India, Singapore discuss fintech, regulatory cooperation in first ministerial roundtable. See details

Notably, the Indian side was represented by Finance Minister Nirmala Sitharaman, External Affairs Minister S Jaishankar and Commerce and Industry Minister Piyush Goyal, while the Singapore delegation was led by its Deputy Prime Minister and Finance Minister Lawrence Wong.

During the meeting, the leaders emphasized on ways to strengthen cooperation between India and Singapore in emerging and futuristic areas, the finance ministry said in a series of tweets. “Both sides discussed a wide range of issues which included, among others, #Financial Sector Operations, #Fintech, #Regulatory Cooperation, #Investment Opportunities and current economic arrangements,” a tweet said.

Finance Minister Nirmala Sitharaman said in a tweet that both sides discussed several issues, including financial sector operations, fintech, regulatory cooperation and investment opportunities.

It is important to note that this was the maiden meeting of the India-Singapore Ministerial Roundtable (ISMR), a new ministerial platform between the two countries to enhance economic cooperation, and ISMR seeks to deepen existing cooperation and identify opportunities for mutually beneficial cooperation in new and emerging areas.

The Singapore delegation at ISMR was led by the country’s Deputy Prime Minister Lawrence Wong, who is also Minister of Finance. “During the meeting, the leaders emphasized ways to strengthen India-Singapore cooperation in emerging and futuristic areas. Both sides discussed a wide range of issues that included financial sector operations, fintech, regulatory cooperation, investment opportunities and current economic arrangements,” Sitharaman said in tweets.

Foreign Minister Vivian Balakrishnan, Trade and Industry Minister Gan Kim Yong and Transport and Trade Minister S Iswaran were part of the Singapore delegation. Jaishankar said there was a free-flowing discussion on the possibilities and prospects of our ties in the coming decade.

“An open and free-flowing discussion on the possibilities and prospects of our ties in the coming decade. Considerable food for thought. Looking forward to our next session. “Here pleased to participate in the India-Singapore Ministerial Roundtable with FM @nsitharaman & CIM @ PiyushGoyal.. Our counterparts in Singapore were @LawrenceWongST, @VivianBala, , Minister for Trade and Industry Gan Kim Yong and Minister for Transport and Trade Relations S. Iswaran,” he said in tweets.

“Join industry leaders from India and Singapore who held a Business Roundtable in parallel. Appreciate your insights and ideas. Refreshing our relationship is truly a shared enterprise,” he added. Lawrence Wong is in India from September 17 to 21, his first official visit to India after taking office.

India and Singapore have a close bilateral relationship based on the convergence of economic and political interests and the economic reforms in India since the early 1990s created a strong basis for cooperation with Singapore, opening opportunities for a significant presence in each other’s economies, according to PTI report.

(With input from ANI, PTI)

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