Prime Minister Modi launched India's BHIM, RuPay and SBI app at the 'Business, Innovation and Community Event' here where digital platform was the main feature.
Singapore Prime Minister Lee noted, "We have launched initial link for our payment systems NETS and RuPay. Indian tourists will be able to use their RuPay cards for electronic payments at Changi airport and selected operators across Singapore."
The visiting Prime Minister announced that Singapore and India will enter into a new 'Air Service Agreement' "really soon".
"I was happy to see that CEO's of many important companies are looking at India with confidence. Both the countries are going to enter into a new 'Air Service Agreement' really soon and we are soon going to preview it," Prime Minister Narendra Modi added.
Prime Minister Modi used the occasion to state that both the countries have been able to successfully conclude the second review of comprehensive economic cooperation agreement, adding, "But we agreed this is not just our target and goal but this only means to an end and officials will soon start discussing how to reform and upgrade this further."
Expressing happiness over the fact that Indian companies use Singapore as a spring board for not only "this country", but for the entire ASEAN region, Prime Minister Modi maintained that as India progresses and develops, opportunities are coming up for the Singaporean companies.
After the joint presser, Prime Minister Lee will host an official lunch in honour of Prime Minister Modi.
Earlier today, Prime Minister Modi was accorded ceremonial welcome at Istana.
Prime Minister Modi landed in Singapore on Thursday, where he received a rousing welcome from the crowd, most of them Indian, as he reached Hotel Fullerton on arriving in Singapore.
Before Singapore, Prime Minister visited Indonesia and Malaysia in a bid to enhance India's relations and engagements with the three countries, who are members of the ASEAN.
In Indonesia, 15 MoUs between the two countries were signed and in Kuala Lampur, he met with the newly appointed Malaysian Prime Minister, Mahathir Bin Mohamad.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)