Piyush Goyal visits Singapore with 70-member business delegation to deepen economic ties
New Delhi, Aug 19 (IANS) Union Commerce and Industry Minister Piyush Goyal is visiting Singapore from August 19-21 as part of India’s ongoing high-level engagement with the Southeast Asian nation under the fourth India-Singapore Ministerial Roundtable (ISMR) framework, an official statement said on Wednesday.
The minister is accompanied by a business delegation of around 70 senior representatives from sectors including technology, artificial intelligence, manufacturing, infrastructure, financial services, healthcare, agriculture, logistics, maritime and professional services.
The delegation will hold business-to-business, government-to-business and institutional meetings focused on partnerships, investment, market access, technology cooperation and skill development, it added.
Goyal will participate in the ISMR on Thursday alongside Finance Minister Nirmala Sitharaman, External Affairs Minister S Jaishankar and Electronics and IT Minister Ashwini Vaishnaw.
The meeting will be held alongside the fourth India-Singapore Business Roundtable and will be followed by an MoU signing ceremony and a lunch hosted by Singapore Deputy Prime Minister for the participating delegates.
In addition, the minister will also meet Singapore Prime Minister Lawrence Wong at the Istana.
The minister is scheduled to hold government-to-business meetings with senior representatives of Singapore-based and global institutions, including the Global Finance & Technology Network, YPO Global, Milken Institute, Keppel Infrastructure, Temasek Holdings and IHH Healthcare.
He will also participate in a Family Office Roundtable and meet representatives of the Singapore Business Federation, Turner & Townsend and STT GDC.
Goyal will jointly visit an APEDA-FairPrice initiative at City Square Mall with Singapore’s Minister of State for Foreign Affairs and Trade and Industry Gan Siow Huang.
Apart from that, he will also participate in the India-Singapore Business Forum organised by FICCI at the INSEAD Asia Campus and attend the ICAI ASEAN Conference 2026, where he will deliver a keynote address.
According to the Commerce Ministry, Singapore was India’s largest source of foreign direct investment in FY2025-26 with inflows of $19.8 billion.
Cumulative FDI inflows from Singapore stood at $194.68 billion between April 2000 and March 2026, accounting for 24.72 per cent of India’s total FDI inflows.
Moreover, bilateral trade increased from $6.7 billion in FY2004-05 to $36.1 billion in FY2025-26 following the implementation of the India-Singapore Comprehensive Economic Cooperation Agreement, according to the ministry.
–IANS
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