PM Lawrence Wong's Interview with Hindustan Times (Sep 2025)

Rezaul Hasan Laskar (Hindustan Times): Hello and welcome to a very special interview for the Hindustan Times. Our guest is Prime Minister Lawrence Wong of Singapore, who is in India on his maiden visit in that role. But he is no stranger to India, and we are going to take a quick look at India-Singapore relations in very challenging geopolitical circumstances, and where the two countries see themselves on the regional and international stage.

Prime Minister Lawrence Wong: Morning.

Hindustan Times: Good morning, Prime Minister. Thank you for doing this. We have had the third meeting of the India-Singapore Ministerial Roundtable, and it is a very unique mechanism between the two countries. How do you assess the last meeting, and how has it advanced cooperation between India and Singapore?

PM Wong: The ISMR (India-Singapore Ministerial Roundtable) has made a lot of progress. And I should give some context, because the first ISMR was convened in 2022. At that time, Singapore was undergoing our leadership transition. My colleagues and my peers had just chosen me to lead the team in Singapore, so there was an expectation that I would take over as Prime Minister – no one knew exactly the timing when, but that was the context. And we were asking ourselves, also at that time, questions about how can we inject new energy into the bilateral relationship between India and Singapore? Because we have already had the CECA (Singapore-India Comprehensive Economic Cooperation Agreement), that is a landmark agreement, and it was a breakthrough for India, for Singapore. But years have passed, and we wanted to do something more. So how could we put in fresh energy and take the relationship forward?

And that is when the idea of the ISMR came about, and I decided to lead the first ISMR; I brought a delegation of ministers to New Delhi to meet with their counterparts. And that was unique, because then we did not just discuss cooperation on a ministry-by-ministry basis. We could look at it from a more strategic perspective and see how we can bring our two countries closer together across a wide range of different areas. And we also brought business leaders – as a business roundtable – CEOs of leading companies on both sides to come together. So as the ministers met, the CEOs also met to see how we can forge closer business links. And I remember in that meeting in 2022 we had very good discussions and very good ideas. And I had the chance to call on Prime Minister Modi then, and he was very gracious and warm in his interactions with me and fully supported the ideas that the ISMR put up.

Some time has passed since then – three years have passed. I have handed over the Singapore leadership of the ISMR to my Deputy Prime Minister. They (the Singapore and India ISMR ministers) have met recently, continued to put up very good ideas and advance our cooperation further. So when Prime Minister Modi and I last year announced our agreement to upgrade our bilateral relations to a Comprehensive Strategic Partnership, it is not just in name, it is in substance. And there is a lot of substance now in terms of new cooperation that we are pursuing. And so this year, when I am here in India for my first official visit as Prime Minister, we look forward to taking things forward and institutionalising the ISMR as a bilateral mechanism. It is a unique mechanism that will enable us to forge closer links with one another, strategically.

Hindustan Times: You are meeting Prime Minister Modi tomorrow. Not to prejudge, but what do you think are going to be some of the major takeaways or key outcomes from your discussions?

PM Wong: There will be a lot to discuss, and one of the key items that the officials have been planning for is for both leaders, both of us, to announce a roadmap for the CSP, for the Comprehensive Strategic Partnership. Last year, we agreed to upgrade it. This year, we want to have clarity around what the CSP means. So we will have a roadmap, an ambitious roadmap, setting out all the different areas of cooperation and how we want to pursue them further, the different pillars, and this will give clear direction and vision for the next phase of India-Singapore relations. And there is a lot to talk about.

For example, on economic cooperation, we have very close cooperation. We will be discussing how we can bring it even closer in areas like semiconductors and industrial parks, which India is pursuing. In the areas of skills development, we are supporting one of India's National Centre of Excellence for Skilling. In the area of connectivity, be it in maritime, air or digital connectivity, there is a lot of cooperation which we are pursuing too. And we are also discussing new areas of cooperation, for example, in space, where India has tremendous strengths, and we have had Singapore low-orbit satellites being launched right here in India. And again, it is an area where we think there is a potential for us to do more together.

