PM Modi in Singapore gave the keynote speech at the Fintech Festival
Prime Minister Narendra Modi is in Singapore for the ASEAN-India and East Asia Summits. He participated in the Regional Comprehensive Economic Partnership Leaders' Meeting. "My participation in these meetings symbolizes our continued commitment to strengthening our engagement with ASEAN Member States and with the wider Indo-Pacific region. I am looking forward to my interactions with other ASEAN and East Asia Summit Leaders," he had said ahead of his visit.
PM Modi also met US Vice President Mike Pence. He became the first head of government to deliver the keynote speech at the Singapore Fintech Festival. In his speech, PM Modi highlighted how India has become the best destination for start-ups. During his visit, he is also scheduled to interact with the participants and winners of the joint India-Singapore Hackathon.
"It is my firm belief that if we provide the right encouragement and a nurturing ecosystem, our youth has the ability to become global leaders in providing solutions to the challenges facing humanity", PM Modi said. He also said that he is confident that the visit to Singapore will impart fresh momentum to our growing partnership with ASEAN and East Asia Summit nations.
Here are the Highlights from PM Modi's visit to Singapore:
Prime Minister Narendra Modi highlighted the need for an early conclusion of the Regional Comprehensive Economic Partnership (RCEP) agreement through multilateral and bilateral talks among the member countries.
"India and USA are time tested friends, who are cooperating on several subjects. Our talks today will further enhance the strong relations between our countries," Prime Minister Narendra Modi tweets after meeting Vice President of the US Mike Pence.
Prime Minister Narendra Modi attends a the dinner hosted by Prime Minister of Singapore Lee Hsien Loong.
PM Modi attends the second RCEP Summit in Singapore with 16 member states.
Prime Minister Narendra Modi and his Thailand counterpart General Prayut Chan-o-cha hold talks in Singapore. Issues relating to trade, commerce and connectivity were among the various subjects discussed by the leaders.
Prime Minister Narendra Modi met Australian PM Scott Morrison earlier this afternoon.
Ministry of External Affairs tweeted an image of the two leaders and said,
"Taking stock of the relationship.
PM @narendramodi met with PM of Australia @ScottMorrisonMP on the margins of #EastAsiaSummit in Singapore. Both leaders had a good discussion on deepening ties in trade & investment, defence & security and other areas of bilateral cooperation."
Prime Minister Narendra Modi and US Vice President Mike Pence held talks on Wednesday on a wide range of bilateral and global issues of mutual interests including defence and trade cooperation, ways to counter terrorism and the need for maintaining a free and open Indo-Pacific, according to Press Trust of India.
Prmie Minister Modi will also attend the 13th East Asia Summit (EAS) and Regional Comprehensive Economic Partnership (RCEP) Summit hosted by Singapore as the current Chair of ASEAN grouping.
As strategic partners, India and ASEAN enjoy close trade and economic relations.
Trade between India and ASEAN stood at USD 81.33 billion in 2017-18 and constitutes 10.58 per cent of India's total trade. Exports to ASEAN countries constitute 11.28 per cent of India's total exports.
In the statement made on behalf of PM Modi, he extended his wishes to US President Donald Trump who held Diwali celebrations in the White House on Tuesday. He also expressed his condolences to those affected by the California Wildfire. He then spoke about the elevation of Indian-origin Neomi Rao and his announcement to nominate her to fill Brett Kavanaugh's former seat on the D.C. Circuit Federal Court of Appeals Indian. Inducting an Indian Americans a woman is a big deal, he said thanking President Trump for it.
"India is with you on every issue that concerns world peace, democratic values... Bring out change in people's lives," the statement added.
"Looking forward to talking about our ongoing efforts of denuclearisation. India's strong support will be grateful. Even as president moves towards another summit with kim," said US Vice President Mike Pence. "The largest and oldest democracies in world have much in common. Free markets and finding more ways to have reciprocal economic exchange and trade," Mike Pence added.
