In Short:
During a recent press briefing, Jaideep Mazumdar from the Ministry of External Affairs announced that Prime Minister Narendra Modi will visit Brunei and Singapore from September 3-5. This is Modi’s first visit to Singapore in six years, where India hopes to enhance semiconductor cooperation, as Singapore has over 20 years of experience in this field. Additionally, there will be discussions on space and defense collaboration with Brunei, particularly in telemilitary tracking. India imports around USD 270 million in hydrocarbons from Brunei, primarily crude oil, and food and natural gas imports could increase in the future.
PM Modi Set for Upcoming Visits to Brunei and Singapore
New Delhi: In a recent press briefing held on Monday, Jaideep Mazumdar, the Secretary East in the Ministry of External Affairs, unveiled exciting news about Prime Minister Narendra Modi‘s upcoming trip. The PM is scheduled to visit Brunei from September 3-4 and Singapore from September 4-5, marking his first visit to these nations in six years.
Boosting Semiconductor Cooperation with Singapore
When asked about potential collaborations in the semiconductor realm during PM Modi’s visit to Singapore, Mazumdar expressed strong optimism. He stated, “India is keen to delve into this sector and is eager to foster cooperation with Singapore.” He emphasized that Singapore’s well-established presence in the global semiconductor market, with over 20 years of experience, makes it an indispensable partner for India.
“Singapore is very well-plugged into the global semiconductor ecosystem,” he continued. “We are already exploring cooperation avenues. If Singapore is setting up facilities in India, many other semiconductor-related topics will be on the table during the visit. We hope this trip will propel our collaborative efforts in this critical area.”
The economic backdrop is also promising, with Singapore’s Foreign Direct Investment reaching a solid USD 11.77 billion last year.
Exploring Space and Defence with Brunei
Turning to defence and space cooperation, Mazumdar highlighted ongoing initiatives with Brunei in telemilitary tracking and command technologies. “We are committed to advancing this cooperation as technology evolves and our needs grow,” he said, hinting at forthcoming discussions and collaborations in this sphere.
Hydrocarbon Trade Dynamics
Touching on bilateral trade figures, Mazumdar noted, “Our trade relationship with Brunei stands at about USD 250 million, with hydrocarbon trade making up approximately 60-70 percent of that, which translates to around USD 270 million worth of crude oil. While this may not seem substantial at the moment, the potential for natural gas imports could see significant growth.”
