Speaking at the second Singapore-India Business Dialogue (SIBD) at SMU, whole-time member of the Securities & Exchange Board of India Prashant Saran said that the new Indian administration, while facing several challenges on the economic and social fronts, has some room for policy manoeuvre – a positive result of Prime Minister-designate Narendra Modi and his Bharatiya Janata Party's landslide win in the recent general election. This political stability will ensure that India's challenge will be manageable. At the same dialogue, Minister in the Prime Minister’s Office, Second Minister for Home Affairs and Second Minister for Trade and Industry, Mr S. Iswaran pointed out that Singapore could help India with some of these challenges, which could in turn strengthen bilateral economic relations. Mr Iswaran suggested that India's growth potential is most evident in the projected increase of 300 million young Indian workers by the year 2040, and its rising middle class. He added that the best way to reap this "demographic dividend" is to invest significantly in the education, capabilities and skills of young Indians – at the national, sectoral and business level.