Singapore's Minister-in-charge of Trade Relations S Iswaran and Maharashtra's Chief Minister Devendra Fadnavis, chairing the inaugural Maharashtra-Singapore Joint Committee meeting yesterday in Mumbai, signed a framework agreement to facilitate Singapore investments into the state.
They agreed to jointly work on the masterplan and airport for Pune, which is Maharashtra's fastest growing IT and manufacturing hub, said the Ministry of Trade and Industry in a statement on Wednesday.
They also agreed to look at collaboration opportunities in Maharashtra's aviation, urban infrastructure and port and logistics sectors.
The ministers also witnessed the signing of an MoU between Enterprise Singapore and Pune Metropolitan Region Development Authority (PMRDA) to collaborate on the planning and development of the Pune Metropolitan Region (PMR).
PMRDA also presented a Letter of Award to Singapore's Surbana Jurong as its appointed master planner.
The Maharashtra Airport Development Corporation (MADC) also presented a Letter of Award to Changi Airports International (CAI) for advisory services for the proposed new Pune Airport.
Enterprise Singapore, a state agency promoting investments, will work with PMRDA to identify key developments in the region and facilitate the participation of Singapore companies in urban infrastructure, transport and logistics, and manufacturing.
Enterprise Singapore will also conduct activities for knowledge exchange in urban planning and development with PMRDA.
Mr Iswaran said: "The partnership with Maharashtra marks another key milestone in our bilateral economic ties with India.”
"Our collaboration on the Pune Metropolitan Region including the development of the Pune masterplan and Pune Airport will deepen our engagement with Maharashtra and open doors to greater opportunities for our companies".
It will also strengthen Singapore's reputation and expertise in smart city development and urban rejuvenation, he added.
"We will work together to promote Maharashtra as an investment destination for Singapore companies, anchored by impactful and mutually beneficial projects," Mr Iswaran said.
Tan Soon Kim, Assistant Chief Executive Officer of Enterprise Singapore said: "The MoU between Enterprise Singapore and PMRDA adds to our strong partnership and will boost Singapore companies' participation in urban infrastructure, transport and logistics, and manufacturing opportunities in the region".
While in India on May 17, Mr Iswaran will also make a visit to New Delhi to meet with members of the Indian Cabinet.
He is accompanied by officials from the Ministry of Trade and Industry and Enterprise Singapore, the statement added.