Prime Minister Narendra Modi launched international Rupay Card, Bhim app and Unified Payment Interface for international remittance in Singapore today.

As part of India Digital Initiative, these financial remittances are for Indian diaspora in Singapore.

Addressing a big gathering of Indians at Marina Bay Sands Convention Centre, the Prime Minister said, India has warmest and close relationship with Singapore based on natural partnership and shared vision.

Mr Modi said, both India and Singapore are determined to upgrade and conclude Regional Comprehensive Economic Partnership for enhanced ties. The Prime Minister said, the economic transformation is underway in India at such a speed and scale that was not imagined a few years ago.

He said, India remains the fastest growing economy in the world with lowest fiscal deficit and inflation. He said, Indian currency is stable and foreign direct investments are growing.

Mr Modi elaborated on the growth story of India in the field of infrastructure, development and financial inclusion and the government's commitment to realise the dream of New India by 2022.

Addressing the Indian business and community event, the Prime Minister said, Indian diaspora in Singapore represents diversity of India.

Earlier, Mr Modi inaugurated the India-Singapore Enterprise and Innovation Exhibition at Marina Bay Sands Convention Centre.

Thirty companies from India and Singapore are taking part in the day-long event that displays products related to health care, digital payments, pharmaceuticals and manufacturing.

The exhibition of start-ups and innovations was organised by Indian High Commission in Singapore. The Prime Minister also witnessed a dance and yoga presentation. The performance titled "Anushasanam" depicted the benefits of the practice of yoga.

During this visit, Mr Modi will hold delegation level talks with his Singaporean counterpart Lee Hsien Loong, and deliver the key-note address tomorrow at the 17th Shangri La Dialogue.

He reached Singapore this afternoon on the final leg of his three-nation tour to South East Asia. The Prime Minister made a brief halt in Malaysia this morning after concluding his Indonesia visit.

He met his newly-elected Malaysian counterpart Mahathir Mohammad in Kuala Lumpur. The two leaders discussed ways to boost economic and cultural relations between the two countries.

In a tweet, External Affairs Ministry spokesperson Raveesh Kumar said, Mr Modi congratulated Dr Mahathir on assuming the post of Malaysian Prime Minister.

The spokesman said, Malaysia is a strategic partner and a priority country in India's Act East Policy. In a tweet, Mr Modi said, they had productive discussions on further cementing India-Malaysia ties.