Union Minister of Commerce and Industry Piyush Goyal is leading a high-level Indian business delegation to Singapore from August 19 to 21, 2026, as India steps up efforts to deepen trade, investment, technology and economic cooperation with the Southeast Asian nation.
The visit is being held under the framework of the India-Singapore Ministerial Roundtable (ISMR) and brings together around 70 senior Indian business leaders representing technology, software and artificial intelligence, manufacturing, infrastructure, financial services, healthcare, agriculture, logistics, maritime, trade and professional services.
The Indian delegation is participating in a series of B2B, Government-to-Business (G2B) and institutional engagements focused on investment opportunities, market access, technology partnerships, skilling and talent development. The programme also includes interactions with Centres of Excellence and visits to skilling institutions in Singapore.
Fourth India-Singapore Ministerial Roundtable
Goyal is participating in the 4th India-Singapore Ministerial Roundtable on August 20, the apex ministerial mechanism for advancing the India-Singapore Comprehensive Strategic Partnership.
The Roundtable is being held alongside the 4th India-Singapore Business Roundtable, followed by an MoU signing ceremony and a luncheon hosted by Singapore’s Deputy Prime Minister.
Goyal is participating alongside Union Finance and Corporate Affairs Minister Nirmala Sitharaman, External Affairs Minister S. Jaishankar, and Union Minister for Railways, Information and Broadcasting, and Electronics and Information Technology Ashwini Vaishnaw. The Indian ministers are engaging with their Singaporean counterparts and senior leaders on areas of strategic and economic cooperation.
Goyal will also call on Singapore Prime Minister Lawrence Wong at the Istana.
Focus on Investment, Finance and Infrastructure
As part of the visit, Goyal is holding G2B meetings with senior representatives of several leading Singapore-based and international institutions, including the Global Finance & Technology Network, YPO Global, Milken Institute, Keppel Infrastructure, Temasek Holdings and IHH Healthcare.
The Minister will also interact with representatives of the Singapore Business Federation, Turner & Townsend and STT GDC, followed by a Family Office Roundtable aimed at strengthening investment linkages.
An important component of the visit is the promotion of Indian agricultural exports. Goyal will jointly visit an APEDA–FairPrice initiative at City Square Mall with Singapore’s Minister of State for Foreign Affairs and Trade & Industry Gan Siow Huang. The initiative seeks to expand the presence of Indian agri-food products in Singapore’s retail market and further strengthen bilateral agri-trade.
Business Forum Highlights Growth Opportunities
Goyal will also participate in the India-Singapore Business Forum, organised by FICCI at the INSEAD Asia Campus.
He will take part in a fireside chat titled “India in the New Global Growth Equation: Growth and Opportunity for Businesses in Asia and the World”, followed by a networking dinner with members of the Indian and Singaporean business communities.
The Minister’s Singapore programme will conclude with a keynote address at the ICAI ASEAN Conference 2026 at the Marina Bay Sands Expo and Convention Centre.
Singapore Largest Source of FDI into India
Singapore continues to occupy a strategic position in India’s investment and trade landscape. During FY 2025-26, Singapore was India’s largest source of FDI, with inflows of USD 19.8 billion.
Cumulative FDI inflows from Singapore reached USD 194.68 billion between April 2000 and March 2026, accounting for 24.72% of India’s total FDI inflows.
Singapore is also India’s largest trading partner within ASEAN and remains an important source of External Commercial Borrowings and Foreign Portfolio Investment.
Bilateral trade has expanded significantly since the implementation of the India-Singapore Comprehensive Economic Cooperation Agreement (CECA), rising from USD 6.7 billion in FY 2004-05 to USD 36.1 billion in FY 2025-26.
The high-level visit underscores India’s focus on expanding economic engagement with Singapore across trade, investment, digitalisation, advanced manufacturing, logistics, skills development and the green economy, while strengthening Singapore’s role as a key partner in India’s global growth and supply-chain ambitions.