"Sustainability is a major priority for both countries. India is fortunate with solar and wind energy, and it is going to be a significant green ammonia producer. So, Singapore is keen to engage with India in the development of these sectors and also the green corridor leading to Southeast Asia, which may take more time but is a very important aspiration," the President Tharman Shanmugaratnam said.

Claiming that India is becoming a significant force in the global economy, the President of Singapore remarked on Saturday that his nation is working to enhance the semiconductor ecosystem and improve the air connectivity industry. "India aspires to be a pole in its own right, in a multipolar world that is true geopolitically, but it is also true economically. India is emerging as a major pole of the global economy. India is a nation with which we would like to collaborate," he said, while addressing the press at the conclusion of his two-day visit to Odisha.

"Because of its demographics, its own development processes, and significant potential in its export economy, India is a nation that Singapore would likely collaborate with," he added.

Stating that "India's priorities and Singapore's priorities are also very similar," the President added, "According to the priorities established under the India-Singapore Ministerial Roundtable, the two governments are working together to develop the semiconductor ecosystem in India. Singapore sees how it can contribute to the ecosystem and is also looking at new generation industrial parks, particularly Sembcorp is very actively exploring possible sites for development of new industrial parks."

Shanmugaratnam stated that both nations are putting significant effort into skill development, which is crucial for ensuring India's future.