India emerging as major pole for global economy: Singapore President Tharman Shanmugaratnam

BHUBANESWAR: President of Singapore Tharman Shanmugaratnam on Saturday said India is emerging as a major pole for the global economy and poised to move up the ladder due of its demographics, development process and significant potential as an export economy.Interacting with the media during his visit here, Tharman said, in a multi-polar world, India aspires to be a pole in its own right, “that’s true geopolitically and also economically.”

Tharman said India and Singapore are now on a new plane of cooperation. “India is a nation that we would like to collaborate with,” he said wrapping up his two-day visit to Odisha with a visit to Bharat Biotech vaccine manufacturing unit in Bhubaneswar.

Semiconductor ecosystem, skill infrastructure and sustainability are major priority sectors between the two nations but connectivity is another area of focus too. During his meetings with the leadership in India, he said it came out clearly there is keenness to expand the air services agreement that benefits both the economies. “It was revised about 10 years ago but we are now at the 10-year point to look at the next 10 years. Aviation as a tool has potential for India to emerge as a player in the maintenance, repair and overhaul (MRO) business,” he said.

Prime Minister Narendra Modi had raised it during his September visit to Singapore which has companies ranked as global leaders.

Talking about the strong bilateral relations between the countries, President Tharman said it is not just about specific industries but about working on projects that continue to build trust between the two countries. “Trust is in short supply internationally, and Singapore and India can show how it is possible to build trust in today’s world, even in today’s uncertain and fractious world,” he said.He pointed out that for Singapore to do well in the future, it must engage closely with ASEAN neighbours such as India with China. “That’s where the opportunities are and that’s where we also develop our sense of being contributors to Asia’s growth, sustainability and stability,” he added.

During his two-day visit to Odisha, at least eight MoUs were inked between Odisha government and Singapore companies across varied sectors.

The President said Odisha is poised for a new stage of development and must start working on the enablers. “I decided to come to Odisha at this stage because the east is rising in India and it’s a priority for the Indian government,” he said.Starting off from a lower level of income compared to other states, the Singapore President felt Odisha is aspiring to move on, and with the right focus on education and skills. “Chief Minister Mohan Charan Majhi and Union Minister for Education minister Dharmendra Pradhan visited Singapore along with their officials. They are very keen to work with us on specific projects,” he said referring to skilling, ITES, industrial parks and semiconductor sectors.

He also mentioned that Odisha has clear strengths in petrochemicals and Singapore companies are looking at contributing to development of the sector. Tharman who interacted with students at the World Skill Centre, established with support from Singapore, said he found them full of hope and optimism.”I come away, feeling optimistic about Odisha,” he added.