India’s Minister of Commerce and Industry, Piyush Goyal, engaged in productive discussions with top executives from prominent global firms in Singapore on Sunday. The meetings set the stage for the upcoming second India-Singapore Ministerial Roundtable (ISMR) on August 26th, aiming to solidify the already strong economic ties between the two nations.
The discussions with executives from Temasek Holdings, DBS Bank, OMERS, Keppel Infrastructure, and TVS Motor Company focused on deepening economic collaboration between India and Singapore. Key topics included enhancing bilateral trade, exploring new avenues for investment, and leveraging India’s economic momentum and Singapore’s investment potential.
A particular emphasis was placed on scaling up investments in India’s small and medium enterprise (SME) sector. The discussions also explored ways to improve the investment climate in India and promote sustainable development through decarbonization initiatives. The importance of identifying synergies for family-owned businesses in a rapidly evolving global landscape was also highlighted.
Singapore holds a significant position as India’s largest source of foreign direct investment (FDI), with inflows reaching approximately $11.77 billion during Fiscal Year 2024. It is also India’s sixth-largest global trade partner, with bilateral trade reaching $35.61 billion in Fiscal Year 2025.
Following his meetings, Goyal took to social media platform X (formerly known as Twitter) to highlight the success of the discussions. He stated, “Wrapped up a very fruitful day in Singapore today, with interactions and discussions with leaders of major global investment firms having over US$500 billion of assets under management.” He added, “Positioned India as an attractive investment destination and invited these multinationals to be a part of our development journey.”
These dialogues are crucial in reinforcing the mutual commitment of India and Singapore to fostering innovation and economic growth. They demonstrate the strong partnership between the two nations, with a shared focus on creating a prosperous and sustainable future.