So it is going to be a full agenda in our discussions, and I am looking forward to having that discussion with Prime Minister Modi to see how we can crystallise and take further all of these different areas of cooperation. It is also quite remarkable, if you think about it, the last time when Prime Minister Modi and I met, it was last year. He had just had his election. Soon after he entered his third term, he visited Singapore. Now, a year later, soon after my election, I am visiting India. It is almost precisely, exactly to the same date, one year later, and within that short period of time, a lot of that cooperation has continued to advance further. And that is what the India-Singapore cooperation is based on – not just on words and rhetoric, but also on concrete action and outcomes. And I believe in this very turbulent world that we are in, the bilateral relationship between our two countries has become more important than ever.

Hindustan Times: You mentioned semiconductors and skilling. I was wondering if you could throw some light on what is the progress that has been made? Clearly, Singapore wants to help India create a semiconductor hub. You want to upskill people. Why is it important for Singapore to see India moving up the centre of the value chain?

PM Wong: We have made good progress in this area of cooperation. It was something that Prime Minister Modi raised with me when he visited Singapore last year. Since then, we have signed an MOU and we have made progress across three different areas. One, in having a green lane for semiconductor goods, because the semiconductor industry is not just about making the chips. You need raw materials, you need equipment, you need suppliers. So we are trying to bring the two ecosystems closer together through a green lane that will facilitate exchange and will align best practices and standards. That is very important.

Second, in skills development, because with semiconductors, you need skilled technicians and workers. So we are supporting India's development of skills in this area, including discussing the potential of doing a joint skills training centre in Gujarat for semiconductors. And thirdly, in collaboration around research and innovation, where we have some strengths, and we think India potentially can do a lot more, and we will see how we can work together in these areas too.

Why is Singapore interested in all of these? Well I offer you three reasons. First, semiconductors are important in today's economy. You need chips to propel the digital economy forward, and given the strategic importance of semiconductors, we do want in the world a more diversified and resilient supply chain. And India can contribute to this. Second, we have companies in Singapore that are interested in the opportunities that India offers. Many of the semiconductor players in Singapore are leading global companies. They make their own decisions, but we do have Singapore suppliers that are part of that semiconductor ecosystem, and they are very keen to see how they can come to India and forge links with Indian players and have opportunities here to grow their business. And that is why even when India now is having a SEMICON event, we have a large contingent of Singapore businesses participating in India's SEMICON event, because they hope to forge closer links and seize the opportunities that India offers. Thirdly, I would say, a strong and rising India contributes to stability, resilience and shared prosperity in Asia. And that opens up new opportunities not just for India itself, but for its partners around the region, and that is why we are keen to see how we in Singapore can play a part in supporting India's development in this industry.

Hindustan Times: You mentioned the geopolitical circumstances, I think they have changed tremendously. Even every week, they seem to be changing.

PM Wong: Every day, got something new coming up from the news.

Hindustan Times: So in these circumstances, is India still a safe bet for Singaporean investors? Because you are probably the largest investor in India. And what are your plans for investments going forward in India?

PM Wong: With investments, there is never a safe bet. If you want a safe bet, then you do not make any money. You must take risks, and there will always be short-term volatility with investments. But we try to take a long-term perspective, and from that point of view, we are optimistic about India's growth prospects, because of your youth, young population, your rising middle class, your dynamic tech sector, and importantly, a government that is committed to reforms.

Our confidence in India is not new. It is not a recent thing. It is longstanding, and it is backed by proven track record and actions. We had the CECA agreement 20 years ago, and now since then, our trade has grown by two and a half times. And as you said just now, Singapore is the largest investor in India – I think for seven consecutive years now. So we will continue to invest in India. We will continue to have confidence in India's prospects for the future. As to what industries and what areas, well, we have to leave it to the private sector. The government itself is not investing, but we set the conditions. We set the framework. We provide the overall environment for businesses and investors to come together. And I think there will be many opportunities opening up. From what we understand when we engage businesses and investors in Singapore, there is a lot of interest, for example in areas like hospitality, advanced manufacturing, sustainability, logistics. So these are all areas potentially where we can see more investment flows coming into India from Singapore.

