India, Singapore talk about fintech, investments in first ministerial roundtable

In its first assembly of the India-Singapore Ministerial Roundtable (ISMR), a brand new ministerial platform between the 2 international locations to spice up financial cooperation, the 2 international locations reportedly mentioned fintech, funding alternatives and regulatory cooperation amongst others throughout a ministerial roundtable on Saturday.

Notably, the Indian aspect was represented by finance minister Nirmala Sitharaman, exterior affairs minister S Jaishankar, and commerce and business minister Piyush Goyal, whereas the Singapore delegation was led by its Deputy Prime Minister and finance minister Lawrence Wong.

During the assembly, the leaders emphasised methods of enhancing cooperation between India and Singapore in rising and futuristic areas, the finance ministry mentioned in a collection of tweets. “Both sides deliberated upon wide range of issues which inter alia included #Financial Sector Operations, #Fintech, #Regulatory Cooperation, #Investment Opportunities and Current Economic Arrangements,” it mentioned in a tweet.

Finance Minister Nirmala Sitharaman mentioned in a tweet that each side deliberated upon a number of points together with monetary sector operations, fintech, regulatory cooperation and funding alternatives.

It is essential to notice that this was maiden assembly of the India-Singapore Ministerial Roundtable (ISMR), a brand new ministerial platform between the 2 international locations to spice up financial cooperation and the ISMR seeks to deepen present cooperation and establish alternatives for mutually-beneficial collaboration in new and rising areas.

Singapore delegation on the ISMR was led by the nation’s Deputy Prime Minister Lawrence Wong, who can also be Minister for Finance. “During the meeting, the leaders emphasised ways of enhancing co-operation between India and Singapore in emerging and futuristic areas. Both sides deliberated upon wide range of issues which inter alia included Financial Sector Operations, Fintech, Regulatory Cooperation, Investment Opportunities and Current Economic Arrangements,” Sitharaman mentioned in tweets.

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Foreign Minister Vivian Balakrishnan, Trade and Industry Minister Gan Kim Yong and Transport and Trade relations Minister S Iswaran had been a part of the Singapore delegation. Jaishankar mentioned there was a freewheeling dialogue on the chances and prospects of our ties within the coming decade.

“An open and freewheeling discussion on the possibilities and prospects of our ties in the coming decade. Considerable food for thought. Look forward to our next session. “Delighted to take part within the India-Singapore Ministerial Roundtable together with FM @nsitharaman & CIM @PiyushGoyal.. Our Singapore counterparts had been @LawrenceWongST, @VivianBala, , Trade & Industry Minister Gan Kim Yong and Transport & Trade relations Minister S. Iswaran,” he said in tweets.

“Joined by Industry leaders from India and Singapore who had been holding a Business Roundtable in parallel. Appreciated their insights and concepts. Refreshing our relationship is actually a shared enterprise,” he added. Lawrence Wong is in India from September 17 to 21, his first official visit to India after holding 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 up possibilities for a significant presence in each other’s economies, according to PTI report.

(With inputs from ANI, PTI)

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