New Delhi: Commerce and Industry Minister Piyush Goyal is leading a 70-member business delegation to Singapore to strengthen trade and investment ties between the two countries, the Commerce Ministry said on Wednesday.
The three-day visit began on 19 August and will focus on expanding business partnerships, investment opportunities, market access, technology collaboration and talent development.
Goyal will participate in the fourth India-Singapore Ministerial Roundtable (ISMR) on 20 August alongside Finance Minister Nirmala Sitharaman, External Affairs Minister S Jaishankar and Railways, Information and Broadcasting, and Electronics and Information Technology Minister Ashwini Vaishnaw.
The ministers will hold discussions with their Singaporean counterparts and other senior Singaporean leaders during the visit.
The business delegation comprises representatives from sectors including artificial intelligence, manufacturing, infrastructure, financial services, healthcare, food and agriculture, logistics, maritime and trade.
The engagements are aimed at identifying new areas of cooperation and strengthening commercial partnerships between businesses in India and Singapore.
Singapore remains a key economic partner for India and a major source of foreign investment.
In 2025-26, Singapore was the largest source of foreign direct investment (FDI) into India, with inflows of USD 19.8 billion.
Cumulative FDI inflows from Singapore stood at USD 194.68 billion between April 2000 and March 2026, accounting for 24.72 per cent of India's total FDI inflows.
Singapore is also India's largest trading partner within ASEAN and remains a significant source of External Commercial Borrowings and Foreign Portfolio Investment.
Bilateral trade has expanded substantially since the India-Singapore Comprehensive Economic Cooperation Agreement (CECA) came into effect.
Trade between the two countries increased from USD 6.7 billion in 2004-05 to USD 36.1 billion in 2025-26.
The latest ministerial and business-level engagements are expected to build on this economic partnership and identify opportunities for greater investment, technology and trade cooperation.