According to reports, Singapore and India are exploring signing a Letter of Intent (LoI) for a green digital shipping corridor (GDSC), which is expected to link the Indian marine sector to the global network. The letter of intent is expected to be signed during shipping Minister Sarbananda Sonowal's visit to Singapore next week.
The Singapore Maritime Week (SMW), which is taking place here from March 24 to 28, is anticipated to be attended by Sarbananda, Minister of Port, Shipping, and Waterways, and a delegation.
"We are thinking of establishing a letter of intent with India as a start. It is something we are still working towards," says Teo Eng Dih, chief executive of the Maritime and Port Authority of Singapore (MPA), which is hosting the week-long maritime event.
Although specifics have not yet been finalized, MPA stated that the LoI is anticipated to be signed during SMW itself.
Teo stated that India is eager to share its digital know-how and sell green energy, including biofuels, to the area.
Through the Singapore maritime ecosystem, which has been ranked as one of the world's largest shipping and marine trade hubs by industry analysts, the GDSC will connect the Indian maritime sector to the global network.
Maritime ministers from Estonia, France, Portugal, Norway, and the Netherlands will also attend the SMW.
An 'India Pavillion' will be built at the show by Indian ports, shipyards, and industries to promote the Indian minister's visit.
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According to MPA, the following companies are participating in the pavilion: Swan Defence and Heavy Industries, Chowgule Shipyard, Garden Reach Shipyards and Engineers, San Marine Shipyard, Synergy Ship Builders, Indian Ports Association, Cochin Shipyard, Indian Maritime University, Shipyards Association of India, and L&T Shipyard.