Prime Minister Narendra Modi on Wednesday met his Singaporean counterpart Lee Hsien Loong and the two leaders discussed a range of issues, including cooperation in financial technology and regional economic integration.

PM Modi began his two-day visit to Singapore on Wednesday by addressing the Fintech Festival, the world’s largest event on financial technology.

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The PM met Lee on the sidelines of the East Asia Summit.

“PM Narendra Modi met with Prime Minister of Singapore lee Hsien Loong on the sidelines of East Asia Summit. Good exchange of views on cooperation in financial technology, enhanced connectivity and regional economic integration,” External Affairs Ministry Spokesperson Raveesh Kumar said in a tweet.

PM Modi became the first world leader to address the festival that was launched in 2016 and is in its third edition.

Earlier today, Modi addressed a gathering at the Singapore Fintech Festival and said there was an explosion of Fintech innovation and enterprise in India and the nation is “your best destination”.

“This has turned India into a leading fintech and startup nation in the world. The future of fintech and Industry 4.0 is emerging in India. I say this to all the fintech companies and startups — India is your best destination,” Modi told the gathering.

“Financial inclusion has become a reality for nearly 1.3 billion Indians. Technology today is helping them define competitiveness and power in the new world,” added Modi, the first head of government to deliver the keynote address at the world’s largest financial technology festival.

Modi said that his government came to office in 2014 with a mission of inclusive development.

“Today, we have generated more than 1.2 billion biometric identities in Aadhaar in just a few years. Less than 50 per cent of Indians had bank accounts in 2014. Today, it is nearly universal,” he told the audience.

“We are in an age of a historic transition brought about by technology,” the Prime Minister added.

During his visit, PM Modi is scheduled to attend the East Asia Summit, an ASEAN-India informal meet, the Regional Comprehensive Economic Partnership summit and hold meetings with global leaders, including US Vice President Mike Pence.

Before leaving for Singapore, Modi said in New Delhi that his participation in the ASEAN-India and East Asia summits symbolised India’s “continued commitment” to strengthen its engagement with ASEAN members and with the wider Indo-Pacific region.

PM Modi also said he was confident that his visit to Singapore would impart fresh momentum to New Delhi’s growing partnership with ASEAN and East Asia Summit nations.

The Association of Southeast Asian Nations (ASEAN) is a regional intergovernmental organisation comprising ten Southeast Asian countries, which promotes intergovernmental cooperation and facilitates economic, political, security, military, educational, and sociocultural integration among its members and other Asian states.

(With inputs from agencies)