India Singapore Trade
Singapore is the 2nd largest investor in India, with a cumulative FDI inflow of US$ 159.94 billion from April 2000-March 2024.
Introduction
India-Singapore relations deepened significantly in 2025, marked by the 60th anniversary of diplomatic ties, high-level leadership visits, and a new comprehensive strategic partnership roadmap. Engagements span trade, investment, defence, youth exchanges, technology, green economy and maritime security, reinforcing the partnership amid global economic and geopolitical uncertainties.
India and Singapore share close ties with a history rooted in strong commercial, cultural, and people-to-people links across a millennium. Singapore is the leading source of FDI, among the largest sources of External Commercial borrowing and Foreign Portfolio Investment. It is the largest trade partner of India in the ASEAN region.
India-Singapore Trade
- India is Singapore’s 8th largest trade partner, for FY26 with a share of around 3% in Singapore’s overall trade.
- Bilateral trade stood at US$ 23.61 billion in FY26 (till November 2025).
- Singapore is the 1st largest investor in India, with a cumulative FDI inflow of US$ 186.82 billion from April 2000-September 2025.
- Singapore is India’s 6th largest trade partner and largest trade partner in ASEAN.
Major exports from India to Singapore
- India’s export to Singapore stood at US$ 7.20 billion in FY26 (till November 2025).
- India exported around 4,903 commodities to Singapore in FY26 (till November 2025).
- India’s exports were primarily dominated by mineral fuels and mineral oils, valued at US$ 2.54 billion, accounting for the largest share of the export basket. This was followed by machinery and mechanical appliances of around (US$ 1.34 billion) ships, boats and floating structures (US$ 838.37 million), reflecting strong performance in capital- and engineering-intensive segments. Organic chemicals (US$ 432.66 million) and gems and jewellery (US$ 359.43 million) also emerged as key export categories. Electrical machinery and equipment (US$ 295.20 million), base metals such as lead and zinc, and precision instruments further contributed to exports, while pharmaceuticals, plastics, iron and steel articles, and agricultural products including cereals and edible preparations formed part of the diversified export portfolio in FY26 (till November 2025).
Major imports by India from Singapore
- India’s imports from Singapore stood at around US$ 16.41 billion during FY26 (till November 2025).
- India imported 3,885 commodities from Singapore in FY26 (till November 2025).
- Major items imported by India from Singapore include electrical machinery and equipment, valued at US$ 4.11 billion, followed by nuclear reactors, boilers and mechanical appliances at US$ 2.79 billion. Mineral fuels and mineral oils accounted for imports worth US$ 1.93 billion, while pearls, precious and semi-precious stones and metals (US$ 1.32 billion) and plastics and articles (US$ 1.03 billion) also formed a significant part of the import basket. Precision instruments (US$ 842.52 million), organic chemicals (US$ 797.68 million) and ships, boats and floating structures (US$ 770.44 million) further contributed to imports, alongside a diversified mix of metals, chemicals and manufactured goods in FY26 (till November 2025).
Economic Relations and Investments
In FY26 (till November 2025), bilateral trade stood at US$ 23.61 billion. FDI equity inflows in India from Singapore reached US$ 14.94 billion in FY25 compared to US$ 11.94 billion in FY26 (April-September 2025). Singapore held the first position of the largest source of FDI into India. The cumulative FDI inflows from Singapore to India stood at US$ 186.82 billion (April 2000-September 2025).
Singapore is also amongst the largest sources of External Commercial Borrowings for India and Foreign Portfolio Investment from Singapore has been extremely important for India. The top sectors attracting FDI Equity inflows from Singapore are the Services Sector, Computer Software & Hardware, Trading, Telecommunications, and Drugs & Pharmaceuticals.
At the sub-national level, Indian state governments are engaging actively with Singapore on Smart Cities and urban rejuvenation projects, as well as on skills development initiatives, reflecting deepening ties in infrastructure and human capital cooperation. Singapore has also partnered with Maharashtra through a Joint Committee to enhance bilateral initiatives, while there are regular exchanges of state delegations and ministerial visits between both countries to bolster economic and strategic partnerships.
Recent Trends & developments
- On December 24, 2025, India and Singapore celebrated 60 years of diplomatic relations. Singapore’s President Mr. Tharman Shanmugaratnam and Prime Minister Mr. Lawrence Wong visited Delhi, joining India’s Prime Minister Mr. Narendra Modi in strengthening ties and unveiling a roadmap to deepen trade, defence and strategic cooperation.
