Under this LOI, both nations will collaborate on projects related to maritime digitalization and decarbonization. This includes identifying relevant stakeholders and working towards formalizing the partnership through a memorandum of understanding to establish a Singapore-India Green and Digital Shipping Corridor (GDSC).
India, recognized for its expertise in information technology and potential as a producer and exporter of green marine fuels, and Singapore, a key transshipment and bunkering hub with a dynamic research and innovation ecosystem, aim to leverage their strengths through this partnership. The establishment of the GDSC is expected to enhance collaboration between the two countries, accelerating the development and adoption of zero or near-zero greenhouse gas emission technologies and digital solutions in the maritime sector.