JeetoBharat
All current affairs

India-Singapore Strategic Partnership: Advancing Digital Public Infrastructure and Green Energy

GS2

The India-Singapore Joint Ministerial Committee recently reviewed progress in fintech, green energy, and semiconductor supply chains. The meeting emphasized the integration of payment systems and the strengthening of bilateral ties through the 'Act East' policy framework.

The India-Singapore Joint Ministerial Committee (JMC) recently met to review and advance the strategic partnership between the two nations, focusing on future-ready sectors such as digital connectivity, green energy, and semiconductor supply chains. Singapore remains one of India’s most significant partners in the ASEAN region, acting as a gateway for trade and a key source of Foreign Direct Investment (FDI). A primary highlight of the discussion was the deepening of fintech cooperation. The successful linkage of India’s Unified Payments Interface (UPI) and Singapore’s PayNow has already set a global benchmark for cross-border Digital Public Infrastructure (DPI). The JMC explored further integration of payment systems, which is crucial for enhancing the ease of doing business and supporting the large Indian diaspora in Singapore through low-cost, real-time remittances.

Continue reading — free with login

JeetoBharat publishes daily UPSC current affairs mapped to the Mains syllabus. Log in to read full articles.

Log in to read full article

No credit card required. Free registered users get unlimited access.

This article was curated using AI. While we strive for accuracy, please verify critical facts from official sources.