Hindustan Times: How are you looking at India to help Singapore in green energy, which is now the new thing, and especially for climate mitigation. And is there any interest in also working with India for food security?

PM Wong: We have an interest for both. For green energy, we are doing our part to accelerate Singapore's decarbonisation journey. It is more difficult for Singapore I think, compared to many other countries because of our constraints – we are a city state, we do not have a lot of land, we do not have access to renewable energy at scale. So the decarbonisation journey for Singapore will inevitably consist of a mixed portfolio of solutions – no single solution, but a mix of different options for us, including importing green energy from around us, from our neighbours, which we are working on in ASEAN, possibly low carbon hydrogen. It could include carbon capture or carbon credits, for example. And we are also exploring the possibility of other options, including civilian nuclear power.

Hindustan Times: SMRs (Small Modular Reactors), maybe?

PM Wong: Possibly. We are trying to build up capabilities to understand the technology better because we do see new technologies, be it SMR or even further out into the future, fusion, nuclear fusion, which are safer and could potentially be deployed even in a small city state like Singapore. So we are just at the stage of building up capabilities to understand these possibilities. So we are working on all of these options. And again, it is an area where we would very much be interested in working closely with India to strengthen our links and collaboration across the range of different options, on energy security and on the transition to a low carbon economy.

For food security and for food trade, we already have very close links. Where food is concerned, we are trying to do some domestic production, but it will be very limited given where Singapore is. So the reality is we will always be importing most of what we eat in Singapore. So our food security strategy is one of diversification. And there again, we see India as a potential source. We already import a lot of rice from India. A lot of spices come from India. And our agencies are continuing to engage one another. We have discussed this, the ministers have discussed this at the ISMR; how we can facilitate more trade, how we can have more exchanges amongst the agencies where food safety and regulatory standards are concerned, and we will continue to welcome more food imports from India as a way to diversify our food sources and enhance our food security.

Hindustan Times: One of the first places where India tied up for real-time digital payments was with Singapore.

PM Wong: Yes, the UPI-PayNow linkage, which has been very successful.

Hindustan Times: Yes. Where do you see the digitalisation journey going? What are we going to do next? What is the next step that you are going to take?

PM Wong: This is one area where we believe there is potential to do more. We started with the UPI-PayNow linkage, and already it has expanded to more financial institutions and banks. I think it has been very effective for both sides. We can see how we can be more interoperable with this payment linkage. We have also done digital linkage in other areas like in digital documentation for shipping and trade, so that helps with a more seamless business process. Our central banks are talking about digital assets and how we can collaborate more. So these are all potential areas to do more together.

But more fundamentally, I would say there is scope for us to think about having a more seamless cross-border data exchange between our two countries. Because data is what underpins a lot of the activities for finance and for the digital economy, and you need that ability to exchange data more seamlessly. So we are exploring the possibility of a pilot cross-border data corridor between India, potentially in GIFT City (Gujarat International Finance Tec-City) and Singapore. And if we can get that going, I think that will potentially allow us to, from the pilot, understand what are the parameters, what are the concerns that both sides may have.

Hindustan Times: Is this the Digital Sandbox that we will be doing?

PM Wong: That is right. So we are thinking of it through a regulatory sandbox, which we can start exploring, and that can help take things forward. So that is something that the ministers had discussed at the ISMR, and we are hopeful that we can advance this particular pilot and regulatory sandbox idea. Beyond the data itself, we want to collaborate in other areas, including in capital markets, for example, expanding our cooperation there. So the nexus between data and Fintech is very close – very, very close nexus – and I think there is a lot of potential for us to do more in this space.

Another related area in the digital space is AI – Artificial Intelligence – where, again, it is underpinned by data, but also on top of that data infrastructure, you have a lot of new applications and new technologies. And that is also an area where the ministers had some discussions, and we hope to see closer collaboration.

Hindustan Times: Possibly on AI hubs?