- On December 4, 2025, CII Youth Indians (Yi) Chairman Mr. Mohamed Irshad announced plans to expand a Singapore-India student exchange programme to 300 students annually. The initiative, unveiled after the first Yi-India Singapore Youth Summit in Singapore, aims to deepen young leaders’ understanding of Indian culture, society and economy.
- On October 3, 2025, India’s Commerce and Industry Minister Mr. Piyush Goyal visited Singapore for three days, meeting Prime Minister Lawrence Wong and other leaders to discuss boosting bilateral trade and investments, focusing on manufacturing, infrastructure, green economy and deepening industrial cooperation.
- On September 4, 2025, Prime Minister Mr. Narendra Modi and Singapore Prime Minister Mr. Lawrence Wong agreed to fast-track reviews of the India-Singapore CECA and ASEAN Trade in Goods Agreement to boost bilateral trade amid global tariff uncertainties, expanding cooperation across advanced manufacturing, digital technologies and regional economic integration.
- Prime Minister Mr. Narendra Modi and Singapore Prime Minister Mr. Lawrence Wong unveiled a roadmap to expand the India-Singapore Comprehensive Strategic Partnership, signing agreements on aviation, skills, green and digital shipping, technology and security cooperation to jointly navigate global challenges.
- On September 2, 2025- September 4, 2025, Singapore Prime Minister Mr. Lawrence Wong made his first official visit to India, where India and Singapore agreed to sign five pacts in sectors like shipping, civil aviation and space. Prime Minister Mr. Narendra Modi and Singapore Prime Minister Mr. Lawrence Wong also planned to jointly inaugurate a major container terminal.
- On August 14, 2025, India hosted the 4th India-Singapore Joint Working Group on Trade & Investment in New Delhi, co-chaired by India’s Commerce Ministry Mr. Rajesh Agrawal and Singapore’s Trade Ministry Dr. Beh Swan Gin. They reviewed trade progress, explored new sectors like semiconductors and digital trade, and agreed to deepen economic cooperation.
- On August 13, 2025, India and Singapore held the 3rd India-Singapore Ministerial Roundtable in New Delhi, where top ministers led by India’s Mr. S. Jaishankar and Singapore’s Deputy Prime Minister Mr. Gan Kim Yong reviewed and planned deeper cooperation in technology, trade, connectivity and digitization
- Indian Naval Ship INS Satpura arrived in Singapore on July 30, 2025 to take part in the 32nd Singapore-India Maritime Bilateral Exercise (SIMBEX-25). The exercise enhances India-Singapore naval cooperation, interoperability and regional maritime security through joint operations, expert exchanges and advanced drills.
Conclusion
In 2025, India and Singapore significantly deepened their Comprehensive Strategic Partnership, marking 60 years of diplomatic ties through high-level leadership visits, expanded youth and people-to-people exchanges, and intensified economic and defence engagement. Both sides advanced cooperation in trade, manufacturing, green and digital economy, technology, connectivity and skills, while fast-tracking reviews of key trade agreements to address global uncertainties. Multiple ministerial dialogues, new sectoral pacts, and enhanced maritime and defence exercises, including SIMBEX-25, underscored a shared commitment to regional stability, economic integration and long-term strategic collaboration.
India-Singapore relations are based on various factors including economic opportunities, shared values and approaches, and convergence of interests on key issues. The two countries host regular political engagements. Defence relations are particularly strong. Economic and technological ties are extensive and growing. Cultural and human links are very vibrant. There are over 20 regular bilateral mechanisms, dialogues, and exercises.
There is also great convergence on a broad range of international issues. Both countries are members of a number of forums, including G20, Commonwealth, East Asia Summit, IORA (Indian Ocean Rim Association), and IONS (Indian Ocean Naval Symposium).
Contacts
- High Commission India, Singapore
Address: 31, Grange Road, Singapore 239702
Telephone Number: +65 6238 2537
Officials:
Dr. Shilpak Ambule (High Commissioner);
Email: hc.singapore@mea.gov.in
Mrs. Pooja Tillu (Deputy High Commissioner);
Email: dhc.singapore@mea.gov.in - High Commission of Singapore, India
Address: E-6, Chandragupta Marg, Chanakyapuri, New Delhi, Delhi 110021
Telephone: +91-11-4600 0800
Officials:
Mr. Simon Wong (High Commissioner)
Ms. Sumaya Baqavi (Deputy High Commissioner)
Ms. Kevin Liew (Counsellor - Administration & Consular)
Partners
