While speaking at the inaugural session of 'Start Up and Innovation Exhibition' in Singapore, External Affairs Minister S Jaishankar said, "When we (India and Singapore) came together in a contemporary phase of our relationship, it was the time when the world was changing and India was changing. The two changes had something to do with each other." "India, at that time, had a severe balance of payments crisis and was embarking on radical economic reform. In that situation, India turned to Singapore and Singapore responded. Singapore then became a key partner in India's growth," EAM added.
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