintech and digital inclusion, says Vivian Balakrishnan while interacting with S. Jaishankar, the Minister of External Affairs of India .
Singapore always accepted such changes and the policy will strengthen the relation between the two countries. The change will be reflected in the international economy too, clarified Vivian Balakrishnan.
Due to this, the Indian subcontinent and the South East region of Asia can easily facilitate the goods transmission. Singapore has a strong wish to keep cultural and human relations with India, he added.
The meeting was conducted ahead of the financial deal between the two countries.
Singapore is the 6th largest financial partner of India. Singapore has 25 percent share among the total shares of India’s trade. Bilateral trade between the two countries for the year 2021-2022 was $14.2 billion. Singapore’s total investment in India was $118.39 billion. This is 22 percent of the total foreign investments in India.
Singapore was India’s largest source of FDI from 2018 to 2021.
Vivian Balakrishnan also said that the relationship between the two countries has been strengthened after Prime Minister Narendra Modi’s visit to Singapore