PM Wong: Possibly, a whole range of possibilities because with AI, you need the data infrastructure, then the data link becomes important. But on top of that, you have your models, you have your applications, you have industry specific models too, and applications.

Hindustan Times: And trust.

PM Wong: And trust. You got to think about safety, responsible use of AI. You got to think about research and new frontiers for Artificial Intelligence. All of these have potential for us to collaborate on.

Hindustan Times: Singapore has possibly been one of the strongest votaries of a closer relationship between ASEAN and India. India has, of course, been asking in recent months for a review of the AITIGA (ASEAN-India Trade in Goods Agreement). What are Singapore's views of that? I mean, the Indian side feels the process has gone on for too long. And what do you think can be done more to drive trade between India and ASEAN?

PM Wong: We believe the ASEAN-India relationship is a very important and critical one. These are longstanding ties, civilisational ties, grounded on trade and cultural exchanges over a long period of time. And within that context, the AITIGA is an important part of this overall relationship. So the review is ongoing. We understand India's concerns. We hope there will be flexibility on the part of the officials that are in the midst of the discussions so that they can reach a mutually acceptable outcome for all parties, because we want that trade to continue flowing. We want to have closer ties between ASEAN and India.

And quite aside from besides just trade in goods, I think we can forge closer ties in other areas too – connectivity, services, in digital connectivity. ASEAN is trying to integrate our economies of ASEAN with a digital economy agreement. And if we can do that together with India, I think that will potentially yield a lot of new opportunities. ASEAN is trying to connect ourselves with an ASEAN power grid, and to link ourselves up more in terms of sustainability and green energy. And again, there is potential for us to do more with India.

At the strategic level, the ASEAN-India ties are of critical importance, because the centre of gravity of the global economy will, over time, shift toward Asia. Within Asia, we already have China as one growth engine. India will be the second growth engine – there is no doubt. We think that ASEAN can be the third. And combined, these growth engines will contribute to the stability, resilience, and continued prosperity of Asia. So it is within that context that there is a strategic imperative for closer ASEAN-India ties, and we want to encourage India to continue with its Act East policy and Singapore will do our part to facilitate these closer links between India and ASEAN.

Hindustan Times: You are here at a very interesting time when India and China are kind of rebuilding their relations, and then we have had the trade tensions that are going on – India-US, US-China. How do you look at these pulls and pressures and how can India and Singapore work together to kind of address all the uncertainty that we are seeing?

PM Wong: The world is indeed going through profound changes. The two largest superpowers, America and China, have a critical relationship, and it is a relationship that will be the most consequential relationship in the world. The two economies are deeply intertwined, so any attempts at a full decoupling between the two will be highly damaging and destabilising. It is not going to be cost-free at all. Even a trade war between the two will damage the two economies and will send shockwaves across the global economy. So while the America-China relationship is no longer the same as before – it will be characterised by intense competition and rivalry – there is still a need for dialogue and engagement, and I am glad both sides are talking, and I hope they will find ways to put guardrails around the relationship, and find ways to manage their differences and eventually land on a good outcome. Likewise, we hope that America and India will be able to continue their engagement and dialogue and find ways to address some of the issues that have emerged more recently.

Singapore watches all this with great concern. I mean, there is not much we can do when it comes to US-China, US-India; but we watch with great concern, because we are a small and open economy, very reliant on external demand, and all of these global uncertainties, the additional barriers to global trade will impact on external demand, and will have an impact on our small economy.

So we are concerned about the developments. We will try to do our part to facilitate discussions and engagement and dialogue where possible, but the one thing we can do proactively is to work with like-minded countries. Work with like-minded countries to foster closer links, to operate on the basis of a rules-based trading framework to bring our economies closer together and to find win-win outcomes. And we believe we can do so with India, because we have with India a strategic partnership built on 60 years of friendship and trust. So in this very uncertain world, there is all the more reason for us to double down on this very critical India-Singapore relationship, and I certainly look forward to doing so with Prime Minister Modi.

Hindustan Times: Thank you so much for your time and for a very interesting conversation.

PM Wong: Thank you. Good talking to you.

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