External Affairs Minister S Jaishankar has said that Singapore has become a fulcrum for India’s economic and commercial policies.
Addressing the inaugural session of ‘Start-Up and Innovation Exhibition’ in Singapore, Jaishankar said, “In political, strategic as well as economic and commercial areas, Singapore has become a fulcrum for India’s policies. Today, what started as a bilateral relationship is something that has grown very much bigger. On rule-based issues, we think similarly.”
During the Plenary session, the minister recalled that India and Singapore came together in a very contemporary phase, at a time when the world was changing, including India.
“The two changes (India and Singapore) had something to do with each other,” he said.India, at that time, had a severe balance of payments crisis and was embarking on radical economic reform. “In that situation, India turned to Singapore and Singapore responded. We had the Look East Policy. Singapore then became a key partner in India’s growth and development,” Jaishankar added.