Why In News ?

• Recently, the Union Education Minister of India embarked on a three-day visit to Singapore with an aim to strengthen existing ties and promote bilateral engagement in education and skill development.

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• India and Singapore have a history of close ties rooted in a millennium of strong commercial, cultural and people-to-people ties.
• The modern connection is attributed to Sir Stamford Raffles, who established a trading post in Singapore in 1819 on the way to the Strait of Malacca.
• After independence, India was one of the first countries to recognize Singapore in the year 1965.
• Singapore is one of India's largest trade and investment partners in ASEAN and accounted for 27.3% of India's total trade with ASEAN in 2021-22.
• Singapore is also a major source of foreign direct investment in India.
• The total investment from Singapore to India in the last 20 years is around $136.653 billion and is around 23% of the total FDI inflows.
• The Comprehensive Economic Cooperation Agreement (CECA) was signed between India and Singapore in the year 2005.