PM Modi meets US Vice President Mike Pence in Singapore
Prime Minister Narendra Modi met Prime Minister of Singapore Lee Hsien Loong on the sidelines of East Asia Summit. "Good exchange of views on cooperation in financial technology, enhanced connectivity and regional economic integration," the foreign minister tweeted.
India is your best destination for investment. Development of all and development of the most marginalised should be our motto, says PM Modi in his keynote address
- There is an explosion of fintech innovation and enterprise in India. It has turned India into a leading fintech and startup nation in the world. The future of fintech and industry 4.0 is emerging in India
- Our youth are developing apps that are making dreams of paperless, cashless, and yet safe and secure transactions for all
- We see inspiring stories of extraordinary innovation changing ordinary lives
- But there is much to be done
- India is a nation of diverse circumstances and challenges
- Our solutions must also be diverse
- Our digitization is a success because our payment products cater to everyone
- 128 banks in India are connected to UPI payment
- UPI grew 1500 times in 24 months
- BHIM-UPI is the world's most sophisticated, simple and seamless platform for payments between accounts, using a virtual payment address
- For those who have neither mobile not internet, there is Aadhaar Enabled Payment System, which uses biometrics. And, it has already registered a billion transactions and grown six-fold in 2 years
PM Modi's keynote address at Fintech festival
- The Fintech Festival is also a celebration of belief
- Belief in making the world a better place
- From internet to social media, we have come a long way in a short while. Technology is defining competitiveness and creating opportunities to transform lives
- My government came to office in 2014 with a mission of inclusive development that would change the lives of every citizen, even the weakest in the remotest village
- We have opened 330 million bank accounts, more than a billion cellphones
- We are in an age of a historic transition brought about by technology. From desktop to cloud, from internet to social media, from IT Services to Internet of Things, we have come a long way in a short time. There is daily disruption in businesses.
- The character of the global economy is changing. Technology is defining competitiveness and power in the new world. And, it is creating boundless opportunities to transform lives
- Financial inclusion has become a reality for 1.3 billion Indians, says Prime Minister Narendra Modi at Fintech Festival
PM Modi is to address the Singapore Fintech Festival soon. He will speak about the Fintech sector and India's strides in this sphere.
PM Modi also said he was confident that his visit to Singapore would impart fresh momentum to New Delhi's growing partnership with ASEAN and East Asia Summit nations.
Mike Pence will participate in a bilateral meeting with PM Modi, the White House said Tuesday releasing the schedule on the eve of the meeting.
the meeting is scheduled to take place 12.30 pm local Singapore time, during which the two leaders are expected to discuss bilateral defence cooperation and a common vision for maintaining a free and open Indo-Pacific, the White House said.
PM Modi will address the Singapore Fintech Festival tomorrow morning. He will talk about the Fintech sector and India's strides in this sphere.
Fintech refers to computer programs and other technology used to support or enable banking and financial services.
Extremely touched by the affection of the Indian community in Singapore. Their warm welcome, so early in the morning amidst the rain, was touching. India's diaspora makes our nation very proud. They have succeeded all over the world, in a wide range of areas, PM Modi tweeted.
Prime Minister's programme in Singapore today
1015 hrs -Keynote Address at Singapore Fintech Festival 2018.
1045 hrs - Visit to India Pavilion.
1130 hrs -Meeting with H.E. Mr. Lee Hsein Loong, Prime Minister of Singapore
1230 hrs -Meeting with H.E. Mr. Michael R. Pence, Vice President of the United States of America
1530 hrs -Meeting with The Hon Scott Morrison MP, Prime Minister of Australia
1640 hrs -Meeting with H.E. General Prayut Chan-o-cha, Prime Minister of the Kingdom of Thailand
1700 hrs -RCEP Summit
1900 hrs -Gala Dinner hosted by H.E. Mr. Lee Hsein Loong, Prime Minister of Singapore
(All times local, approximately)
While in Singapore, PM Modi will have a number of high-profile multilateral and bilateral meetings with global leaders including US Vice President Pence and Singapore premier Lee Hsein Loong.
Prime Minister Narendra Modi being greeted by the Indian community at The Fullerton Hotel in Singapore.
PM Modi being greeted upon his arrival in Singapore