Indian-origin economist Tharman Shanmugaratnam sworn in Singapore's new President

Indian-origin Singapore-born economist Tharman Shanmugaratnam, sworn in as the ninth president on Thursday, vowed to strengthen the city-state's multiracialism and nurture a more inclusive society with the 'strong mandate' from the voters.

Indian-origin Chief Justice Sundaresh Menon administered the oath of office to President Tharman at a ceremony held at Istana, a 154-year-old palace in the heart of Singapore’s Shopping and Hotel Belt of Orchard Road. The Istana is the official residence of the President of Singapore.

The ceremony was attended by Prime Minister Lee Hsien Loong, members of the Cabinet, MPs, top civil servants and members of the diplomatic corps.

Tharman, 66, will serve a six-year term. He succeeds President Halimah Yacob, Singapore's first female president, whose tenure ended on September 13.

Speaking after taking the oath, President Tharman promised to work with the government, community groups, voluntary organisations and the entire nation to strengthen Singapore's multiracialism and nurture a more inclusive society, with the “strong mandate” voters gave him on September 1.

He bagged 70.4 per cent of the 2.48 million votes cast, while his Chinese-origin rivals Ng Kok Song and Tan Kin Lian received 15.72 per cent and 13.88 per cent respectively.

"I will do my utmost to support initiatives that deepen the respect we accord to our fellow citizens, of all backgrounds and in every walk of life - the respect for all that is at the heart of our solidarity as Singaporeans," he said.

"I will be scrupulous and independent in making judgements that involve the use of the ‘second key’ on our reserves – whether in responding to the future crises that will come from time to time, or in ensuring Singapore remains a safe and liveable home over the longer term," he asserted.

Reserves have been a main issue during the election.

In exercising his veto powers on the reserves and key public service appointments, he will confer closely with the Council of Presidential Advisers, and be thorough and impartial in his assessments, said Tharman.

There are longer-term threats to Singapore’s existence and the lives of future generations, such as climate change, he noted.

"Should the need arise in future to use the reserves to tackle such crises and existential threats, we will weigh the matter carefully,” said Tharman.

"We will have to balance between meeting immediate needs and preserving the reserves so that every generation, now and in the future, enjoy their benefits."

Tharman said that as the non-partisan head of state, the President stands above the political fray, and can be a symbol of the nation, effective in uniting all Singaporeans, regardless of race, religion or other differences.

"As President, I will promote greater interactions between our different communities, even as we ensure the vibrance of our different cultures,” he said.

The President also pledged to actively support the arts and sports, while noting that Singapore has made “significant strides” in both areas over the years.

The world has entered an era of “profound global uncertainty and growing fragility”, with the ongoing Ukraine war and major economies shifting away from free trade and investment flows. The China-US relationship is at its most troubled in decades, he said.

Singapore must always advance its long-term national interests by standing up firmly for its principles rather than taking sides, he said.

Hailing the election of Tharman, Prime Minister Lee said that Singaporeans have chosen a candidate who is “eminently qualified” as he described the former senior minister as “someone who not only has the ability, experience and stature to carry out his duties both at home and abroad but also sound judgement and unquestioned integrity”.

Speaking at Tharman’s inauguration, Lee said that the Presidential Election - which Tharman won with a dominant 70.4 per cent vote share - showed that race was a “smaller factor now than it used to be” for Singaporeans.

“It is indeed a good sign that in a national vote, Singaporeans have elected a candidate from a minority community as President, on his merits, by an overwhelming majority,” Lee said.

Tharman, who has served Singapore all his life in public service, was overwhelmingly endorsed by the city-state's predominantly Chinese society.

He is married to Jane Ittogi, a Singaporean lawyer of Japanese-Chinese heritage. They have a daughter and three sons.

Tharman was a student activist while studying in the UK during the 1970s. He originally held socialist beliefs, but his views on economics evolved over the course of his career.

Tharman, as the Tamilian is popularly called, is the people's President, says Singapore Friday weekly, Tabla!

Tharman brings extensive experience to the Presidential office as he has served for over two decades in Singapore's economic development. He was senior minister, deputy prime minister (May 2011 to May 2019), and finance minister among other posts as well as served in leadership positions at major international organisations such as the International Monetary Fund, World Economic Forum, and United Nations Development Forum.

He resigned in July from public and political posts in the ruling People’s Action Party to contest the election for president.

Chinese account for 74.3 per cent of the city-state of about 5.6 million population, Indians about 9 per cent and Malays close to 13.5 per cent with the rest others in a country that is an Asian financial and business hub, winning over the best talent from the world over.

The role of the Singapore President, a non-political but highest office of the land, includes being the custodian of the nation's past reserves and ensuring the integrity of its public service. He or she is also a symbol and unifier of a diverse and multi-racial Singapore.

Singapore, in the past, has had two Indian-origin presidents.

Sellapan Ramanathan, popularly known as S R Nathan, a Singaporean politician and civil servant of Tamil descent, served as the president of Singapore. In 2009, Nathan defeated Benjamin Sheares to become Singapore's longest-serving president.

Chengara Veetil Devan Nair, better known as Devan Nair, served as the third president of Singapore from 1981 until his resignation in 1985. Born in 1923 in Malacca, Malaysia, Nair was the son of a rubber plantation clerk who was originally from Thalassery, Kerala.