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 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 6th largest trade partner, for FY26 with a share of 2.96% in Singapore’s overall trade.
- Bilateral trade stood at US$ 36.1 billion in FY26.
- Singapore is the 1st largest investor in India, with a cumulative FDI inflow of US$ 194.68 billion from April 2000-March 2026.
Major exports from India to Singapore
- India’s export to Singapore stood at US$ 11.86 billion in FY26.
- India exported around 5,365 commodities to Singapore in FY26.
- Major items exported by India to Singapore included engineering goods (US$ 4.50 billion), followed by petroleum products (US$ 4.44 billion), organic and inorganic chemicals (US$ 823.79 million), electronic goods (US$ 627.67 million), gems and jewellery (US$ 546.30 million), drugs and pharmaceuticals (US$ 126.21 million), plastic and linoleum (US$ 91.54 million), and rice (US$ 89.24 million) during FY26.
Major imports by India from Singapore
- India’s imports from Singapore stood at around US$ 24.24 billion during FY26.
- India imported 4,225 commodities from Singapore in FY26.
- Major items imported by India from Singapore included electronic goods (US$ 8.60 billion), followed by machinery, electrical and non-electrical (US$ 2.30 billion), coal, coke and briquettes (US$ 2.03 billion), transport equipment (US$ 1.69 billion), artificial resins, plastic materials and related products (US$ 1.50 billion), gold (US$ 1.28 billion), organic and inorganic chemicals (US$ 1.15 billion), petroleum, crude and products (US$ 864.67 million), vegetable oil (US$ 786.39 million), professional instruments and optical goods (US$ 675.41 million), iron and steel (US$ 631.92 million), and non-ferrous metals (US$ 569.68 million) during FY26.
Economic Relations and Investments
In FY26 (till March 2026), bilateral trade stood at US$ 36.1 billion. FDI equity inflows in India from Singapore reached US$ 14.94 billion in FY25 compared to US$ 19.80 billion in FY26. Singapore held the first position of the largest source of FDI into India. The cumulative FDI inflows from Singapore to India stood at US$ 194.68 billion (April 2000-March 2026).
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 May 28, 2026, India and Singapore explored new avenues to strengthen defence cooperation, including defence industry collaboration, cyber security, artificial intelligence, maritime security, unmanned systems, and advanced defence technologies. Both countries also reaffirmed their commitment to an open, inclusive and rules-based Indo-Pacific through deeper strategic and institutional cooperation.
- 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)
FAQs
India exports to Singapore are led by engineering goods (US$ 4.50 billion) and petroleum products (US$ 4.44 billion), followed by chemicals, electronics, gems and jewellery, pharmaceuticals, plastics, and rice. This diversified export basket makes Singapore an important destination within India Singapore trade.
India Singapore trade has expanded over the past five years, with bilateral trade rising from about US$ 30.11 billion in FY22 to US$ 36.10 billion in FY26. While India's exports remained relatively stable at US$ 11.86 billion in FY26 compared with US$ 11.15 billion in FY22, imports increased from US$ 18.96 billion to US$ 24.24 billion, highlighting Singapore's growing role in India's supply chains and investment ecosystem.
The India Singapore economic partnership is increasingly driven by advanced manufacturing, semiconductors, digital technologies, telecommunications, pharmaceuticals, infrastructure, green shipping, and financial services. Recent discussions to deepen cooperation in semiconductors and digital trade are creating new avenues for economic integration.
Singapore offers trade opportunities between India and Singapore across engineering, electronics, chemicals, pharmaceuticals, digital technologies, and advanced manufacturing. Its position as India's largest ASEAN trade partner and a major regional business hub can also help Indian companies access wider Southeast Asian value chains.
Strong Singapore imports from India include engineering goods, petroleum products, chemicals, electronics, gems and jewellery, pharmaceuticals, plastics, and rice. Demand is supported by Singapore's highly integrated trading and manufacturing economy, with Indian exports spanning both industrial inputs and finished products.
India Singapore trade relations are supported by the Comprehensive Strategic Partnership, the India-Singapore Joint Working Group on Trade and Investment, and ongoing reviews of the India-Singapore CECA and ASEAN Trade in Goods Agreement. These mechanisms help expand cooperation in manufacturing, digital trade, investment, connectivity, and technology.
Future trade opportunities between India and Singapore are emerging in semiconductors, artificial intelligence, cyber security, advanced defence technologies, green and digital shipping, space, electronics manufacturing, and clean technologies. Recent bilateral initiatives indicate a shift towards higher-value, technology-intensive cooperation.
The growth of India Singapore trade is supported by strong investment linkages, expanding technology cooperation, advanced manufacturing, connectivity, and Singapore's role as India's largest ASEAN trade partner. Singapore's cumulative FDI inflows into India reached US$ 194.68 billion between April 2000 and March 2026, further strengthening the economic relationship.
Indian businesses can strengthen exports to Singapore by targeting technology-intensive and high-value sectors such as engineering, electronics, pharmaceuticals, semiconductors, and digital solutions. Participation in regional supply chains and partnerships in advanced manufacturing can also help Indian companies use Singapore as a gateway to ASEAN markets.
Emerging export potential lies in semiconductor-related products, electronics, AI and digital solutions, green shipping technologies, advanced defence systems, space technologies, and specialised engineering products. These areas align with the expanding India Singapore economic partnership and the two countries' focus on technology and sustainable growth.
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