India-Singapore
Piyush Goyal heads to Singapore: What India’s Commerce Minister will discuss during key 3-day visit
Union Minister of Commerce and Industry Piyush Goyal is visiting Singapore from August 19-21 as part of continued high-level engagement under the India-Singapore Ministerial Roundtable (ISMR) framework.
An Indian business delegation comprising around 70 senior business leaders from diverse sectors is visiting Singapore alongside Piyush Goyal to strengthen India-Singapore economic and commercial ties.
"The delegation includes representatives from technology, software and AI, manufacturing and engineering, infrastructure and sustainability, financial services and FinTech, healthcare and life sciences, food and agriculture, logistics, maritime and trade, and professional services," read a government statement.
The delegation will undertake B2B, G2B and institutional engagements, including interactions with leading Centres of Excellence (COEs) and visits to skilling institutions in Singapore.
The engagements will focus on partnerships, investment, market access, technology collaboration and talent development.
The visit is being organised on the sidelines of the India-Singapore Ministerial Roundtable and India-Singapore Business Roundtable meetings.
During the visit, Piyush Goyal will participate in the 4th India-Singapore Ministerial Roundtable (ISMR) on 20 August 2026.
The ISMR serves as the apex ministerial mechanism for advancing the India-Singapore Comprehensive Strategic Partnership (CSP).
The Roundtable will be held alongside the 4th India-Singapore Business Roundtable (ISBR), followed by an MoU signing ceremony and a lunch hosted by the Deputy Prime Minister of Singapore for all ISMR and ISBR delegates.
The Minister will participate in the Roundtable alongside Smt. Nirmala Sitharaman, Union Minister for Finance and Corporate Affairs; Dr. Subrahmanyam Jaishankar, Union Minister for External Affairs; and Shri Ashwini Vaishnaw, Union Minister for Railways, Information and Broadcasting, and Electronics and Information Technology. The Ministers will engage with their Singaporean counterparts and other senior Singaporean leadership during the visit.
Piyush Goyal will also call on Mr Lawrence Wong, Prime Minister of Singapore, at the Istana.
On the sidelines, Goyal will hold a series of Government-to-Business (G2B) engagements with senior representatives from the Global Finance & Technology Network, YPO Global, Milken Institute, Keppel Infrastructure, Temasek Holdings and IHH Healthcare, as well as the Singapore Business Federation (SBF) Chairman-led delegation, Turner & Townsend and STT GDC. These engagements will be followed by a Family Office Roundtable.
The Minister will jointly visit an APEDA–FairPrice initiative at City Square Mall along with Singapore’s Minister of State for Foreign Affairs and Trade & Industry, Gan Siow Huang. The initiative aims to promote Indian agri-food exports and strengthen their presence in Singapore’s retail market, reflecting deepening agri-trade linkages between the two countries.
Piyush Goyal will also participate in the India-Singapore Business Forum organised by FICCI at the INSEAD Asia Campus, where he will take part in a fireside chat on “India in the New Global Growth Equation: Growth and Opportunity for Businesses in Asia and the World,” followed by a networking dinner with the Indian and Singaporean business community.
The visit will conclude with a keynote address by the Minister at the ICAI ASEAN Conference 2026 at the Marina Bay Sands Expo and Convention Centre.
Singapore remains a key economic partner and a major source of investment for India. In FY 2025-26, Singapore was the largest source of FDI into India, with FDI inflows of USD 19.8 billion. Cumulative FDI inflows from Singapore stood at USD 194.68 billion during April 2000-March 2026, accounting for 24.72% 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 following the conclusion of the India-Singapore Comprehensive Economic Cooperation Agreement (CECA), increasing from USD 6.7 billion in FY 2004-05 to USD 36.1 billion in FY 2025-26.
The visit reaffirms India’s commitment to strengthening trade, investment and people-to-people ties with Singapore, one of India’s largest sources of FDI and a key partner in advanced manufacturing, digitalisation, skills development and the green economy.
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