India on Monday searched investment in Singapore in recently launched National Infrastructure Pipeline (NIP), where the government intends to maintain infrastructure improvement projects worth more than 102 trn.
During a meeting between Indian Finance Minister Nirmala Sitharaman and Singapore Senior Minister and Coordinating Minister for Social Policies Tharman Shanmugaratnam, it had been determined that both nations will take forward the alliance on Networked Trade Platform Initiative of Singapore.
The two ministers agreed on intensifying pro level talks on this problem and concretise the way ahead.
The Networked Trade Platform (NTP) developed by Singapore Customs and GovTech is a one-stop commerce and logistics ecosystem that supports digitalisation attempts and connects gamers throughout the trade value series in Singapore and overseas.
“Finance Minister Smt. @nsitharaman encouraged investors from #Singapore to research the recently established National Infrastructure Pipeline and become partners into the large drive that Government of #India is currently envisaging for India’s infrastructure sector,” the finance ministry said in a tweet.
Last week, the finance ministry introduced Rs 102 trillion of infrastructure projects which are going to be implemented in the following five decades as part of their government’s spending push from the infrastructure industry.
These jobs are in addition to Rs 51 trillion invested by the Centre as well as the countries during the previous six decades. The new pipeline is made up of 39 percent jobs each from the Centre and countries and the equilibrium by 22 percent by private industry.
“FM also voiced pride at the work of this Joint Working Group on Fintech setup between #India and #Singapore and also encouraged the Working Group to research the long-term chances that are destined to develop manifold with more electronic platforms getting functional,” it stated.
“#Singapore’s Senior Minister and Coordinating Minister for Social Policies extended Singapore’s support for India’s G20 Presidency in 2022 and voiced Singapore’s strong appetite in partnering with #India to make sure the India hosts a prosperous G20 Presidency,” it stated.