India |
Singapore |
The bilateral relations between the Republic of India and the Republic of Singapore have been traditionally strong, with both nations enjoying extensive cultural and commercial relations. In recent years, India and Singapore have signed the Comprehensive Economic Cooperation Agreement (CECA) to increase trade, investments and economic cooperation and expanded bilateral cooperation on maritime security, training forces, conducting joint exercises, developing military technology and fighting terrorism.[1][2]
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India and Singapore share long-standing cultural, commercial and strategic relations, with Singapore being a part of the "Greater India" cultural and commercial region. More than 300,000 people of Indian origin live in Singapore. Following its independence in 1965, Singapore was concerned with China-backed communist threats as well as domination from Malaysia and Indonesia and sought a close strategic relationship with India, which it saw as a counter-balance to Chinese influence and a partner in achieving regional security.[1] Singapore had always been an important strategic trading post, giving India trade access to the Malay archipelago and the Far East. Although the rival positions of both nations over the Vietnam War and the Cold War caused consternation between India and Singapore, their relationship expanded significantly in the 1990s;[1] Singapore was one of the first to respond to India's "Look East" Policy of expanding its economic, cultural and strategic ties in Southeast Asia to strengthen its standing as a regional power.[1]
Ever since Singapore's independence, both nations have maintained high-level contacts. Between 1966 and 1971 the Prime Minister of Singapore Lee Kuan Yew visited India three times (1966, 1970 and 1971). The then-Indian Prime Minister Indira Gandhi visited Singapore in 1968, as did Indian leader Morarji Desai.[1] Singapore supported India's bid to become a permanent member of the U.N. Security Council and expand its role and influence in the Association of Southeast Asian Nations (ASEAN). Singapore also supported India in its war against Pakistan in 1965 and the Kashmir conflict.[1]
Military cooperation between the two nations had been hampered by their policy differences in the Cold War era.[1] In 2003, India and Singapore signed a bilateral agreement on expanding military cooperation, conducting joint military training, developing military technology and achieving maritime security.[1] The Singaporean Navy and the Indian Navy have conducted joint naval exercises and training since 1993 such as SIMBEX and MILAN near India's Andaman and Nicobar Islands. India and Singapore have also expanded their cooperation in fighting terrorism.[1]
Singapore is the 8th largest source of investment in India and the largest amongst ASEAN member nations.[1][3] It is also India's 9th biggest trading partner as of 2005-06.[1] Its cumulative investment in India totals USD 3 billion as of 2006 and is expected to rise to US 5 billion by 2010 and US 10 billion by 2015. [2][4][1] India's economic liberalisation and its "Look East" policy have led to a major expansion in bilateral trade, which grew from USD 2.2 billion in 2001 to US 9-10 billion in 2006 - a 400% growth in span of five years - and to USD 50 billion by 2010.[4][1] [2] Singapore accounts for 38% of India's trade with ASEAN member nations and 3.4% of its total foreign trade.[1] India’s main exports to Singapore in 2005 included petroleum, gemstones, jewellery, machinery and its imports from Singapore included electronic goods, organic chemicals and metals. More than half of Singapore’s exports to India are basically "re-exports" - items that had been imported from India.[1][3]
In 2005, both nations signed the Comprehensive Economic Cooperation Agreement (CECA) and have organised the India-Singapore Parliamentary Forum and the Singapore-India Partnership foundation with active support from the Federation of Indian Chambers of Commerce and Industry (FICC), the Confederation of Indian Industry (CII) and the Singapore Business Federation to promote trade, economic development and partnerships. [2][1][3] The CECA eliminated tariff barriers, double taxation, duplicate processes and regulations and provided unhindered access and cooperation between the banks and financial institutions of Singapore and India. [2][1] The CECA also advanced bilateral cooperation over education, science and technology, intellectual property, aviation and relaxed visa regulations for Indian professionals in information technology, medicine, engineering and financial fields to emigrate and work in Singapore.[1] [2] Singapore has invested in projects to upgrade India's ports, airports and developing information technology parks and a Special Economic Zone (SEZ).[1] India has become Singapore's 4th biggest tourist destination and more than 650,000 Indians visited Singapore in 2006. Both nations have worked to collaborate on aviation, aerospace engineering, space programmes, information technology, biotechnology and energy.[1]
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