The relationship between India and Singapore is one of wide-ranging collaboration based on robust commercial and cultural ties.
Ethnic Indians comprise 9.1 per cent of Singapore’s population. Among 1.6 million foreign residents in Singapore, around 250,000 are Indian expatriates from diverse sectors – from finance to construction.
The depth of the two countries’ people-to-people bonds can be guaged from the fact that Tamil is one of the four official languages of the island nation.
Premier trade partner
Singapore holds the position of India’s premier trade partner within Asean and is the leading source of foreign direct investment (FDI). During 2021-22, FDI equity from Singapore surged to $15.87 billion, contributing to a cumulative USD 136.65 billion FDI inflow by June 2022.
Bilateral trade surged from USD 6.7 billion in 2004-05 to USD 30.11 billion in 2021-22, anchored by the Comprehensive Economic Cooperation Agreement (CECA) signed in 2005. Singapore ranks 12th in India’s trade partners and India ranks 6th in Singapore’s.
Colonial history
Sir Stamford Raffles, an official of the British East India Company in the early nineteenth century, played a key role in the history of both India and Singapore by securing transfer of control of the island which later came to be known as Singapore. The colony was taken from its erstwhile Dutch rulers and transferred to the East India Company in 1819 and it was later governed from Kolkata until 1867.
The echoes of colonial history of Singapore resonate in its landscape, institutions, practices, linguistic influences, and the significant Indian community present there. A landmark moment was India’s early recognition of Singapore’s sovereignty in 1965.
The Bose connect
In this dynamic partnership, the legacy of Netaji Subhas Chandra Bose holds prominence. Beyond India’s borders, Bose’s influence resonates deeply in Singapore’s narrative. The recognition of Padang, where Bose’s iconic “Chalo Dilli” call was made, as a national monument, is a testimony to his enduring legacy. Padang’s designation as the 75th national monument during Singapore’s 57th National Day celebrations in 2022 symbolises this shared heritage and Bose’s lasting impact.
The deepening cooperation between the two nations finds expression in a range of agreements that span government endeavours, commercial ventures, and people-topeople exchanges. Bolstering this connection are over 20 bilateral mechanisms, dialogues, and exercises, demonstrating alignment on a wide array of global issues. Membership in numerous international forums further solidifies this partnership.
In 2014, the strategic “5S” approach was forged, covering Scaling up Trade & Investment; Speeding up Connectivity; Smart Cities & Urban Rejuvenation; Skill Development, and State Focus. By 2018, FinTech & Innovation had emerged as driving forces.
