Commerce minister Piyush Goyal leads 70-member business delegation to Singapore

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 government said Wednesday. The engagements, during the three-day visit, which began Wednesday, will focus on partnerships, investment, market access, technology collaboration and talent development.

“Goyal will also call on Lawrence Wong, Prime Minister of Singapore,” the commerce and industry ministry said in a statement.

He will participate in the fourth India-Singapore Ministerial Roundtable (ISMR) on August 20 along with Finance Minister Nirmala Sitharaman, External Affairs Minister Subrahmanyam Jaishankar, and Railways, Information and Broadcasting, and Electronics and Information Technology Minister Ashwini Vaishnaw. The ISMR is the apex ministerial mechanism for advancing the India-Singapore Comprehensive Strategic Partnership.


Singapore was the largest source of foreign direct investment (FDI) into India in FY26,

with inflows of $19.8 billion. Cumulative FDI inflows from Singapore were $194.68 billion during April 2000-March 2026, accounting for 24.72% of India’s total FDI inflows.

Bilateral trade has expanded substantially following the conclusion of the India-Singapore Comprehensive Economic Cooperation Agreement increasing

to $36.1 billion in FY26 from $6.7 billion in FY05.

“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,” it said.

On the sidelines, Goyal will hold a series of Government-to-Business 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 Chairman-led delegation, Turner & Townsend and STT GDC, according to the statement.