The Economic Relationship Between India And Singapore(1990-2002)

In the late 1980s, the realignment in global politics subsequent to the break-up of the erstwhile Soviet Union and the impact of the Gulf War on India's economy ushered in a sea change in the bilateral relationship. Both India's "Look East" policy and its economic liberalization efforts coincided with Singapore's regionalization strategy of investing in emerging economies, providing a common ground for co-operation. Since then, there have been many high-level visits exchanged between the two countries, including Head of State and Head of Government visits. Bilateral agreements on Avoidance of Double Taxation, General Economic Co-operation and Co-operation in Shipping, Tourism, Civil Aviation, Information Technology and Science and Technology have been signed between India and Singapore. On behalf of the private sector, CII signed a co-operation agreement with the Singapore Confederation of Industry in 1994, and subsequently opened an office in Singapore. On the international front, Singapore has played a leading role in ensuring India's inclusion in ASEAN, first as Sectoral Dialogue Partner (Singapore, 1992) and then as Full Dialogue Partner (Bangkok, December 1995), which in turn ensured India's membership in the ASEAN Regional Forum (ARF). Singapore has also supported India's participation in the APEC Working Groups and India's candidatures in other multilateral fora, including UN organizations.