Singapore President meets President Mukherjee, PM Modi

9 02 2015

Feb 9
President of Singapore Dr. Tony Tan Keng Yam was accorded a ceremonial reception at Rashtrapati Bhavan today. President Pranab Mukherjee and Prime Minister Narendra Modi welcomed Dr Yam and his wife Mrs. Mary Tan at the forecourts of Rashtrapati Bhavan. He was also given a Guard of Honour there. Later Dr Yam laid a wreath at the Samadhi of Father of the Nation Mahatma Gandhi at Raj Ghat.
The visiting dignitary met Prime Minister Narendra Modi and External Affairs Minister Sushma Swaraj and discussed issues of mutual interest. President Pranab Mukherjee is hosing a banquet in the honour of the Singapore President.
Dr Yam who is on a four day visit to India arrived in New Delhi yesterday to attend the golden jubilee celebration of India-Singapore relations.
AIR correspondent reports that Singapore is one of India’s major trade and investment partner. Bilateral trade expanded after the conclusion of Comprehensive Economic Cooperation Agreement, CECA from 6.65 billion dollars in 2004-05 to 25.2 billion in 2011-12. However it declined to 19.27 billion dollars in 2013-14.
Singapore emerged as the largest source of Foreign Direct Investment, FDI into India in 2013-14 with 5.98 billion dollars accounting for about 25 per cent of FDI inflows. Banking, pharmaceuticals, telecommunications and information technology have been the focus of such portfolio investments, besides investments in ports, airports and infrastructure projects.