India and Singapore cooperating in critical sectors like advanced manufacturing and semiconductors

New Delhi,  : India and Singapore are cooperating in critical sectors like advanced manufacturing and semiconductors as the relations are on a "new trajectory" of growth, Singapore President Tharman Shanmugaratnam said on Thursday.

Shanmugaratnam, on a five-day visit to India, held separate talks with President Droupadi Murmu and Prime Minister Narendra Modi with a broad focus on further expansion of the bilateral ties.

The Singapore president told reporters that a data corridor between the GIFT City in Gujarat and his country is being explored so that the financial institutions of the two sides can exchange data on a safe and trusted basis.

He said the possibility of a "corridor for renewable energy" between India and Singapore is also being looked at.

Delving into strong Singapore-India ties in the last few decades, he said the two countries are now on a new trajectory of cooperation after the ties were upgraded to a comprehensive strategic partnership during Modi's visit to the city state in September last year.

We are exploring new initiatives going beyond the existing active relationship that we have. We are cooperating in advanced manufacturing and semiconductors," he said.

Shanmugaratnam said both sides are also working on new "generation and net zero" industrial parks besides focusing on skilling for new industries

"In the digital space, we are exploring the possibility of a data corridor between GIFT City and Singapore so that our financial institutions can exchange data on a safe and trusted basis," he said.

The visiting leader said sustainability is a major priority for both India and Singapore.

"We are working actively to look at whether a corridor for renewable energy between India and Singapore can be achieved," he said.

"I am optimistic about our relations with India. I am optimistic because our leaders see eye-to-eye. We are natural partners. Singapore has invested in India's ambition to be a developed country by 2047," he said.

The Singapore president also referred to how India recognised his country around six decades ago.

"We will never forget that India was one of the first few countries to recognize Singapore's independence in 1965. And since then our relationship has grown by bounds," he said