The Prime Minister of India, Narendra Modi, has been incredibly complimentary towards the people of Singapore for the amazing cooperation that they’ve shown with India (especially in the power and energy sector).
Understanding that it’s going to be necessary for the world’s “super powers” to work closely with India to bring it into modern times, and who also to help develop it into a global power of its own, the government of India – and specifically Prime Minister Narendra Modi – have been taking advantage of partnerships with major global powers to improve their infrastructure, build up their urban areas, and increase the amount of “business capital” that India is capable of producing.
Almost glowing with praise and incredibly generous with his positive remarks towards the great people of Singapore as well as those in the Singapore government that have worked so hard to make this partnership possible, the Prime Minister gave a rousing speech thanking Singapore for all of its assistance as he helped lay down the cornerstone of a new financial building in Mumbai.
The new financial building is expected to help more than double the capacity of India’s largest transportation port inside the next 24 months, which will only help to improve the overall global commerce prospects of India and all of the different nations that conduct business with them.
None of this would have been possible at all without a major investment from the people of Singapore, and the Prime Minister was sure to make this completely obvious to any and all in attendance. The Singapore government contributed a large portion of the funding, but they also helped as far as the engineering and overall development of the port was concerned as well.
As a big part of the “Made in India” campaign, a cornerstone and foundational aspect of the Prime Minister’s platform, this is just the latest development in a bilateral partnership between these two countries. Singapore contributed right around $1.23 billion (US) to the funding of the new port, and while another $237 billion needs to be realized for commerce projects all throughout the country, this was a major step forward.
Production in this port is expected to double inside of just the next 24 months, and with a handful of other strategic investments (some of them coming from Singapore again), the production capacity of the port should double every 24 months for the next 10 years.
Already handling upwards of 56% of all container loads that come into and go out of India, this was an incredibly important investment not only for the infrastructure and future of Indian business, but also as far as developing a major point of commerce in one of the world’s fastest growing economies is concerned.
Countries and businesses all over the world are going to be able to leverage the improved output from this port just as soon as possible, serving to improve the economy of India, but also helping countries to take advantage of all the business focused policies that India has recently rolled out.