Modi to raise banking cooperation issue with Singapore Prime Minister

A statement on Regional Comprehensive Economic Partnership (RCEP) negotiations is also likely to be issued by the leaders of East Asia Summit.

During Prime Minister Narendra Modi’s forthcoming visit to Singapore, the contentious issue of cooperation in banking will feature prominently in the talks.

“Tensions and struggles don’t bring change”, he said, adding it must be all about how to integrate people. “I will expand on the need for closer economic cooperation and investment opportunities in India at the ASEAN Business and Investment Summit.”, he said. “We should strengthen efforts to prevent supply of arms to terrorists, disrupt terrorist movements and curb and criminalise terror financing”, he said.

Yet, it would be fair to say that Britain invested far more in the Modi visit than did India.

He also said the Indian community events were planned in Singapore and Malaysia as well. You can find about 2.4 thousand individuals of Indian foundation in Malaysia, constituting eight per cent of the citizenry in the nation. Earlier this year, Singapore “made it clear” to the Finance Ministry that it will not allow entry of Indian banks unless they meet the qualifying standards in terms of asset management ratio (AMR), sources associated with the development said.

After Malaysia, Modi will travel to Singapore. Besides, a civilian nuclear agreement with the United Kingdom is hardly beneficial to India.

Several of them have a track record of helping rebuild the city state’s ties with India during P.V. Narasimha Rao’s prime ministership after a prolonged period when bilateral relations hit a plateau or simply went downhill.

“Singapore’s success is indeed noteworthy”.

“Their achievements in urban development, urban transport, waste management, development of ports and skill development are well known”. “It is equally important to promote broader peace and stability in West Asia and Africa”, he said while adding this was also required for addressing the current refugee crisis.

On the sidelines of the the two summits, Modi is expected to hold bilateral meetings with the leaders of Japan, China and Malaysia and possibly those of Vietnam and Myanmar. However, as India develops and undertakes huge economic and corporate reform, exciting investment opportunities could present themselves, although a long-term horizon is essential.

Modi will visit Institute of Technical Education and pay homage at the INA Memorial Marker at Esplanade Park.

These prominent Singaporeans, majority of Indian ancestry, are fully trusted by authorities there and their advice on all matters highly valued. “We will interact at a community programme on the evening of 24th November”, he said.

“Build responsive, inclusive and collective solutions… this will be the theme when India assumes presidency of BRICS”, Modi said.