Stating that India will work for an open, stable and fair international trade regime, Mr Modi said: “And, our engagement to our east will be among the strongest, and economics will remain an integral part of our Act East Policy.” He reaffirmed that India will work Asean to reach an early conclusion to Regional Comprehensive Economic Partnership (RCEP). It is a proposed free trade agreement between the Association of Southeast Asian Nations (Asean) regional bloc and the six states with which Asean has existing free trade agreements--Australia, China, India, Japan, South Korea and New Zealand.

Mr Modi arrived in Singapore on the third and final leg of his five-day tour of south-east Asia after making a brief stopover in Malaysia on his way from Indonesia. Prior to attending the business and community event, he, accompanied by Singapore Prime Minister Lee Hsien Loong, took a tour of the India-Singapore Enterprise and Innovation Exhibition at the Marina Bay Sands Convention Centre. The exhibition was organised by the Indian High Commission in Singapore in partnership with Enterprise Singapore, the Singapore Business Federation and the Singapore Manufacturing Federation. The business and community event saw the international launch of the RuPay, Bhim and UPI mobile apps. The signing of several memorandums of understanding between Indian and Singapore entities in areas of education and skill development, space, and food processing was also announced.