Odisha has inked eight Memorandums of Understanding (MoUs) with Singapore to strengthen partnerships in important industries. The state’s Electronics and IT Department collaborated with Singapore’s Global Finance & Technology Network (GFTN) to build a Global Competency Centre in Bhubaneswar, which will focus on boosting FinTech and InsureTech innovation.
The MoU was signed during Singapore President Tharman Shanmugaratnam’s visit to Odisha in 2025, to mark 60 years of diplomatic relations between India and Singapore. Chief Minister Mohan Charan Majhi emphasised Odisha’s attempts to diversify its IT sector and position itself as a FinTech hub through startup support, incubation centres, and financial inclusion initiatives.
The agreement is consistent with India’s “Insurance for All” objective by 2047 and the Viksit Bharat 2047 project, which aims to improve financial inclusion and economic empowerment. Sopnendu Mohanty, GFTN’s Group CEO Designate, emphasised Odisha’s entrepreneurial potential for growing its digital economy.
Additionally, Singapore President Tharman paid a visit to Bhubaneswar’s World Skill Centre, where he toured labs and discussed collaboration in skill development, renewable energy, information technology, ports, and semiconductors. Chief Secretary Manoj Ahuja presented Odisha’s strategies for industrial and infrastructure development.
